Analysts Anticipate Noodles & Co (NDLS) Will Post Quarterly Sales of $115.57 Million

Equities research analysts expect that Noodles & Co (NASDAQ:NDLS) will announce sales of $115.57 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Noodles & Co’s earnings, with the lowest sales estimate coming in at $113.58 million and the highest estimate coming in at $118.24 million. Noodles & Co reported sales of $114.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The business is expected to report 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 financial year, with estimates ranging from $454.22 million to $463.10 million. For the next financial year, analysts forecast that the business will report 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 research analysts that follow Noodles & Co.

Noodles & Co (NASDAQ:NDLS) last released its quarterly earnings data on Wednesday, July 18th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $117.40 million during the quarter, compared to the consensus estimate of $114.16 million. Noodles & Co had a negative net margin of 4.03% and a negative return on equity of 0.45%. Noodles & Co’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS.

Several research firms have issued reports on NDLS. ValuEngine upgraded Noodles & Co from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Noodles & Co from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday. Citigroup upped their price objective on Noodles & Co from $11.50 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. UBS Group upped their price objective on Noodles & Co from $4.00 to $10.00 and gave the company a “$11.80” rating in a research note on Thursday, July 19th. Finally, BidaskClub upgraded Noodles & Co from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.33.

NASDAQ:NDLS traded down $0.78 on Friday, hitting $12.32. The company’s stock had a trading volume of 520,700 shares, compared to its average volume of 305,575. The company has a quick ratio of 0.29, a current ratio of 0.52 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $546.38 million, a price-to-earnings ratio of -616.50, a P/E/G ratio of 32.40 and a beta of -0.58. Noodles & Co has a one year low of $3.95 and a one year high of $13.50.

In other news, major shareholder Catterton-Noodles, Llc sold 2,477,842 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $10.00, for a total transaction of $24,778,420.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Mill Road Capital Ii, L.P. sold 387,463 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $9.50, for a total value of $3,680,898.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,455,783 shares of company stock worth $34,473,431. 50.52% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Intrinsic Edge Capital Management LLC bought a new position in shares of Noodles & Co during the second quarter worth approximately $2,460,000. Dynamic Technology Lab Private Ltd acquired a new stake in Noodles & Co during the second quarter worth approximately $300,000. Tenzing Global Management LLC grew its position in Noodles & Co by 78.3% during the second quarter. Tenzing Global Management LLC now owns 835,000 shares of the restaurant operator’s stock worth $10,271,000 after buying an additional 366,588 shares in the last quarter. EAM Investors LLC grew its position in Noodles & Co by 99.7% during the second quarter. EAM Investors LLC now owns 184,690 shares of the restaurant operator’s stock worth $2,272,000 after buying an additional 92,224 shares in the last quarter. Finally, Eidelman Virant Capital grew its position in Noodles & Co by 9.7% during the third quarter. Eidelman Virant Capital now owns 784,696 shares of the restaurant operator’s stock worth $9,494,000 after buying an additional 69,405 shares in the last quarter. Institutional investors own 61.82% of the company’s stock.

About Noodles & Co

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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