Extended Stay America (NYSE:STAY) Receives Average Rating of “Hold” from Analysts

Shares of Extended Stay America (NYSE:STAY) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.38.

A number of research firms recently commented on STAY. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a research note on Thursday, May 28th. Morgan Stanley boosted their target price on shares of Extended Stay America from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Finally, Deutsche Bank reiterated a “buy” rating and set a $16.00 price target on shares of Extended Stay America in a research report on Monday, August 10th.

Shares of NYSE STAY traded down $0.08 during midday trading on Wednesday, reaching $12.58. The company’s stock had a trading volume of 2,219,524 shares, compared to its average volume of 2,597,975. The business’s 50 day moving average price is $12.41 and its two-hundred day moving average price is $10.74. Extended Stay America has a fifty-two week low of $5.35 and a fifty-two week high of $15.29.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $230.80 million during the quarter, compared to analyst estimates of $229.63 million. Extended Stay America’s revenue was down 28.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%.

Large investors have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust bought a new position in Extended Stay America in the second quarter valued at approximately $29,000. Parallel Advisors LLC grew its stake in shares of Extended Stay America by 73.1% during the second quarter. Parallel Advisors LLC now owns 3,617 shares of the company’s stock worth $40,000 after buying an additional 1,527 shares during the last quarter. Bamco Inc. NY bought a new stake in shares of Extended Stay America during the second quarter worth $68,000. Oppenheimer & Co. Inc. bought a new stake in shares of Extended Stay America during the first quarter worth $79,000. Finally, First Quadrant L P CA grew its stake in shares of Extended Stay America by 1,525.8% during the first quarter. First Quadrant L P CA now owns 11,202 shares of the company’s stock worth $82,000 after buying an additional 10,513 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Extended Stay America (NYSE:STAY)

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