Noodles & Company (NDLS) Expected to Post Quarterly Sales of $114.89 Million
Brokerages forecast that Noodles & Company (NASDAQ:NDLS) will report $114.89 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Noodles &’s earnings, with the highest sales estimate coming in at $115.78 million and the lowest estimate coming in at $113.58 million. Noodles & reported sales of $122.68 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Noodles & will report full year sales of $114.89 million for the current fiscal year, with estimates ranging from $455.29 million to $461.98 million. For the next fiscal year, analysts anticipate that the company will post sales of $465.68 million per share, with estimates ranging from $462.16 million to $470.48 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Noodles &.
Noodles & (NASDAQ:NDLS) last announced its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). Noodles & had a negative return on equity of 10.25% and a negative net margin of 17.42%. The business had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $113.98 million. During the same quarter last year, the company posted ($0.03) EPS. Noodles &’s revenue for the quarter was down 7.1% compared to the same quarter last year.
Several research firms recently commented on NDLS. Jefferies Group LLC reiterated a “hold” rating and set a $4.50 price objective (down previously from $5.50) on shares of Noodles & in a research note on Friday, August 11th. Zacks Investment Research lowered shares of Noodles & from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Wedbush reiterated a “hold” rating on shares of Noodles & in a research note on Friday, August 11th. BMO Capital Markets reiterated a “hold” rating and set a $5.00 price objective on shares of Noodles & in a research note on Thursday, June 22nd. Finally, Piper Jaffray Companies reiterated a “sell” rating and set a $4.00 price objective on shares of Noodles & in a research note on Friday, August 11th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $4.72.
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A number of large investors have recently added to or reduced their stakes in the business. Catterton Management Company L.L.C. grew its position in Noodles & by 62.5% during the 2nd quarter. Catterton Management Company L.L.C. now owns 11,106,987 shares of the restaurant operator’s stock worth $43,317,000 after purchasing an additional 4,272,103 shares during the last quarter. State Street Corp grew its position in Noodles & by 4.6% during the 2nd quarter. State Street Corp now owns 178,219 shares of the restaurant operator’s stock worth $698,000 after purchasing an additional 7,823 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Noodles & by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 434,577 shares of the restaurant operator’s stock valued at $1,694,000 after acquiring an additional 28,054 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Noodles & by 0.3% in the 2nd quarter. Northern Trust Corp now owns 152,641 shares of the restaurant operator’s stock valued at $596,000 after acquiring an additional 491 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in shares of Noodles & in the 2nd quarter valued at $146,000. 65.65% of the stock is currently owned by institutional investors.
Noodles & (NASDAQ:NDLS) traded up 1.19% during midday trading on Friday, hitting $4.25. 33,072 shares of the stock were exchanged. The firm’s 50 day moving average price is $4.06 and its 200 day moving average price is $4.49. The company’s market cap is $174.72 million. Noodles & has a 12 month low of $3.16 and a 12 month high of $6.00.
About Noodles &
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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