-$0.20 EPS Expected for Kona Grill, Inc. (KONA) This Quarter
Wall Street analysts forecast that Kona Grill, Inc. (NASDAQ:KONA) will announce earnings per share of ($0.20) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Kona Grill’s earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.24). Kona Grill posted earnings per share of ($0.24) during the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is expected to announce its next quarterly earnings results on Thursday, October 26th.
Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Kona Grill.
Kona Grill (NASDAQ:KONA) last issued its quarterly earnings data on Monday, July 31st. The restaurant operator reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.14. Kona Grill had a negative return on equity of 39.42% and a negative net margin of 14.98%. The business had revenue of $46.98 million during the quarter, compared to analysts’ expectations of $48.96 million. During the same quarter last year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis.
A number of research analysts recently weighed in on the stock. Lake Street Capital restated a “buy” rating and set a $5.00 target price (down previously from $9.00) on shares of Kona Grill in a research note on Tuesday, August 1st. Raymond James Financial, Inc. restated a “market perform” rating on shares of Kona Grill in a research note on Monday, July 24th. Telsey Advisory Group cut shares of Kona Grill from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $13.00 to $8.00 in a research note on Tuesday, May 9th. ValuEngine cut shares of Kona Grill from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, Wedbush restated an “outperform” rating and set a $11.00 target price (up previously from $10.00) on shares of Kona Grill in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $6.67.
COPYRIGHT VIOLATION NOTICE: “-$0.20 EPS Expected for Kona Grill, Inc. (KONA) This Quarter” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/0-20-eps-expected-for-kona-grill-inc-kona-this-quarter/1495276.html.
Shares of Kona Grill (KONA) traded up 15.435% during midday trading on Wednesday, hitting $2.655. The company had a trading volume of 270,541 shares. The firm’s market capitalization is $26.82 million. The stock has a 50 day moving average price of $2.64 and a 200 day moving average price of $4.97. Kona Grill has a 1-year low of $1.50 and a 1-year high of $14.44.
In other news, major shareholder Bbs Capital Fund Lp purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were bought at an average cost of $3.65 per share, for a total transaction of $182,500.00. Following the acquisition, the insider now owns 92,602 shares of the company’s stock, valued at approximately $337,997.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Jundt purchased 21,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $1.59 per share, for a total transaction of $33,549.00. Following the completion of the acquisition, the director now directly owns 696,611 shares in the company, valued at approximately $1,107,611.49. The disclosure for this purchase can be found here. Insiders have purchased a total of 152,100 shares of company stock worth $345,439 over the last quarter. 29.20% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. LMR Partners LLP purchased a new position in shares of Kona Grill during the second quarter valued at approximately $109,000. Goldman Sachs Group Inc. purchased a new position in shares of Kona Grill during the second quarter valued at approximately $159,000. Engine Capital Management LLC purchased a new position in shares of Kona Grill during the first quarter valued at approximately $189,000. KCG Holdings Inc. purchased a new position in shares of Kona Grill during the first quarter valued at approximately $200,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Kona Grill by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 357,547 shares of the restaurant operator’s stock valued at $1,323,000 after buying an additional 33,717 shares during the last quarter. Institutional investors own 58.53% of the company’s stock.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kona Grill Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kona Grill Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.