SunTrust Banks Equities Analysts Cut Earnings Estimates for Bojangles Inc (BOJA)

Bojangles Inc (NASDAQ:BOJA) – SunTrust Banks reduced their FY2018 earnings per share (EPS) estimates for Bojangles in a note issued to investors on Sunday, October 21st. SunTrust Banks analyst J. Bartlett now forecasts that the restaurant operator will post earnings per share of $0.69 for the year, down from their prior forecast of $0.71. SunTrust Banks also issued estimates for Bojangles’ Q4 2018 earnings at $0.22 EPS.

BOJA has been the topic of several other reports. ValuEngine upgraded shares of Bojangles from a “hold” rating to a “buy” rating in a research report on Friday, September 28th. TheStreet downgraded shares of Bojangles from a “b-” rating to a “c+” rating in a research report on Monday, July 30th. Zacks Investment Research cut shares of Bojangles from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. BidaskClub raised shares of Bojangles from a “sell” rating to a “hold” rating in a research note on Saturday, August 25th. Finally, KeyCorp started coverage on shares of Bojangles in a research note on Wednesday, October 3rd. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Bojangles currently has an average rating of “Hold” and an average target price of $14.67.

Shares of NASDAQ:BOJA opened at $15.66 on Tuesday. The stock has a market capitalization of $590.41 million, a P/E ratio of 18.87, a PEG ratio of 1.87 and a beta of 1.41. Bojangles has a fifty-two week low of $11.35 and a fifty-two week high of $17.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.64 and a current ratio of 0.70.

Bojangles (NASDAQ:BOJA) last issued its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.05). The firm had revenue of $140.50 million during the quarter, compared to the consensus estimate of $140.34 million. Bojangles had a net margin of 11.24% and a return on equity of 9.91%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share.

Institutional investors have recently added to or reduced their stakes in the business. IndexIQ Advisors LLC increased its stake in Bojangles by 8.7% during the 2nd quarter. IndexIQ Advisors LLC now owns 157,933 shares of the restaurant operator’s stock valued at $2,274,000 after buying an additional 12,639 shares during the period. Rhumbline Advisers increased its stake in Bojangles by 27.4% during the 2nd quarter. Rhumbline Advisers now owns 17,111 shares of the restaurant operator’s stock valued at $246,000 after buying an additional 3,675 shares during the period. Cortina Asset Management LLC acquired a new position in Bojangles during the 2nd quarter valued at about $4,204,000. Citadel Advisors LLC increased its stake in Bojangles by 399.7% during the 2nd quarter. Citadel Advisors LLC now owns 199,284 shares of the restaurant operator’s stock valued at $2,870,000 after buying an additional 159,406 shares during the period. Finally, Millennium Management LLC increased its stake in Bojangles by 30.1% during the 2nd quarter. Millennium Management LLC now owns 382,266 shares of the restaurant operator’s stock valued at $5,505,000 after buying an additional 88,343 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

About Bojangles

Bojangles', Inc develops, operates, and franchises limited service restaurants in the United States. Its restaurants offer made-from-scratch biscuit breakfast sandwiches, hand-breaded bone-in chicken, fixin's, and iced tea. As of July 1, 2018, the company operated 766 system-wide restaurants, including 325 company-operated and 441 franchised restaurants primarily located in the Southeastern United States.

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Earnings History and Estimates for Bojangles (NASDAQ:BOJA)

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