Jefferies Financial Group Weighs in on Extended Stay America’s FY2018 Earnings (STAY)
Extended Stay America (NYSE:STAY) – Jefferies Financial Group raised their FY2018 earnings per share estimates for Extended Stay America in a report released on Monday, December 3rd. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings of $1.13 per share for the year, up from their prior estimate of $1.12.
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 Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $351.10 million during the quarter, compared to the consensus estimate of $344.17 million. During the same period in the previous year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year.
Shares of NYSE:STAY opened at $17.88 on Wednesday. Extended Stay America has a 12 month low of $15.73 and a 12 month high of $22.58.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Wednesday, November 14th.
A number of large investors have recently modified their holdings of STAY. Schroder Investment Management Group grew its holdings in Extended Stay America by 998.7% during the 2nd quarter. Schroder Investment Management Group now owns 3,052,990 shares of the company’s stock worth $65,609,000 after acquiring an additional 2,775,117 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Extended Stay America in the 3rd quarter valued at about $31,942,000. Cohen & Steers Inc. boosted its stake in shares of Extended Stay America by 54.6% in the 3rd quarter. Cohen & Steers Inc. now owns 4,190,714 shares of the company’s stock valued at $84,778,000 after purchasing an additional 1,479,627 shares during the last quarter. FIL Ltd boosted its stake in shares of Extended Stay America by 104.6% in the 3rd quarter. FIL Ltd now owns 2,561,000 shares of the company’s stock valued at $51,809,000 after purchasing an additional 1,309,400 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Extended Stay America in the 2nd quarter valued at about $22,283,000. 96.67% of the stock is currently owned by hedge funds and other institutional investors.
Extended Stay America Company Profile
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.
Further Reading: What is a Roth IRA?
Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.