Bojangles’, Inc. (BOJA) Forecasted to Earn FY2017 Earnings of $0.79 Per Share
Bojangles’, Inc. (NASDAQ:BOJA) – Analysts at SunTrust Banks decreased their FY2017 earnings per share estimates for shares of Bojangles’ in a research report issued on Wednesday. SunTrust Banks analyst J. Bartlett now anticipates that the restaurant operator will post earnings per share of $0.79 for the year, down from their previous forecast of $0.84. SunTrust Banks has a “Buy” rating and a $17.00 price target on the stock. SunTrust Banks also issued estimates for Bojangles”s Q4 2017 earnings at $0.19 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.21 EPS and FY2018 earnings at $0.81 EPS.
BOJA has been the topic of several other research reports. BidaskClub downgraded Bojangles’ from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Stephens downgraded Bojangles’ from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Barclays PLC cut their price target on Bojangles’ from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price target (down previously from $20.00) on shares of Bojangles’ in a report on Sunday, July 30th. Finally, Zacks Investment Research cut Bojangles’ from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Bojangles’ presently has a consensus rating of “Hold” and an average price target of $17.38.
Shares of Bojangles’ (BOJA) opened at $12.85 on Monday. The firm has a market capitalization of $470.78, a PE ratio of 14.43, a P/E/G ratio of 1.45 and a beta of 1.91. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 0.66.
Bojangles’ (NASDAQ:BOJA) last announced its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $133.40 million for the quarter, compared to the consensus estimate of $133.88 million. Bojangles’ had a return on equity of 15.11% and a net margin of 6.13%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS.
Several hedge funds have recently modified their holdings of the company. FMR LLC increased its position in shares of Bojangles’ by 15.0% during the 2nd quarter. FMR LLC now owns 3,109,039 shares of the restaurant operator’s stock valued at $50,522,000 after purchasing an additional 406,647 shares during the period. Vanguard Group Inc. increased its position in shares of Bojangles’ by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,362,803 shares of the restaurant operator’s stock valued at $22,145,000 after purchasing an additional 118,281 shares during the period. Tributary Capital Management LLC increased its position in shares of Bojangles’ by 11.7% during the 2nd quarter. Tributary Capital Management LLC now owns 873,850 shares of the restaurant operator’s stock valued at $14,200,000 after purchasing an additional 91,818 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Bojangles’ by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 316,704 shares of the restaurant operator’s stock valued at $5,147,000 after purchasing an additional 58,071 shares during the period. Finally, State Street Corp increased its position in shares of Bojangles’ by 52.0% during the 2nd quarter. State Street Corp now owns 235,337 shares of the restaurant operator’s stock valued at $3,828,000 after purchasing an additional 80,483 shares during the period. Institutional investors own 90.81% of the company’s stock.
Bojangles’ declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 1st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
Bojangles’ Company Profile
Bojangles’, Inc is a restaurant operator and franchisor. The Company offers food made from its Southern recipes. The Company’s menu includes its made-from-scratch, buttermilk biscuits baked fresh every 20 minutes; its fresh, never-frozen bone-in fried chicken; its fixin’s; its Bo-Smart menu featuring items, such as salads, grilled chicken sandwiches, roasted chicken bites and fat-free green beans; its freshly baked and delicious sweets menu, and its Legendary Iced Tea.
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