Extended Stay America (STAY) Raised to “Overweight” at 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 research report report published on Wednesday morning, MarketBeat Ratings reports. The firm currently has $21.00 price objective on the stock.
STAY has been the subject of several other research reports. Zacks Investment Research cut shares of Extended Stay America from a buy rating to a hold rating in a report on Wednesday, November 1st. Robert W. Baird restated a buy rating and issued a $21.00 target price on shares of Extended Stay America in a report on Thursday, October 12th. BidaskClub cut shares of Extended Stay America from a hold rating to a sell rating in a research note on Wednesday, October 25th. Deutsche Bank decreased their price target on shares of Extended Stay America from $23.00 to $21.00 and set a buy rating for the company in a research note on Wednesday, November 8th. Finally, Nomura decreased 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 research note on Wednesday, November 8th. 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 an average rating of Buy and an average price target of $21.03.
Extended Stay America (STAY) opened at $17.78 on Wednesday. Extended Stay America has a twelve month low of $15.43 and a twelve month high of $20.95. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $3,419.89, a price-to-earnings ratio of 17.60, a PEG ratio of 3.21 and a beta of 0.97.
Extended Stay America (NYSE:STAY) last issued its earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Extended Stay America had a net margin of 5.83% and a return on equity of 14.53%. The company had revenue of $350.86 million during the quarter, compared to analyst estimates of $359.70 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. sell-side analysts expect that Extended Stay America will post 0.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Monday, November 20th. Extended Stay America’s dividend payout ratio is currently 215.38%.
Large investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado boosted its stake in Extended Stay America by 122.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock worth $101,000 after purchasing an additional 2,867 shares during the period. Cable Hill Partners LLC acquired a new stake in shares of Extended Stay America in the 3rd quarter worth $104,000. The Manufacturers Life Insurance Company lifted its stake in shares of Extended Stay America by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after acquiring an additional 367 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Extended Stay America by 108.3% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 7,073 shares of the company’s stock worth $141,000 after acquiring an additional 3,678 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Extended Stay America in the 2nd quarter worth $148,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
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About Extended Stay America
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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