Wall Street brokerages forecast that Fogo de Chao, Inc. (NASDAQ:FOGO) will report $0.23 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Fogo de Chao’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.25. Fogo de Chao reported earnings of $0.22 per share in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The firm is expected to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Fogo de Chao will report full-year earnings of $0.92 per share for the current fiscal year, with EPS estimates ranging from $0.92 to $0.94. For the next financial year, analysts expect that the company will post earnings of $0.99 per share, with EPS estimates ranging from $0.92 to $1.05. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Fogo de Chao.
Fogo de Chao (NASDAQ:FOGO) last posted its quarterly earnings results on Monday, May 8th. The restaurant operator reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Fogo de Chao had a net margin of 7.92% and a return on equity of 8.32%. The business had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $75.06 million. During the same period in the previous year, the company posted $0.21 EPS. Fogo de Chao’s revenue was up 10.9% on a year-over-year basis.
A number of equities research analysts recently commented on FOGO shares. Zacks Investment Research upgraded shares of Fogo de Chao from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, May 31st. Canaccord Genuity upgraded shares of Fogo de Chao from a “hold” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $20.00 in a report on Thursday, May 4th. Finally, BidaskClub lowered shares of Fogo de Chao from a “sell” rating to a “strong sell” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.36.
Fogo de Chao (NASDAQ FOGO) traded up 1.13% during trading on Wednesday, hitting $13.45. 79,378 shares of the stock traded hands. The company has a market capitalization of $379.45 million, a P/E ratio of 16.60 and a beta of 0.37. Fogo de Chao has a one year low of $10.50 and a one year high of $17.05. The company’s 50 day moving average is $13.87 and its 200 day moving average is $14.59.
In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 675,000 shares of Fogo de Chao stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $14.00, for a total value of $9,450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Todd M. Abbrecht sold 4,500,000 shares of Fogo de Chao stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $14.00, for a total transaction of $63,000,000.00. The disclosure for this sale can be found here. 82.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP purchased a new position in shares of Fogo de Chao during the fourth quarter worth approximately $183,000. River & Mercantile Asset Management LLP purchased a new position in shares of Fogo de Chao during the fourth quarter worth approximately $2,684,000. Thomson Horstmann & Bryant Inc. purchased a new position in shares of Fogo de Chao during the first quarter worth approximately $1,570,000. Bank of New York Mellon Corp increased its position in shares of Fogo de Chao by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock worth $829,000 after buying an additional 2,537 shares during the period. Finally, Oxford Asset Management purchased a new position in shares of Fogo de Chao during the first quarter worth approximately $553,000. 90.62% of the stock is owned by institutional investors.
About Fogo de Chao
Fogo de Chao, Inc is a United States-based holding company. The Company, through its subsidiaries, operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc (Brasa Purchaser), which owns 100% of Brasa (Holdings) Inc (Brasa Holdings).
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