$319.63 Million in Sales Expected for Extended Stay America (STAY) This Quarter

Equities research analysts expect Extended Stay America (NYSE:STAY) to announce sales of $319.63 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Extended Stay America’s earnings, with the lowest sales estimate coming in at $313.59 million and the highest estimate coming in at $324.90 million. Extended Stay America reported sales of $336.50 million during the same quarter last year, which indicates a negative year over year growth rate of 5%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Extended Stay America will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.20 billion to $1.24 billion. For the next year, analysts forecast that the firm will post sales of $1.24 billion, with estimates ranging from $1.22 billion to $1.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last issued its earnings results on Wednesday, May 1st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $277.67 million during the quarter, compared to analyst estimates of $273.58 million. During the same period in the previous year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis.

STAY has been the topic of a number of analyst reports. Deutsche Bank reissued a “buy” rating and set a $22.00 price objective on shares of Extended Stay America in a report on Sunday, May 5th. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday, May 1st. Finally, Goldman Sachs Group raised Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.36.

A number of large investors have recently made changes to their positions in STAY. Advisor Group Inc. lifted its position in shares of Extended Stay America by 4.9% in the 4th quarter. Advisor Group Inc. now owns 19,060 shares of the company’s stock worth $296,000 after acquiring an additional 898 shares during the period. Three Peaks Capital Management LLC lifted its position in shares of Extended Stay America by 0.7% in the 1st quarter. Three Peaks Capital Management LLC now owns 173,119 shares of the company’s stock worth $3,107,000 after acquiring an additional 1,157 shares during the period. Raymond James Trust N.A. lifted its position in shares of Extended Stay America by 5.2% in the 1st quarter. Raymond James Trust N.A. now owns 29,363 shares of the company’s stock worth $527,000 after acquiring an additional 1,451 shares during the period. Athena Capital Advisors LLC bought a new stake in shares of Extended Stay America in the 4th quarter worth approximately $31,000. Finally, Strs Ohio lifted its position in shares of Extended Stay America by 10.4% in the 4th quarter. Strs Ohio now owns 21,946 shares of the company’s stock worth $340,000 after acquiring an additional 2,061 shares during the period. Hedge funds and other institutional investors own 96.67% of the company’s stock.

Shares of NYSE STAY remained flat at $$17.01 during mid-day trading on Friday. The stock had a trading volume of 1,219,483 shares, compared to its average volume of 1,796,479. Extended Stay America has a fifty-two week low of $14.77 and a fifty-two week high of $22.58.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a dividend of $0.23 per share. This is an increase from Extended Stay America’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.92 annualized dividend and a yield of 5.41%.

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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Earnings History and Estimates for Extended Stay America (NYSE:STAY)

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