Kona Grill, Inc. (KONA) Expected to Announce Quarterly Sales of $48.83 Million
Analysts forecast that Kona Grill, Inc. (NASDAQ:KONA) will post sales of $48.83 million for the current quarter, Zacks reports. Three analysts have provided estimates for Kona Grill’s earnings, with the highest sales estimate coming in at $49.00 million and the lowest estimate coming in at $48.63 million. Kona Grill reported sales of $43.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.8%. The firm is expected to report its next quarterly earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that Kona Grill will report full year sales of $48.83 million for the current year, with estimates ranging from $187.34 million to $189.75 million. For the next financial year, analysts forecast that the firm will post sales of $194.64 million per share, with estimates ranging from $193.32 million to $196.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kona Grill.
Kona Grill (NASDAQ:KONA) last announced its quarterly earnings results on Monday, May 8th. The restaurant operator reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.11. The company had revenue of $45.20 million during the quarter, compared to analyst estimates of $46.96 million. Kona Grill had a negative net margin of 13.31% and a negative return on equity of 30.92%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) earnings per share.
Several research analysts recently commented on KONA shares. Telsey Advisory Group downgraded shares of Kona Grill from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $13.00 to $8.00 in a report on Tuesday, May 9th. Wedbush reiterated an “outperform” rating and issued a $11.00 target price (up previously from $10.00) on shares of Kona Grill in a report on Tuesday, May 9th. Finally, ValuEngine downgraded shares of Kona Grill from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $12.75.
In other Kona Grill news, major shareholder Bbs Capital Fund Lp bought 50,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were acquired at an average cost of $4.83 per share, for a total transaction of $241,500.00. Following the transaction, the insider now owns 92,602 shares in the company, valued at $447,267.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 100,500 shares of company stock worth $426,250. 29.20% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Engine Capital Management LLC acquired a new stake in shares of Kona Grill during the first quarter valued at $189,000. KCG Holdings Inc. acquired a new stake in shares of Kona Grill during the first quarter valued at $200,000. Renaissance Technologies LLC raised its stake in shares of Kona Grill by 2.7% in the first quarter. Renaissance Technologies LLC now owns 429,059 shares of the restaurant operator’s stock valued at $2,703,000 after buying an additional 11,100 shares during the period. Addison Clark Management L.L.C. raised its stake in shares of Kona Grill by 201.9% in the first quarter. Addison Clark Management L.L.C. now owns 215,840 shares of the restaurant operator’s stock valued at $1,360,000 after buying an additional 144,340 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kona Grill by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 323,830 shares of the restaurant operator’s stock valued at $2,040,000 after buying an additional 50,686 shares during the period. Institutional investors and hedge funds own 62.90% of the company’s stock.
Shares of Kona Grill (NASDAQ KONA) traded down 6.15% during mid-day trading on Friday, hitting $3.05. The stock had a trading volume of 125,634 shares. The stock has a 50-day moving average price of $3.90 and a 200 day moving average price of $6.99. Kona Grill has a 52 week low of $3.05 and a 52 week high of $14.44. The stock’s market cap is $30.80 million.
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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