Analysts forecast that Fogo De Chao Inc (NASDAQ:FOGO) will announce $77.01 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Fogo De Chao’s earnings, with the lowest sales estimate coming in at $75 million and the highest estimate coming in at $78.92 million. Fogo De Chao reported sales of $69.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Fogo De Chao will report full year sales of $77.01 million for the current fiscal year, with estimates ranging from $316.5 million to $318.96 million. For the next fiscal year, analysts forecast that the firm will report sales of $353.08 million per share, with estimates ranging from $344.24 million to $363.7 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Fogo De Chao.
Fogo De Chao (NASDAQ:FOGO) last posted its quarterly earnings data on Monday, May 8th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. Fogo De Chao had a return on equity of 9.35% and a net margin of 10.39%. The firm had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $75.06 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year.
Several research analysts have issued reports on FOGO shares. Canaccord Genuity restated a “hold” rating and set a $16.00 target price (up previously from $14.00) on shares of Fogo De Chao in a research report on Saturday, April 22nd. Deutsche Bank AG boosted their price target on Fogo De Chao from $14.50 to $15.00 and gave the company a “hold” rating in a report on Wednesday, March 15th. Wells Fargo & Co boosted their price objective on shares of Fogo De Chao from $13.25 to $15.50 and gave the stock an “in-line” rating in a research note on Wednesday, March 15th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $17.00 price objective on shares of Fogo De Chao in a research note on Wednesday, March 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.42.
Shares of Fogo De Chao (NASDAQ:FOGO) opened at 15.65 on Friday. The company’s 50-day moving average price is $16.02 and its 200 day moving average price is $14.34. Fogo De Chao has a one year low of $10.50 and a one year high of $17.19. The stock has a market capitalization of $441.52 million, a PE ratio of 18.41 and a beta of 0.44.
A number of large investors have recently bought and sold shares of FOGO. Oxford Asset Management purchased a new stake in Fogo De Chao during the first quarter valued at about $553,000. Bank of New York Mellon Corp raised its stake in 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 valued at $829,000 after buying an additional 2,537 shares during the last quarter. Thomson Horstmann & Bryant Inc. purchased a new stake in Fogo De Chao during the first quarter valued at about $1,570,000. River & Mercantile Asset Management LLP purchased a new stake in Fogo De Chao during the fourth quarter valued at about $2,684,000. Finally, Two Sigma Investments LP purchased a new stake in Fogo De Chao during the fourth quarter valued at about $183,000. 91.20% of the stock is currently owned by institutional investors.
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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