Extended Stay America (STAY) Upgraded to “Overweight” by J P Morgan Chase & Co

J P Morgan Chase & Co upgraded shares of Extended Stay America (NYSE:STAY) from a neutral rating to an overweight rating in a report issued on Wednesday. The firm currently has $21.00 price objective on the stock.

STAY has been the subject of a number of other research reports. BidaskClub raised shares of Extended Stay America from a sell rating to a hold rating in a report on Saturday, October 7th. Nomura cut their price target on shares of Extended Stay America from $26.00 to $23.00 and set a buy rating for the company in a report on Wednesday, November 8th. Stifel Nicolaus cut their price target on shares of Extended Stay America from $21.00 to $19.25 and set a buy rating for the company in a report on Wednesday, November 8th. Bank of America cut their price target on shares of Extended Stay America from $24.00 to $21.00 and set a buy rating for the company in a report on Wednesday, November 8th. Finally, ValuEngine downgraded shares of Extended Stay America from a buy rating to a hold rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $21.03.

Shares of Extended Stay America (STAY) traded up $0.56 during trading hours on Wednesday, hitting $17.76. 2,992,100 shares of the company’s stock were exchanged, compared to its average volume of 2,168,147. Extended Stay America has a 1 year low of $15.43 and a 1 year high of $20.95. The firm has a market cap of $3,308.34, a price-to-earnings ratio of 17.03, a PEG ratio of 3.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.11 and a current ratio of 0.11.

Extended Stay America (NYSE:STAY) last announced its earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Extended Stay America had a return on equity of 14.53% and a net margin of 5.83%. The business had revenue of $350.86 million for the quarter, compared to analyst estimates of $359.70 million. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. analysts forecast that Extended Stay America will post 0.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Monday, November 20th. Extended Stay America’s dividend payout ratio (DPR) is presently 215.38%.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Extended Stay America by 49.9% in the 2nd quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock valued at $293,215,000 after purchasing an additional 5,044,514 shares during the last quarter. BlackRock Inc. lifted its stake in Extended Stay America by 82.3% in the 2nd quarter. BlackRock Inc. now owns 12,118,235 shares of the company’s stock valued at $234,608,000 after purchasing an additional 5,469,312 shares during the last quarter. Investec Asset Management LTD lifted its stake in Extended Stay America by 2.2% in the 2nd quarter. Investec Asset Management LTD now owns 8,874,263 shares of the company’s stock valued at $171,806,000 after purchasing an additional 189,347 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Extended Stay America by 100.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,710,452 shares of the company’s stock valued at $134,209,000 after purchasing an additional 3,365,110 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Extended Stay America by 29.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,816,589 shares of the company’s stock valued at $93,233,000 after purchasing an additional 1,095,624 shares during the last quarter. 98.47% of the stock is owned by institutional investors and hedge funds.

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Extended Stay America Company Profile

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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