Jefferies Group Weighs in on Fogo de Chao, Inc.’s FY2017 Earnings (FOGO)
Fogo de Chao, Inc. (NASDAQ:FOGO) – Analysts at Jefferies Group reduced their FY2017 earnings estimates for Fogo de Chao in a research note issued to investors on Tuesday. Jefferies Group analyst A. Barish now forecasts that the restaurant operator will post earnings of $0.77 per share for the year, down from their previous estimate of $0.78. Jefferies Group also issued estimates for Fogo de Chao’s Q4 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.31 EPS and FY2018 earnings at $0.85 EPS.
Several other research firms have also issued reports on FOGO. BidaskClub upgraded Fogo de Chao from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Piper Jaffray Companies restated a “buy” rating and set a $16.00 target price on shares of Fogo de Chao in a research report on Thursday, August 10th. Zacks Investment Research upgraded Fogo de Chao from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. ValuEngine upgraded Fogo de Chao from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Canaccord Genuity decreased their target price on Fogo de Chao from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.67.
Fogo de Chao (NASDAQ FOGO) opened at $10.45 on Thursday. The stock has a market capitalization of $299.48, a PE ratio of 13.77, a PEG ratio of 0.93 and a beta of 0.32. Fogo de Chao has a 12-month low of $10.30 and a 12-month high of $17.05. The company has a current ratio of 1.69, a quick ratio of 1.53 and a debt-to-equity ratio of 0.47.
Fogo de Chao (NASDAQ:FOGO) last posted its earnings results on Tuesday, November 7th. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $71.40 million during the quarter, compared to analyst estimates of $71.40 million. Fogo de Chao had a return on equity of 7.42% and a net margin of 6.76%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Archon Capital Management LLC grew its position in shares of Fogo de Chao by 44.5% in the 3rd quarter. Archon Capital Management LLC now owns 544,267 shares of the restaurant operator’s stock valued at $6,749,000 after purchasing an additional 167,607 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fogo de Chao in the 3rd quarter valued at approximately $161,000. Russell Investments Group Ltd. grew its position in shares of Fogo de Chao by 24.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 82,482 shares of the restaurant operator’s stock valued at $1,024,000 after purchasing an additional 16,303 shares during the period. Bessemer Group Inc. grew its position in shares of Fogo de Chao by 132.5% in the 3rd quarter. Bessemer Group Inc. now owns 8,300 shares of the restaurant operator’s stock valued at $103,000 after purchasing an additional 4,730 shares during the period. Finally, Boston Partners grew its position in shares of Fogo de Chao by 10.8% in the 3rd quarter. Boston Partners now owns 180,020 shares of the restaurant operator’s stock valued at $2,232,000 after purchasing an additional 17,560 shares during the period. Institutional investors and hedge funds own 85.69% of the company’s stock.
Fogo de Chao Company Profile
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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