$0.11 Earnings Per Share Expected for Extended Stay America, Inc. (NYSE:STAY) This Quarter

Brokerages forecast that Extended Stay America, Inc. (NYSE:STAY) will post earnings per share (EPS) of $0.11 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Extended Stay America’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.18. Extended Stay America posted earnings of ($0.04) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 375%. The firm is expected to report its next earnings results on Monday, August 9th.

On average, analysts expect that Extended Stay America will report full year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.57. For the next fiscal year, analysts anticipate that the business will report earnings of $0.69 per share, with EPS estimates ranging from $0.44 to $0.84. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings data on Monday, May 10th. The company reported $0.04 EPS for the quarter. The company had revenue of $257.80 million for the quarter, compared to the consensus estimate of $252.40 million. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share.

A number of brokerages have commented on STAY. Robert W. Baird raised Extended Stay America from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $15.00 to $19.00 in a report on Monday, March 15th. Jefferies Financial Group reissued a “hold” rating and set a $19.50 price objective on shares of Extended Stay America in a report on Monday, March 22nd. Stifel Nicolaus reissued a “hold” rating and set a $19.50 price objective (up from $17.50) on shares of Extended Stay America in a report on Tuesday, March 23rd. Finally, Morgan Stanley upped their target price on Extended Stay America from $13.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, January 20th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.85.

A number of institutional investors have recently bought and sold shares of the stock. Starwood Capital Group Management L.L.C. purchased a new position in Extended Stay America in the fourth quarter valued at approximately $247,242,000. Hawk Ridge Capital Management LP boosted its holdings in shares of Extended Stay America by 8.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 3,607,120 shares of the company’s stock worth $53,421,000 after acquiring an additional 281,193 shares during the period. Long Pond Capital LP boosted its holdings in shares of Extended Stay America by 126.4% in the fourth quarter. Long Pond Capital LP now owns 3,591,045 shares of the company’s stock worth $53,183,000 after acquiring an additional 2,004,639 shares during the period. Water Island Capital LLC bought a new position in shares of Extended Stay America in the first quarter worth $56,355,000. Finally, Reinhart Partners Inc. boosted its holdings in shares of Extended Stay America by 10.7% in the first quarter. Reinhart Partners Inc. now owns 2,825,440 shares of the company’s stock worth $55,803,000 after acquiring an additional 273,976 shares during the period. Institutional investors and hedge funds own 96.67% of the company’s stock.

STAY traded down $0.07 during midday trading on Thursday, reaching $19.55. 2,163,095 shares of the company were exchanged, compared to its average volume of 2,429,643. The company’s fifty day moving average price is $19.75 and its 200 day moving average price is $15.98. Extended Stay America has a one year low of $9.82 and a one year high of $20.08.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were paid a $0.09 dividend. This is an increase from Extended Stay America’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $0.36 annualized dividend and a yield of 1.84%.

About Extended Stay America

Extended Stay America, Inc, together with its subsidiaries, owns, operates, develops, and manages hotels in the United States. As of December 31, 2020, the company had a network of 646 hotels. It serves customers in the mid-priced extended stay segment. The company also licenses Extended Stay America brand to third-party franchisees.

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

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