Nomura Cuts Extended Stay America, Inc. (STAY) Price Target to $23.00
Other analysts also recently issued reports about the company. BidaskClub upgraded Extended Stay America from a sell rating to a hold rating in a research note on Saturday, October 7th. Stifel Nicolaus lowered their target price on Extended Stay America from $21.00 to $19.25 and set a buy rating for the company in a research note on Wednesday. ValuEngine downgraded Extended Stay America from a buy rating to a hold rating in a research note on Tuesday. Zacks Investment Research downgraded Extended Stay America from a hold rating to a sell rating in a research note on Tuesday, October 17th. Finally, Robert W. Baird reiterated a buy rating and issued a $21.00 price target on shares of Extended Stay America in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $20.81.
Shares of Extended Stay America (STAY) traded down $0.69 during midday trading on Wednesday, reaching $16.81. The company had a trading volume of 6,234,390 shares, compared to its average volume of 2,679,637. Extended Stay America has a 52-week low of $14.75 and a 52-week high of $20.95. The firm has a market cap of $3,366.04, a P/E ratio of 17.33, a P/E/G ratio of 3.16 and a beta of 1.05. The company has a current ratio of 0.11, a quick ratio of 0.07 and a debt-to-equity ratio of 0.94.
Extended Stay America (NYSE:STAY) last announced its quarterly 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 prior year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. equities analysts predict that Extended Stay America will post 0.97 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 5.00%. Extended Stay America’s dividend payout ratio is currently 215.38%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STAY. Public Employees Retirement Association of Colorado raised its holdings in shares of Extended Stay America by 122.8% during the second quarter. Public Employees Retirement Association of Colorado now owns 5,202 shares of the company’s stock valued at $101,000 after buying an additional 2,867 shares during the last quarter. Cable Hill Partners LLC bought a new stake in shares of Extended Stay America during the third quarter valued at approximately $104,000. The Manufacturers Life Insurance Company raised its holdings in shares of Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after buying an additional 367 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Extended Stay America by 108.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 7,073 shares of the company’s stock valued at $141,000 after acquiring an additional 3,678 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Extended Stay America during the second quarter valued at approximately $148,000.
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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