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FAT Brands (FAT) Soars 9.1%: Is Further Upside Left in the Stock?
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FAT Brands Inc. (FAT - Free Report) shares rallied 9.1% in the last trading session to close at $5.29. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.3% loss over the past four weeks.
FAT Brands' rally is buoyed by optimism regarding the company’s focus on unit expansion and acquiring new brands and restaurants. Positive investor sentiments were witnessed on the company's recent announcement of a 14 cents per share cash dividend for the third quarter of fiscal 2024. This dividend applies to both Class A and Class B common stock, payable on Aug 30 to shareholders of record as of Aug 15.
This company is expected to post quarterly loss of $2 per share in its upcoming report, which represents a year-over-year change of -277.4%. Revenues are expected to be $156.35 million, up 46.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FAT Brands, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FAT going forward to see if this recent jump can turn into more strength down the road.
FAT Brands belongs to the Zacks Retail - Restaurants industry. Another stock from the same industry, Papa John's (PZZA - Free Report) , closed the last trading session 0.4% higher at $43.19. Over the past month, PZZA has returned -10.1%.
Papa John's' consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $0.52. Compared to the company's year-ago EPS, this represents a change of -11.9%. Papa John's currently boasts a Zacks Rank of #5 (Strong Sell).
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FAT Brands (FAT) Soars 9.1%: Is Further Upside Left in the Stock?
FAT Brands Inc. (FAT - Free Report) shares rallied 9.1% in the last trading session to close at $5.29. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.3% loss over the past four weeks.
FAT Brands' rally is buoyed by optimism regarding the company’s focus on unit expansion and acquiring new brands and restaurants. Positive investor sentiments were witnessed on the company's recent announcement of a 14 cents per share cash dividend for the third quarter of fiscal 2024. This dividend applies to both Class A and Class B common stock, payable on Aug 30 to shareholders of record as of Aug 15.
This company is expected to post quarterly loss of $2 per share in its upcoming report, which represents a year-over-year change of -277.4%. Revenues are expected to be $156.35 million, up 46.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FAT Brands, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FAT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
FAT Brands belongs to the Zacks Retail - Restaurants industry. Another stock from the same industry, Papa John's (PZZA - Free Report) , closed the last trading session 0.4% higher at $43.19. Over the past month, PZZA has returned -10.1%.
Papa John's' consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $0.52. Compared to the company's year-ago EPS, this represents a change of -11.9%. Papa John's currently boasts a Zacks Rank of #5 (Strong Sell).