Brokers Issue Forecasts for Extended Stay America’s FY2019 Earnings (NYSE:STAY)
Extended Stay America (NYSE:STAY) – Equities research analysts at Jefferies Financial Group lowered their FY2019 EPS estimates for Extended Stay America in a research report issued to clients and investors on Thursday, November 7th. Jefferies Financial Group analyst D. Katz now expects that the company will earn $0.94 per share for the year, down from their previous estimate of $1.04. Jefferies Financial Group currently has a “Hold” rating and a $16.00 target price on the stock. Jefferies Financial Group also issued estimates for Extended Stay America’s Q4 2019 earnings at $0.13 EPS, Q1 2020 earnings at $0.18 EPS, Q2 2020 earnings at $0.31 EPS, Q3 2020 earnings at $0.34 EPS, Q4 2020 earnings at $0.18 EPS, FY2020 earnings at $1.01 EPS, Q3 2021 earnings at $0.33 EPS and FY2021 earnings at $0.96 EPS.
A number of other analysts have also commented on STAY. Nomura reaffirmed a “buy” rating and issued a $20.00 price target on shares of Extended Stay America in a research note on Thursday, August 8th. Barclays set a $17.00 price target on Extended Stay America and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered Extended Stay America from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $16.50 to $15.00 in a research note on Friday, September 6th. Morgan Stanley lowered Extended Stay America from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $20.00 to $15.00 in a research note on Friday, August 9th. Finally, Zacks Investment Research lowered Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price target for the company. in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.80.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.69 million. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year.
In other Extended Stay America news, insider Kevin A. Henry sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $13.86, for a total transaction of $103,950.00. Following the completion of the transaction, the insider now owns 108,683 shares of the company’s stock, valued at $1,506,346.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.
A number of institutional investors have recently made changes to their positions in STAY. BlackRock Inc. lifted its position in Extended Stay America by 31.5% during the second quarter. BlackRock Inc. now owns 16,639,370 shares of the company’s stock valued at $281,039,000 after buying an additional 3,988,717 shares during the period. Long Pond Capital LP lifted its position in Extended Stay America by 191.8% during the second quarter. Long Pond Capital LP now owns 4,547,620 shares of the company’s stock valued at $76,809,000 after buying an additional 2,988,907 shares during the period. Sterling Capital Management LLC lifted its position in Extended Stay America by 1,521.8% during the second quarter. Sterling Capital Management LLC now owns 2,506,980 shares of the company’s stock valued at $42,343,000 after buying an additional 2,352,398 shares during the period. Nuveen Asset Management LLC purchased a new position in Extended Stay America during the second quarter valued at $24,124,000. Finally, SG Americas Securities LLC lifted its position in Extended Stay America by 12,595.6% during the second quarter. SG Americas Securities LLC now owns 816,071 shares of the company’s stock valued at $13,783,000 after buying an additional 809,643 shares during the period. 96.67% of the stock is owned by institutional investors and hedge funds.
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.
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