Fogo de Chao, Inc. (NASDAQ:FOGO) – Equities researchers at Jefferies Group dropped their FY2017 earnings estimates for Fogo de Chao in a research note issued on Tuesday. Jefferies Group analyst A. Barish now expects that the restaurant operator will post earnings per share of $0.90 for the year, down from their prior forecast of $0.92. Jefferies Group also issued estimates for Fogo de Chao’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $0.99 EPS.

Several other research firms also recently weighed in on FOGO. Zacks Investment Research downgraded Fogo de Chao from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Canaccord Genuity reissued a “hold” rating and set a $16.00 price target (up previously from $14.00) on shares of Fogo de Chao in a research report on Saturday, April 22nd. BidaskClub downgraded Fogo de Chao from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $16.00 price target on shares of Fogo de Chao in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.36.

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Fogo de Chao (NASDAQ:FOGO) opened at 12.65 on Thursday. The firm has a market cap of $356.88 million, a price-to-earnings ratio of 15.62 and a beta of 0.36. Fogo de Chao has a 52 week low of $10.50 and a 52 week high of $17.05. The stock has a 50 day moving average price of $13.58 and a 200 day moving average price of $14.40.

Fogo de Chao (NASDAQ:FOGO) last released its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $77.80 million for the quarter, compared to analyst estimates of $77.46 million. Fogo de Chao had a return on equity of 8.14% and a net margin of 7.40%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS.

In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 675,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $14.00, for a total transaction of $9,450,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd M. Abbrecht sold 4,500,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $14.00, for a total value of $63,000,000.00. The disclosure for this sale can be found here. 82.80% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of FOGO. Mork Capital Management LLC boosted its stake in Fogo de Chao by 62.5% in the second quarter. Mork Capital Management LLC now owns 65,000 shares of the restaurant operator’s stock valued at $904,000 after buying an additional 25,000 shares during the period. River & Mercantile Asset Management LLP boosted its stake in Fogo de Chao by 45.1% in the second quarter. River & Mercantile Asset Management LLP now owns 293,281 shares of the restaurant operator’s stock valued at $4,069,000 after buying an additional 91,141 shares during the period. Marshall Wace LLP acquired a new stake in Fogo de Chao during the second quarter valued at about $199,000. Bank of New York Mellon Corp boosted its stake in Fogo de Chao by 36.8% in the second quarter. Bank of New York Mellon Corp now owns 69,780 shares of the restaurant operator’s stock valued at $971,000 after buying an additional 18,775 shares during the period. Finally, ClariVest Asset Management LLC acquired a new stake in Fogo de Chao during the second quarter valued at about $426,000. Institutional investors and hedge funds own 92.43% of the company’s stock.

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).

Earnings History and Estimates for Fogo de Chao (NASDAQ:FOGO)

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