Kona Grill, Inc. (KONA) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS
Kona Grill, Inc. (NASDAQ:KONA) announced its earnings results on Thursday. The restaurant operator reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.11), Briefing.com reports. The company had revenue of $44.40 million for the quarter, compared to analysts’ expectations of $46.32 million. Kona Grill had a negative net margin of 14.98% and a negative return on equity of 39.42%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) EPS.
Kona Grill (KONA) traded down $0.60 during mid-day trading on Friday, reaching $2.05. The company’s stock had a trading volume of 374,700 shares, compared to its average volume of 147,005. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.36 and a current ratio of 0.48. Kona Grill has a twelve month low of $1.50 and a twelve month high of $13.50.
Several research analysts recently issued reports on the company. Lake Street Capital cut their target price on Kona Grill from $5.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Kona Grill in a research report on Monday, July 24th. Telsey Advisory Group cut their target price on Kona Grill from $8.00 to $4.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 1st. ValuEngine cut Kona Grill from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised Kona Grill from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. One research 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. Kona Grill presently has an average rating of “Hold” and a consensus price target of $6.17.
Kona Grill Company Profile
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.
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