Fogo de Chao, Inc. (FOGO) Posts Earnings Results, Hits Estimates
Fogo de Chao, Inc. (NASDAQ:FOGO) posted its quarterly earnings results on Tuesday. The restaurant operator reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10, Bloomberg Earnings reports. The firm had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $71.40 million. Fogo de Chao had a net margin of 7.40% and a return on equity of 8.08%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. Fogo de Chao updated its FY17 guidance to $0.77-0.80 EPS.
Shares of Fogo de Chao (NASDAQ:FOGO) opened at $11.15 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.53 and a debt-to-equity ratio of 0.47. Fogo de Chao has a 12 month low of $10.70 and a 12 month high of $17.05. The firm has a market cap of $310.59, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.96 and a beta of 0.32.
Several analysts recently issued reports on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $16.00 price target on shares of Fogo de Chao in a report on Thursday, August 10th. ValuEngine raised shares of Fogo de Chao from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub raised shares of Fogo de Chao from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Credit Suisse Group cut their price target on shares of Fogo de Chao from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, October 23rd. Finally, TheStreet cut shares of Fogo de Chao from a “c-” rating to a “d+” rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Fogo de Chao presently has a consensus rating of “Hold” and an average price target of $15.08.
A hedge fund recently raised its stake in Fogo de Chao stock. California State Teachers Retirement System raised its holdings in shares of Fogo de Chao, Inc. (NASDAQ:FOGO) by 65.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,647 shares of the restaurant operator’s stock after purchasing an additional 6,600 shares during the period. California State Teachers Retirement System owned about 0.06% of Fogo de Chao worth $231,000 as of its most recent SEC filing. 85.69% of the stock is owned by institutional investors.
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About Fogo de Chao
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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