Noble Financial Estimates FAT Brands FY2024 Earnings

FAT Brands Inc. (NASDAQ:FAT) – Analysts at Noble Financial issued their FY2024 earnings per share (EPS) estimates for FAT Brands in a research note issued to investors on Thursday, October 31st. Noble Financial analyst J. Gomes expects that the company will post earnings of ($10.23) per share for the year. Noble Financial also issued estimates for FAT Brands’ Q4 2024 earnings at ($2.68) EPS and FY2025 earnings at ($6.79) EPS.

FAT Brands (NASDAQ:FAT) last announced its earnings results on Wednesday, October 30th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.88) by ($0.86). The company had revenue of $143.37 million during the quarter, compared to the consensus estimate of $159.85 million. During the same quarter last year, the firm posted ($1.59) earnings per share.

FAT Brands Stock Performance

FAT Brands stock opened at $5.32 on Monday. The stock has a market cap of $83.74 million, a PE ratio of -0.58 and a beta of 1.80. FAT Brands has a fifty-two week low of $4.51 and a fifty-two week high of $9.48. The firm’s 50-day simple moving average is $4.98 and its 200 day simple moving average is $5.42.

FAT Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a yield of 10.53%. FAT Brands’s dividend payout ratio (DPR) is presently -6.07%.

Insider Buying and Selling

In related news, Director Mark Elenowitz purchased 6,200 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average price of $11.00 per share, with a total value of $68,200.00. Following the acquisition, the director now owns 9,200 shares of the company’s stock, valued at $101,200. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 8,544 shares of company stock worth $86,198. Insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in FAT Brands stock. Legacy Financial Advisors Inc. acquired a new position in shares of FAT Brands Inc. (NASDAQ:FAT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $103,000. Legacy Financial Advisors Inc. owned approximately 0.13% of FAT Brands as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 6.90% of the company’s stock.

About FAT Brands

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.