Fogo de Chao, Inc. (NASDAQ:FOGO) Releases FY17 Earnings Guidance
Fogo de Chao, Inc. (NASDAQ:FOGO) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.92-0.95 for the period, compared to the Thomson Reuters consensus estimate of $0.93.
Fogo de Chao, Inc. (NASDAQ:FOGO) remained flat at $13.70 during mid-day trading on Tuesday. 117,081 shares of the company’s stock traded hands. The firm has a 50-day moving average of $13.67 and a 200-day moving average of $14.44. Fogo de Chao, Inc. has a 12-month low of $10.50 and a 12-month high of $17.05. The company has a market capitalization of $386.50 million, a P/E ratio of 16.91 and a beta of 0.36.
Fogo de Chao (NASDAQ:FOGO) last announced its earnings results on Monday, May 8th. The restaurant operator reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. The firm had revenue of $76.40 million during the quarter, compared to analyst estimates of $75.06 million. Fogo de Chao had a net margin of 7.92% and a return on equity of 8.32%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. Equities research analysts expect that Fogo de Chao, Inc. will post $0.93 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on FOGO. BidaskClub lowered shares of Fogo de Chao from a sell rating to a strong sell rating in a research note on Wednesday, July 12th. Canaccord Genuity reissued a hold rating and set a $16.00 price target (up from $14.00) on shares of Fogo de Chao in a research report on Saturday, April 22nd. Finally, Zacks Investment Research raised shares of Fogo de Chao from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $16.36.
In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 675,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $14.00, for a total value of $9,450,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Todd M. Abbrecht sold 4,500,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $14.00, for a total transaction of $63,000,000.00. The disclosure for this sale can be found here. 82.80% of the stock is currently owned by corporate insiders.
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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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