Equities Analysts Offer Predictions for Noodles & Co.’s Q3 2016 Earnings (NDLS)
Noodles & Co. (NASDAQ:NDLS) – Research analysts at SunTrust Banks decreased their Q3 2016 earnings per share estimates for Noodles & Co. in a note issued to investors on Wednesday. SunTrust Banks analyst J. Bartlett now expects that the brokerage will earn ($0.04) per share for the quarter, down from their previous estimate of ($0.03). SunTrust Banks also issued estimates for Noodles & Co.’s Q4 2016 earnings at $0.00 EPS, FY2016 earnings at ($0.13) EPS and FY2017 earnings at ($0.09) EPS.
Several other research firms have also commented on NDLS. Robert W. Baird reissued a “neutral” rating on shares of Noodles & Co. in a research note on Thursday, September 8th. Zacks Investment Research raised shares of Noodles & Co. from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th. Piper Jaffray Cos. reaffirmed an “underweight” rating and issued a $7.00 target price (down from $8.00) on shares of Noodles & Co. in a report on Wednesday, July 27th. Jefferies Group cut shares of Noodles & Co. from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Tuesday, July 26th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $8.00 target price (down from $13.00) on shares of Noodles & Co. in a report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.14.
Noodles & Co. (NASDAQ:NDLS) opened at 4.36 on Monday. Noodles & Co. has a 52-week low of $4.27 and a 52-week high of $14.95. The stock’s 50 day moving average is $5.51 and its 200-day moving average is $8.62. The company’s market capitalization is $121.41 million.
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Noodles & Co. (NASDAQ:NDLS) last released its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.02. Noodles & Co. had a negative net margin of 6.50% and a negative return on equity of 2.75%. The company had revenue of $121.40 million for the quarter, compared to the consensus estimate of $121.15 million. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in the stock. CoreCommodity Management LLC acquired a new stake in shares of Noodles & Co. during the second quarter worth approximately $66,845,000. Emerald Acquisition Ltd. acquired a new stake in shares of Noodles & Co. during the second quarter worth approximately $3,605,000. Netols Asset Management Inc. boosted its stake in shares of Noodles & Co. by 8.3% in the second quarter. Netols Asset Management Inc. now owns 520,711 shares of the company’s stock worth $5,093,000 after buying an additional 39,714 shares in the last quarter. A.R.T. Advisors LLC boosted its stake in shares of Noodles & Co. by 114.9% in the second quarter. A.R.T. Advisors LLC now owns 27,305 shares of the company’s stock worth $267,000 after buying an additional 14,600 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Noodles & Co. by 9.2% in the first quarter. Geode Capital Management LLC now owns 137,447 shares of the company’s stock worth $1,630,000 after buying an additional 11,525 shares in the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.
About Noodles & Co.
Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province.
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