Noodles & Co (NDLS) Announces Earnings Results, Misses Expectations By $0.01 EPS

Noodles & Co (NASDAQ:NDLS) issued its quarterly earnings results on Thursday. The restaurant operator reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01), Briefing.com reports. Noodles & Co had a positive return on equity of 2.23% and a negative net margin of 1.96%. The business had revenue of $113.20 million for the quarter, compared to analyst estimates of $113.76 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Noodles & Co updated its FY 2019 guidance to $0.06-0.15 EPS and its FY19 guidance to $0.06-$0.15 EPS.

Shares of NDLS traded down $1.05 during mid-day trading on Friday, hitting $6.33. The company had a trading volume of 1,194,930 shares, compared to its average volume of 397,477. The stock has a market capitalization of $318.00 million, a PE ratio of -316.63, a P/E/G ratio of 5.64 and a beta of 0.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.36 and a current ratio of 0.68. Noodles & Co has a 1-year low of $6.25 and a 1-year high of $13.50.

Several analysts have recently commented on NDLS shares. Royal Bank of Canada upgraded shares of Noodles & Co from a “sector perform” rating to an “outperform” rating and set a $8.50 target price for the company in a research note on Monday, December 3rd. They noted that the move was a valuation call. Jefferies Financial Group upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday, February 22nd. BidaskClub downgraded shares of Noodles & Co from a “hold” rating to a “sell” rating in a report on Tuesday, December 11th. Zacks Investment Research upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating and set a $8.25 price target for the company in a report on Wednesday, January 9th. Finally, ValuEngine downgraded shares of Noodles & Co from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $10.75.

A number of hedge funds have recently made changes to their positions in NDLS. Russell Investments Group Ltd. increased its stake in shares of Noodles & Co by 89.2% in the third quarter. Russell Investments Group Ltd. now owns 594,343 shares of the restaurant operator’s stock worth $7,193,000 after buying an additional 280,164 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in Noodles & Co by 60.6% in the 3rd quarter. Engineers Gate Manager LP now owns 45,644 shares of the restaurant operator’s stock valued at $552,000 after acquiring an additional 17,219 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Noodles & Co by 43.7% in the 3rd quarter. Wells Fargo & Company MN now owns 310,694 shares of the restaurant operator’s stock valued at $3,759,000 after acquiring an additional 94,499 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Noodles & Co by 858.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 255,426 shares of the restaurant operator’s stock valued at $3,090,000 after acquiring an additional 228,781 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Noodles & Co by 26.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 53,030 shares of the restaurant operator’s stock valued at $642,000 after acquiring an additional 11,116 shares during the last quarter. 68.46% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was reported by WKRB News and is the sole property of of WKRB News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.wkrb13.com/2019/03/15/noodles-co-ndls-announces-earnings-results-misses-expectations-by-0-01-eps.html.

Noodles & Co Company Profile

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.

Recommended Story: Price to Earnings Ratio (PE) Basics

Earnings History for Noodles & Co (NASDAQ:NDLS)

Receive News & Ratings for Noodles & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noodles & Co and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply