Wall Street brokerages forecast that Zoe’s Kitchen Inc (NYSE:ZOES) will post $83.38 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Zoe’s Kitchen’s earnings, with estimates ranging from $82.80 million to $83.94 million. Zoe’s Kitchen posted sales of $74.31 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.2%. The company is scheduled to report its next earnings results after the market closes on Thursday, August 16th.
According to Zacks, analysts expect that Zoe’s Kitchen will report full year sales of $349.27 million for the current year, with estimates ranging from $347.80 million to $350.50 million. For the next year, analysts expect that the firm will report sales of $357.68 million per share, with estimates ranging from $354.30 million to $361.05 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Zoe’s Kitchen.
Zoe’s Kitchen (NYSE:ZOES) last released its quarterly earnings data on Thursday, May 24th. The restaurant operator reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.11). The business had revenue of $102.10 million for the quarter, compared to analyst estimates of $104.75 million. Zoe’s Kitchen had a negative return on equity of 3.61% and a negative net margin of 1.73%. Zoe’s Kitchen’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS.
ZOES has been the topic of several research reports. William Blair upgraded shares of Zoe’s Kitchen from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 1st. ValuEngine lowered shares of Zoe’s Kitchen from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Maxim Group lowered shares of Zoe’s Kitchen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $12.00 in a research note on Friday, May 25th. Telsey Advisory Group dropped their price objective on shares of Zoe’s Kitchen from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 12th. Finally, Piper Jaffray Companies lowered shares of Zoe’s Kitchen from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $7.00 in a research note on Friday, May 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $12.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC bought a new position in Zoe’s Kitchen in the 4th quarter worth about $154,000. Tower Research Capital LLC TRC grew its position in Zoe’s Kitchen by 192.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,562 shares of the restaurant operator’s stock worth $181,000 after purchasing an additional 12,219 shares during the last quarter. Jane Street Group LLC bought a new position in Zoe’s Kitchen in the 2nd quarter worth about $191,000. Wrapmanager Inc. bought a new position in Zoe’s Kitchen in the 2nd quarter worth about $195,000. Finally, OLD National Bancorp IN bought a new position in Zoe’s Kitchen in the 2nd quarter worth about $207,000. Hedge funds and other institutional investors own 81.06% of the company’s stock.
ZOES opened at $12.74 on Friday. The stock has a market cap of $171.33 million, a P/E ratio of -127.40 and a beta of 0.15. Zoe’s Kitchen has a fifty-two week low of $8.22 and a fifty-two week high of $17.65. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 0.13.
Zoe’s Kitchen Company Profile
Zoe's Kitchen, Inc, through its subsidiaries, develops and operates a chain of fast-casual restaurants. It operates a range of restaurant formats, including in-line, end-cap, and free-standing restaurants. As of February 22, 2018, the company operated owned and franchised 249 restaurants in 20 states of the United States.
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