Brokerages Anticipate Fogo de Chao, Inc. (FOGO) Will Announce Earnings of $0.23 Per Share

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.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://sportsperspectives.com/2017/08/09/brokerages-anticipate-fogo-de-chao-inc-fogo-will-announce-earnings-of-0-23-per-share-updated-updated-updated.html.

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).

Get a free copy of the Zacks research report on Fogo de Chao (FOGO)

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

Receive News & Ratings for Fogo de Chao Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fogo de Chao Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply