Extended Stay America (NYSE:STAY) – Jefferies Financial Group dropped their Q4 2018 earnings per share estimates for shares of Extended Stay America in a note issued to investors on Friday, November 2nd. Jefferies Financial Group analyst D. Katz now forecasts that the company will earn $0.19 per share for the quarter, down from their previous estimate of $0.22.
A number of other equities research analysts have also weighed in on the stock. Bank of America lowered shares of Extended Stay America from a “buy” rating to a “neutral” rating in a report on Tuesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Extended Stay America from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Zacks Investment Research lowered shares of Extended Stay America from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.50 price objective on shares of Extended Stay America in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.45.
STAY opened at $18.13 on Monday. Extended Stay America has a fifty-two week low of $15.73 and a fifty-two week high of $22.58.
Extended Stay America (NYSE:STAY) last posted its earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.17 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was up .1% compared to the same quarter last year.
Large investors have recently bought and sold shares of the company. Iberiabank Corp bought a new stake in shares of Extended Stay America in the 3rd quarter valued at $251,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Extended Stay America by 35.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after acquiring an additional 3,715 shares in the last quarter. Tiverton Asset Management LLC bought a new position in Extended Stay America during the second quarter worth $319,000. James Investment Research Inc. boosted its stake in Extended Stay America by 34.0% during the second quarter. James Investment Research Inc. now owns 14,973 shares of the company’s stock worth $324,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Extended Stay America by 344.6% during the third quarter. Meeder Asset Management Inc. now owns 15,144 shares of the company’s stock worth $307,000 after acquiring an additional 11,738 shares in the last quarter. 96.67% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Wednesday, November 14th.
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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