Brokerages forecast that Noodles & Co (NASDAQ:NDLS) will report $115.57 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Noodles & Co’s earnings, with the highest sales estimate coming in at $118.24 million and the lowest estimate coming in at $113.58 million. Noodles & Co reported sales of $114.21 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 23rd.
According to Zacks, analysts expect that Noodles & Co will report full year sales of $457.87 million for the current fiscal year, with estimates ranging from $454.22 million to $463.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $465.72 million, with estimates ranging from $447.94 million to $481.73 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Noodles & Co.
Noodles & Co (NASDAQ:NDLS) last released its earnings results on Wednesday, July 18th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $114.16 million. Noodles & Co had a negative return on equity of 0.45% and a negative net margin of 4.03%. Noodles & Co’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share.
NDLS has been the topic of a number of research analyst reports. Citigroup lifted their target price on Noodles & Co from $11.50 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. ValuEngine raised Noodles & Co from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 18th. Zacks Investment Research raised Noodles & Co from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Sunday, July 15th. BidaskClub lowered Noodles & Co from a “strong-buy” rating to a “buy” rating in a report on Friday, July 20th. Finally, UBS Group lifted their target price on Noodles & Co from $4.00 to $10.00 and gave the stock a “$11.80” rating in a report on Thursday, July 19th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Noodles & Co has a consensus rating of “Buy” and a consensus target price of $12.33.
NASDAQ:NDLS traded down $0.78 during mid-day trading on Friday, reaching $12.32. 520,700 shares of the stock were exchanged, compared to its average volume of 305,575. The firm has a market cap of $546.38 million, a P/E ratio of -616.50, a PEG ratio of 32.40 and a beta of -0.58. Noodles & Co has a 1-year low of $3.95 and a 1-year high of $13.50. The company has a quick ratio of 0.29, a current ratio of 0.52 and a debt-to-equity ratio of 2.40.
In related news, major shareholder Mill Road Capital Ii, L.P. sold 387,463 shares of Noodles & Co stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $9.50, for a total value of $3,680,898.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Catterton-Noodles, Llc sold 2,477,842 shares of Noodles & Co stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $10.00, for a total value of $24,778,420.00. The disclosure for this sale can be found here. Insiders sold a total of 3,455,783 shares of company stock worth $34,473,431 in the last three months. 50.52% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NDLS. GSA Capital Partners LLP purchased a new position in Noodles & Co in the 2nd quarter worth about $175,000. Solstein Capital LLC purchased a new position in Noodles & Co in the 2nd quarter worth about $197,000. Macquarie Group Ltd. purchased a new position in Noodles & Co in the 2nd quarter worth about $200,000. Dimensional Fund Advisors LP purchased a new position in Noodles & Co in the 2nd quarter worth about $250,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Noodles & Co in the 2nd quarter worth about $300,000. 61.82% of the stock is currently owned by hedge funds and other institutional investors.
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.
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