Extended Stay America (NYSE:STAY) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.00-1.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.07. The company issued revenue guidance of $1.215-1.23 billion, compared to the consensus revenue estimate of $1.23 billion.
Shares of Extended Stay America stock traded down $0.37 during trading hours on Friday, hitting $14.65. The company’s stock had a trading volume of 4,232,707 shares, compared to its average volume of 1,817,604. Extended Stay America has a twelve month low of $12.88 and a twelve month high of $21.26. The company’s fifty day simple moving average is $16.44.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). The firm had revenue of $323.70 million during the quarter, compared to analyst estimates of $317.12 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 6.28%. The ex-dividend date is Tuesday, August 20th.
STAY has been the topic of several recent analyst reports. Deutsche Bank set a $22.00 price target on Extended Stay America and gave the company a buy rating in a research note on Wednesday. Jefferies Financial Group lowered Extended Stay America from a buy rating to a hold rating and decreased their price target for the company from $24.00 to $16.00 in a research note on Thursday. They noted that the move was a valuation call. Morgan Stanley downgraded Extended Stay America from an overweight rating to an equal weight rating and cut their price objective for the company from $20.00 to $15.00 in a report on Friday. Stifel Nicolaus cut their price objective on Extended Stay America from $20.50 to $18.00 and set a buy rating on the stock in a report on Wednesday. Finally, Robert W. Baird set a $19.00 price objective on Extended Stay America and gave the company a buy rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $18.70.
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.
Further Reading: Certificate of Deposit (CD)
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