Extended Stay America (NYSE:STAY) has earned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $21.50.
A number of brokerages have commented on STAY. ValuEngine lowered Extended Stay America from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Morgan Stanley increased their price target on Extended Stay America from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, April 30th. Robert W. Baird reissued a “buy” rating and issued a $22.00 price target on shares of Extended Stay America in a research note on Thursday, April 19th. Barclays reissued an “overweight” rating and issued a $22.00 price target (up previously from $21.00) on shares of Extended Stay America in a research note on Wednesday, February 28th. Finally, Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, February 21st.
Shares of STAY stock traded down $0.05 during trading hours on Friday, hitting $19.84. The company had a trading volume of 1,579,000 shares, compared to its average volume of 1,694,380. Extended Stay America has a 12 month low of $16.27 and a 12 month high of $21.28. The firm has a market cap of $3.81 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.75 and a beta of 0.93. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.98.
Extended Stay America (NYSE:STAY) last released its quarterly earnings data on Thursday, April 26th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Extended Stay America had a return on equity of 15.18% and a net margin of 5.47%. The company had revenue of $298.00 million for the quarter, compared to analyst estimates of $292.38 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. sell-side analysts forecast that Extended Stay America will post 1.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, May 10th. This is an increase from Extended Stay America’s previous quarterly dividend of $0.21. Extended Stay America’s dividend payout ratio (DPR) is presently 88.00%.
Extended Stay America announced that its Board of Directors has approved a stock buyback program on Tuesday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In related news, insider Kevin A. Henry sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was 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 of the company’s stock, valued at approximately $2,253,679.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Extended Stay America by 6.0% during the 4th quarter. Renaissance Technologies LLC now owns 740,870 shares of the company’s stock worth $14,077,000 after purchasing an additional 41,670 shares in the last quarter. BB&T Securities LLC bought a new position in shares of Extended Stay America in the 4th quarter valued at about $1,017,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Extended Stay America by 46.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,479 shares of the company’s stock valued at $199,000 after acquiring an additional 3,340 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Extended Stay America by 44.2% in the 4th quarter. Alliancebernstein L.P. now owns 134,241 shares of the company’s stock valued at $2,551,000 after acquiring an additional 41,176 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Extended Stay America by 276.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 22,650 shares of the company’s stock valued at $430,000 after acquiring an additional 16,630 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.
About Extended Stay America
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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