Equities research analysts expect La Quinta Holdings Inc. (NYSE:LQ) to announce sales of $267.94 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for La Quinta Holdings’ earnings. The highest sales estimate is $275.72 million and the lowest is $260.00 million. La Quinta Holdings reported sales of $272.31 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that La Quinta Holdings will report full year sales of $267.94 million for the current financial year, with estimates ranging from $963.00 million to $999.78 million. For the next fiscal year, analysts forecast that the company will report sales of $1.01 billion per share, with estimates ranging from $969.00 million to $1.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for La Quinta Holdings.

La Quinta Holdings (NYSE:LQ) last announced its earnings results on Monday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. La Quinta Holdings had a return on equity of 7.28% and a net margin of 4.13%. The firm had revenue of $263.40 million for the quarter, compared to analyst estimates of $260.44 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue was down 2.3% on a year-over-year basis.

A number of analysts recently weighed in on the company. TheStreet upgraded La Quinta Holdings from a “c” rating to a “b” rating in a research note on Tuesday, August 8th. Morgan Stanley upgraded La Quinta Holdings from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.50 to $16.00 in a research note on Thursday, June 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded La Quinta Holdings from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, July 5th. Finally, BidaskClub upgraded La Quinta Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $13.41.

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of La Quinta Holdings by 3.1% in the second quarter. JPMorgan Chase & Co. now owns 7,917,905 shares of the company’s stock valued at $116,948,000 after buying an additional 241,482 shares in the last quarter. Vanguard Group Inc. boosted its position in La Quinta Holdings by 2.0% during the second quarter. Vanguard Group Inc. now owns 6,658,222 shares of the company’s stock worth $98,342,000 after purchasing an additional 131,315 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in La Quinta Holdings by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,559,141 shares of the company’s stock worth $52,569,000 after purchasing an additional 83,790 shares in the last quarter. First Eagle Investment Management LLC boosted its position in La Quinta Holdings by 68.6% during the second quarter. First Eagle Investment Management LLC now owns 3,092,505 shares of the company’s stock worth $45,676,000 after purchasing an additional 1,258,565 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in La Quinta Holdings by 12.8% during the first quarter. Citadel Advisors LLC now owns 3,087,851 shares of the company’s stock worth $41,748,000 after purchasing an additional 349,367 shares in the last quarter. Hedge funds and other institutional investors own 97.02% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Zacks: Analysts Expect La Quinta Holdings Inc. (LQ) Will Post Quarterly Sales of $267.94 Million” was posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://theolympiareport.com/2017/09/21/zacks-analysts-expect-la-quinta-holdings-inc-lq-will-post-quarterly-sales-of-267-94-million.html.

About La Quinta Holdings

La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.

Get a free copy of the Zacks research report on La Quinta Holdings (LQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for La Quinta Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La Quinta Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.