Extended Stay America Inc (STAY) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $0.13 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.12. The company posted revenue of $287.60 million in the period, compared to analysts expectations of $285.41 million. During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Extended Stay America Inc. Shares were Reiterated by Barclays on Feb 29, 2016 to “Overweight” and Lowered the Price Target to $ 21 from a previous price target of $23 .Extended Stay America Inc was Upgraded by BofA/Merrill to ” Neutral” on Feb 17, 2016.
Extended Stay America Inc closed down -0.12 points or -0.77% at $15.43 with 4,33,079 shares getting traded on Friday. Post opening the session at $15.53, the shares hit an intraday low of $15.21 and an intraday high of $15.67 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Mar 4, 2016, William A Kussell (director) sold 40,000 shares at $14.76 per share price. According to the SEC, on Mar 3, 2016, Richard F Wallman (director) purchased 5,000 shares at $15.00 per share price. On Nov 17, 2015, Tom Seddon (officer ) purchased 18,900 shares at $16.84 per share price, according to the Form-4 filing with the securities and exchange commission.
Extended Stay America Inc. (Extended Stay) is an integrated owner/operator of company-branded hotels in North America. The Company’s business operates in the extended stay lodging industry. The Company owns and operates approximately 682 hotels comprising approximately 76000 rooms located in 44 states across the United States and in Canada. It owns and operates approximately 632 of its hotels under its brand Extended Stay America which serves the mid-price extended stay segment. In addition the Company owns and operates three Extended Stay Canada hotels and approximately 47 hotels in the economy extended stay segment under the Crossland Economy Studios brand. The Company operates approximately 682 hotels owned by its subsidiary ESH Hospitality Inc. (ESH REIT). The Company’s hotels feature furnished rooms with in-room kitchens complimentary grab-and-go breakfast free WiFi flat screen TVs and limited housekeeping service.