Extended Stay America (NYSE:STAY) had its price objective lifted by Morgan Stanley from $19.00 to $20.00 in a report released on Monday morning. They currently have an equal weight rating on the stock.
STAY has been the topic of a number of other reports. Zacks Investment Research raised shares of Extended Stay America from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research report on Wednesday, February 21st. Stifel Nicolaus reissued a buy rating and set a $19.50 price objective (up from $19.25) on shares of Extended Stay America in a research report on Tuesday, December 19th. ValuEngine raised shares of Extended Stay America from a hold rating to a buy rating in a research report on Monday, April 2nd. JPMorgan Chase raised shares of Extended Stay America from a neutral rating to an overweight rating and set a $21.00 price objective on the stock in a research report on Wednesday, December 13th. Finally, Barclays reissued an overweight rating and set a $22.00 price objective (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $21.28.
Shares of Extended Stay America stock opened at $20.30 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3,850.87, a price-to-earnings ratio of 20.15, a P/E/G ratio of 3.57 and a beta of 0.93. Extended Stay America has a 12-month low of $16.27 and a 12-month high of $21.28.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $302.50 million for the quarter, compared to the consensus estimate of $299.75 million. Extended Stay America had a net margin of 6.15% and a return on equity of 14.42%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. analysts forecast that Extended Stay America will post 1.1 earnings per share for the current year.
Extended Stay America announced that its Board of Directors has approved a share buyback plan on Tuesday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Monday, March 12th. Extended Stay America’s dividend payout ratio (DPR) is presently 84.00%.
In other news, insider Kevin A. Henry sold 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $19.23, for a total transaction of $192,300.00. Following the sale, the insider now owns 117,196 shares in the company, valued at approximately $2,253,679.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.
A number of institutional investors have recently made changes to their positions in STAY. Burgundy Asset Management Ltd. boosted its stake in Extended Stay America by 103.7% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,519,786 shares of the company’s stock worth $50,396,000 after purchasing an additional 1,283,070 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Extended Stay America by 121.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,619,437 shares of the company’s stock worth $32,389,000 after purchasing an additional 888,945 shares in the last quarter. Engine Capital Management LLC bought a new position in Extended Stay America in the 4th quarter worth about $16,266,000. Arrowstreet Capital Limited Partnership boosted its stake in Extended Stay America by 142.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,090,557 shares of the company’s stock worth $20,721,000 after purchasing an additional 641,601 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Extended Stay America by 17.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 3,113,675 shares of the company’s stock worth $59,161,000 after purchasing an additional 456,300 shares in the last quarter. Institutional investors own 98.89% of the company’s stock.
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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.
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