$151.39 Million in Sales Expected for Bojangles’, Inc. (BOJA) This Quarter
Wall Street brokerages expect that Bojangles’, Inc. (NASDAQ:BOJA) will report sales of $151.39 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Bojangles”s earnings, with the lowest sales estimate coming in at $149.60 million and the highest estimate coming in at $153.44 million. Bojangles’ reported sales of $139.43 million in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The firm is expected to announce its next quarterly earnings results on Tuesday, March 6th.
On average, analysts expect that Bojangles’ will report full year sales of $151.39 million for the current year, with estimates ranging from $549.31 million to $552.55 million. For the next fiscal year, analysts anticipate that the firm will post sales of $566.67 million per share, with estimates ranging from $554.90 million to $575.86 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Bojangles’.
Bojangles’ (NASDAQ:BOJA) last issued its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. Bojangles’ had a return on equity of 15.11% and a net margin of 6.13%. The business had revenue of $133.40 million during the quarter, compared to the consensus estimate of $133.88 million. During the same period in the previous year, the business earned $0.25 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis.
A number of brokerages have recently weighed in on BOJA. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $17.00 price target on shares of Bojangles’ in a report on Friday. Royal Bank Of Canada lowered their price target on Bojangles’ from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday. Cowen and Company downgraded Bojangles’ from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a report on Friday, October 20th. Stifel Nicolaus began coverage on Bojangles’ in a report on Monday, October 2nd. They issued a “hold” rating and a $16.00 price target for the company. Finally, Zacks Investment Research downgraded Bojangles’ from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $17.38.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in Bojangles’ by 15.0% during the 2nd quarter. FMR LLC now owns 3,109,039 shares of the restaurant operator’s stock worth $50,522,000 after buying an additional 406,647 shares during the last quarter. Vanguard Group Inc. grew its stake in Bojangles’ by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,362,803 shares of the restaurant operator’s stock worth $22,145,000 after buying an additional 118,281 shares during the last quarter. Tributary Capital Management LLC grew its stake in Bojangles’ by 11.7% during the 2nd quarter. Tributary Capital Management LLC now owns 873,850 shares of the restaurant operator’s stock worth $14,200,000 after buying an additional 91,818 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Bojangles’ by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 316,704 shares of the restaurant operator’s stock worth $5,147,000 after buying an additional 58,071 shares during the last quarter. Finally, State Street Corp grew its stake in Bojangles’ by 52.0% during the 2nd quarter. State Street Corp now owns 235,337 shares of the restaurant operator’s stock worth $3,828,000 after buying an additional 80,483 shares during the last quarter. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Shares of Bojangles’ (NASDAQ:BOJA) opened at $12.70 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.64 and a quick ratio of 0.56. The firm has a market cap of $470.78, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.44 and a beta of 1.91.
Bojangles’ declared that its Board of Directors has approved a share buyback program on Wednesday, November 1st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Bojangles’, Inc is a restaurant operator and franchisor. The Company offers food made from its Southern recipes. The Company’s menu includes its made-from-scratch, buttermilk biscuits baked fresh every 20 minutes; its fresh, never-frozen bone-in fried chicken; its fixin’s; its Bo-Smart menu featuring items, such as salads, grilled chicken sandwiches, roasted chicken bites and fat-free green beans; its freshly baked and delicious sweets menu, and its Legendary Iced Tea.
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