Equities analysts forecast that Noodles & Co (NASDAQ:NDLS) will post $115.19 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Noodles & Co’s earnings, with estimates ranging from $113.58 million to $117.10 million. Noodles & Co posted sales of $114.21 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The business is scheduled to issue its next earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Noodles & Co will report full-year sales of $454.55 million for the current year, with estimates ranging from $446.84 million to $460.85 million. For the next year, analysts forecast that the company will report sales of $462.35 million per share, with estimates ranging from $447.94 million to $477.14 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Noodles & Co.
Noodles & Co (NASDAQ:NDLS) last issued its quarterly earnings results on Wednesday, July 18th. The restaurant operator reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $114.16 million. Noodles & Co had a negative net margin of 4.03% and a negative return on equity of 0.45%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share.
Several brokerages recently commented on NDLS. Citigroup upped their price target on shares of Noodles & Co from $9.00 to $13.50 and gave the company a “buy” rating in a report on Thursday, June 21st. ValuEngine downgraded shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 7th. BidaskClub upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating in a report on Friday, June 15th. BMO Capital Markets upped their price target on shares of Noodles & Co from $6.00 to $10.00 and gave the company a “market perform” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, UBS Group upped their price target on shares of Noodles & Co from $4.00 to $10.00 and gave the company a “$11.80” rating in a report on Thursday, July 19th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Noodles & Co has an average rating of “Hold” and an average price target of $10.08.
Noodles & Co traded up $0.20, hitting $10.60, during mid-day trading on Friday, Marketbeat reports. 1,561,183 shares of the stock traded hands, compared to its average volume of 821,225. The company has a market capitalization of $429.50 million, a price-to-earnings ratio of -530.00, a PEG ratio of 33.96 and a beta of -0.73. Noodles & Co has a 52 week low of $3.50 and a 52 week high of $13.30. The company has a current ratio of 0.52, a quick ratio of 0.29 and a debt-to-equity ratio of 2.40.
In other Noodles & Co news, major shareholder Mill Road Capital Ii, L.P. sold 387,463 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $9.50, for a total value of $3,680,898.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Catterton-Noodles, Llc sold 2,477,842 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $10.00, for a total transaction of $24,778,420.00. The disclosure for this sale can be found here. Insiders sold a total of 3,399,346 shares of company stock worth $33,796,579 over the last 90 days. Insiders own 50.52% of the company’s stock.
A number of hedge funds have recently modified their holdings of NDLS. BlackRock Inc. grew its stake in Noodles & Co by 3.2% in the 4th quarter. BlackRock Inc. now owns 840,837 shares of the restaurant operator’s stock worth $4,415,000 after acquiring an additional 26,022 shares in the last quarter. Deutsche Bank AG grew its stake in Noodles & Co by 113.2% in the 4th quarter. Deutsche Bank AG now owns 25,646 shares of the restaurant operator’s stock worth $134,000 after acquiring an additional 13,618 shares in the last quarter. Two Sigma Investments LP bought a new position in Noodles & Co in the 4th quarter worth about $147,000. Millennium Management LLC grew its stake in Noodles & Co by 414.2% in the 4th quarter. Millennium Management LLC now owns 58,906 shares of the restaurant operator’s stock worth $309,000 after acquiring an additional 47,451 shares in the last quarter. Finally, Timpani Capital Management LLC bought a new position in Noodles & Co in the 1st quarter worth about $1,362,000. Institutional investors and hedge funds own 51.82% of the company’s stock.
About Noodles & Co
Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.
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