$359.34 Million in Sales Expected for Extended Stay America, Inc. (STAY) This Quarter
Wall Street analysts expect Extended Stay America, Inc. (NYSE:STAY) to post sales of $359.34 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Extended Stay America’s earnings, with estimates ranging from $358.83 million to $360.00 million. Extended Stay America reported sales of $354.52 million in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, November 7th.
According to Zacks, analysts expect that Extended Stay America will report full year sales of $359.34 million for the current financial year, with estimates ranging from $1.29 billion to $1.30 billion. For the next year, analysts forecast that the business will post sales of $1.32 billion per share, with estimates ranging from $1.31 billion to $1.33 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Extended Stay America.
Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). Extended Stay America had a net margin of 5.24% and a return on equity of 14.53%. The business had revenue of $338.36 million during the quarter, compared to analysts’ expectations of $342.70 million. During the same period in the previous year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year.
Several research analysts have recently commented on STAY shares. BidaskClub lowered shares of Extended Stay America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research lowered shares of Extended Stay America from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Finally, Robert W. Baird reissued a “buy” rating and issued a $21.00 price objective on shares of Extended Stay America in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $21.20.
A number of institutional investors have recently modified their holdings of STAY. BlackRock Inc. lifted its stake in Extended Stay America by 728.7% in the first quarter. BlackRock Inc. now owns 6,648,923 shares of the company’s stock worth $105,986,000 after acquiring an additional 5,846,567 shares during the last quarter. Hamlin Capital Management LLC purchased a new position in Extended Stay America in the second quarter worth approximately $102,091,000. Vanguard Group Inc. raised its holdings in Extended Stay America by 49.9% during the second quarter. Vanguard Group Inc. now owns 15,145,372 shares of the company’s stock worth $293,215,000 after purchasing an additional 5,044,514 shares in the last quarter. River Road Asset Management LLC acquired a new stake in Extended Stay America during the second quarter worth approximately $73,977,000. Finally, Principal Financial Group Inc. raised its holdings in Extended Stay America by 100.6% during the third quarter. Principal Financial Group Inc. now owns 6,710,452 shares of the company’s stock worth $134,209,000 after purchasing an additional 3,365,110 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.
Extended Stay America (STAY) traded up $0.03 during midday trading on Wednesday, hitting $19.91. 1,642,396 shares of the stock traded hands, compared to its average volume of 1,675,317. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.96. Extended Stay America has a twelve month low of $13.60 and a twelve month high of $20.95. The stock has a market capitalization of $3,829.59, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05.
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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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