Valuing Fogo de Chao Suddenly Becomes Foggy Proposition

Fogo de Chao (FOGO) , one of the few restaurant names I find somewhat intriguing these days, had been on a very nice roll since October. Indeed, FOGO shares were up 50% from October to late April before getting a 20% haircut last week.

It wasn't because of operating performance that the shares tumbled, as Fogo de Chao reported first-quarter results last Monday that were responsible for just a very small portion (-1.5%) of last week's damage. FOGO 's earnings were in line with consensus estimates (18 cents a share) and it beat expectations on revenue ($76.4 million versus $75.3 million), while same-store sales were just modestly positive (up 0.3%). The market all but shrugged....289 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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