Revenue Update on Fogo De Chao Inc(NASDAQ:FOGO)

Fogo De Chao Inc(NASDAQ:FOGO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $69.55M. Analysts estimated a revenue of $73.31M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.25.

In a different note, On May 17, 2016, JP Morgan said it Downgrades its rating on Fogo De Chao Inc. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm.

Fogo De Chao Inc (FOGO) shares turned negative on Wednesdays trading session with the shares closing down -0.11 points or -0.86% at a volume of 28,342. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.94. The peak price level was also seen at $12.94 while the days lowest was $12.55. Finally the shares closed at $12.67. The 52-week high of the shares is $20.46 while the 52-week low is $12. According to the latest information available, the market cap of the company is $356 M.

Several Insider Transactions has been reported to the SEC. On Jun 24, 2015, Eulila Selma Oliveira (COO) purchased 2,640 shares at $20.00 per share price.Also, On Jun 24, 2015, Neil Moses (director) purchased 5,300 shares at $20.00 per share price.On Jun 24, 2015, George Barry Mcgowan (President) purchased 10,956 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Fogo de Chao Inc. is a United States-based holding company. The Company through its subsidiaries operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc. (Brasa Purchaser) which owns 100% of Brasa (Holdings) Inc. (Brasa Holdings). The Company operates through two segments: United States and Brazil. It specializes in fire-roasting meats utilizing the centuries-old Southern Brazilian cooking technique of churrasco. The Company offers its guests a tasting menu of meats featuring up to 20 cuts simply seasoned and fire-roasted to expose their natural flavors. The Company operates approximately 26 restaurants in the United States 10 in Brazil and one in Mexico. The Company operates a range of restaurant formats including in-line and free-standing locations. Its restaurants range in size from approximately 7000 to 16000 square feet with seating from 200 to 500 guests.

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