Extended Stay America reports Q1 adjusted paired share income 11c Q1 EPS consensus 12c. Reports Q1 revenue $270.3M, consensus $267.88M. Reports Q1 RevPar $38.79M. Reports Impact of renovations and weather-related costs in Q1 resulted in Hotel Operating Margin1 decrease of approximately 180 basis points to 48.2%.
News For STAY From The Last 14 Days
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Extended Stay America resumed with an Overweight at JPMorgan JPMorgan resumed shares of Extended Stay America with an Overweight rating, calling the stock an "interesting contrarian idea" in the lodging space. The firm believes expectations are low with easy comparisons in Q4 and Q1. JPMorgan lowered its price target for shares to $27 from $28.