Extended Stay America, Inc. (NYSE:STAY) had its target price lowered by Bank of America Corporation from $24.00 to $21.00 in a report published on Wednesday morning. The brokerage currently has a buy rating on the stock.
STAY has been the topic of a number of other reports. Robert W. Baird reissued a buy rating and issued a $21.00 price target on shares of Extended Stay America in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Extended Stay America from a buy rating to a hold rating in a report on Wednesday, November 1st. BidaskClub downgraded shares of Extended Stay America from a buy rating to a hold rating in a report on Tuesday, July 25th. Morgan Stanley lowered their price target on shares of Extended Stay America from $20.00 to $18.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, Deutsche Bank AG lowered their price target on shares of Extended Stay America from $23.00 to $21.00 and set a buy rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $20.81.
Shares of Extended Stay America (STAY) traded down $0.69 during trading on Wednesday, hitting $16.81. 6,234,390 shares of the stock were exchanged, compared to its average volume of 2,679,637. Extended Stay America has a 52-week low of $14.75 and a 52-week high of $20.95. The stock has a market capitalization of $3,366.04, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.07 and a current ratio of 0.11.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Extended Stay America had a return on equity of 14.53% and a net margin of 5.83%. The firm had revenue of $350.86 million during the quarter, compared to analysts’ expectations of $359.70 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. equities research analysts expect that Extended Stay America will post 0.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Monday, November 20th. Extended Stay America’s dividend payout ratio (DPR) is 215.38%.
Several hedge funds have recently bought and sold shares of STAY. UBS Asset Management Americas Inc. increased its position in shares of Extended Stay America by 30.1% in the first quarter. UBS Asset Management Americas Inc. now owns 78,663 shares of the company’s stock worth $1,254,000 after purchasing an additional 18,216 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Extended Stay America by 5.8% in the first quarter. Parametric Portfolio Associates LLC now owns 109,703 shares of the company’s stock worth $1,749,000 after purchasing an additional 5,999 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Extended Stay America in the first quarter worth approximately $1,257,000. California Public Employees Retirement System bought a new position in shares of Extended Stay America in the first quarter worth approximately $309,000. Finally, Legal & General Group Plc increased its position in shares of Extended Stay America by 253.7% in the first quarter. Legal & General Group Plc now owns 32,601 shares of the company’s stock worth $520,000 after purchasing an additional 23,383 shares during the last quarter.
Extended Stay America Company Profile
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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