Zacks: Brokerages Anticipate La Quinta Holdings Inc (LQ) Will Announce Quarterly Sales of $220.98 Million
Wall Street brokerages predict that La Quinta Holdings Inc (NYSE:LQ) will post sales of $220.98 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for La Quinta’s earnings, with the highest sales estimate coming in at $223.05 million and the lowest estimate coming in at $220.00 million. La Quinta posted sales of $222.62 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that La Quinta will report full year sales of $220.98 million for the current financial year, with estimates ranging from $965.00 million to $993.79 million. For the next fiscal year, analysts expect that the business will report sales of $1.00 billion per share, with estimates ranging from $974.00 million to $1.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover La Quinta.
A number of research analysts have issued reports on LQ shares. Deutsche Bank upped their price objective on La Quinta to $23.00 and gave the company a “buy” rating in a research note on Friday, January 19th. UBS Group upgraded La Quinta from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. TheStreet downgraded La Quinta from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Zacks Investment Research downgraded La Quinta from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of La Quinta in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.85.
Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC bought a new position in shares of La Quinta during the 2nd quarter worth $159,000. Neuberger Berman Group LLC bought a new position in shares of La Quinta during the 3rd quarter worth $182,000. Virtu Financial LLC bought a new position in shares of La Quinta during the 4th quarter worth $219,000. SG Americas Securities LLC bought a new position in shares of La Quinta during the 3rd quarter worth $232,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of La Quinta by 1,125.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,700 shares of the company’s stock worth $271,000 after acquiring an additional 13,500 shares during the period. Institutional investors own 97.30% of the company’s stock.
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About La Quinta
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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