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.
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.
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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