Kona Grill Inc. (NASDAQ:KONA) – KeyCorp dropped their Q3 2016 earnings per share (EPS) estimates for Kona Grill in a note issued to investors on Wednesday. KeyCorp analyst C. O’cull now forecasts that the firm will post earnings per share of ($0.16) for the quarter, down from their previous forecast of ($0.13). KeyCorp also issued estimates for Kona Grill’s Q4 2016 earnings at ($0.13) EPS, FY2016 earnings at ($0.52) EPS and FY2017 earnings at $0.00 EPS.
Several other research analysts have also commented on the company. Roth Capital started coverage on Kona Grill in a research report on Thursday, July 7th. They issued a “buy” rating and a $15.00 price target for the company. Wedbush dropped their price target on Kona Grill from $21.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Zacks Investment Research lowered Kona Grill from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Feltl & Co. upgraded Kona Grill from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. dropped their price target on Kona Grill from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $17.40.
Shares of Kona Grill (NASDAQ:KONA) opened at 12.31 on Monday. Kona Grill has a 1-year low of $9.90 and a 1-year high of $18.36. The company has a 50 day moving average price of $13.31 and a 200 day moving average price of $12.51. The stock’s market cap is $129.01 million.
Kona Grill (NASDAQ:KONA) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.03. The company earned $43.30 million during the quarter, compared to analysts’ expectations of $45.41 million. Kona Grill had a negative return on equity of 9.54% and a negative net margin of 3.81%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 EPS.
A number of hedge funds have recently made changes to their positions in KONA. Royal Bank of Canada increased its stake in Kona Grill by 0.5% in the second quarter. Royal Bank of Canada now owns 1,113,222 shares of the company’s stock valued at $11,934,000 after buying an additional 5,964 shares in the last quarter. Wellington Management Group LLP increased its stake in Kona Grill by 39.5% in the first quarter. Wellington Management Group LLP now owns 997,602 shares of the company’s stock valued at $12,919,000 after buying an additional 282,435 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Kona Grill by 13.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 410,040 shares of the company’s stock valued at $4,396,000 after buying an additional 50,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Kona Grill by 5.6% in the second quarter. Vanguard Group Inc. now owns 318,414 shares of the company’s stock valued at $3,413,000 after buying an additional 16,822 shares in the last quarter. Finally, Penn Capital Management Co. Inc. bought a new stake in Kona Grill during the second quarter valued at $3,081,000. 80.89% of the stock is owned by institutional investors and hedge funds.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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