Kura Sushi USA (NASDAQ:KRUS) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Kura Sushi USA (NASDAQ:KRUS) posted its earnings results on Tuesday. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.08, FiscalAI reports. Kura Sushi USA had a negative net margin of 0.63% and a negative return on equity of 0.12%. The business had revenue of $85.92 million for the quarter, compared to analyst estimates of $86.46 million.

Kura Sushi USA Stock Down 5.7%

Shares of NASDAQ KRUS traded down $3.21 during midday trading on Tuesday, reaching $52.90. The company had a trading volume of 610,446 shares, compared to its average volume of 347,023. Kura Sushi USA has a one year low of $42.62 and a one year high of $95.98. The firm’s fifty day moving average price is $52.58 and its 200-day moving average price is $60.34. The stock has a market cap of $642.74 million, a PE ratio of -330.62 and a beta of 1.33.

Institutional Investors Weigh In On Kura Sushi USA

Several institutional investors have recently added to or reduced their stakes in KRUS. Raymond James Financial Inc. purchased a new position in shares of Kura Sushi USA during the 2nd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Kura Sushi USA by 681.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 844 shares of the company’s stock valued at $50,000 after purchasing an additional 736 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Kura Sushi USA by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock valued at $79,000 after purchasing an additional 646 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Kura Sushi USA by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 953 shares of the company’s stock worth $82,000 after purchasing an additional 284 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in Kura Sushi USA in the second quarter worth $203,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KRUS. Lake Street Capital reiterated a “buy” rating on shares of Kura Sushi USA in a report on Wednesday, April 8th. DA Davidson decreased their price objective on Kura Sushi USA from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. TD Cowen reissued a “hold” rating and set a $58.00 price target on shares of Kura Sushi USA in a research note on Wednesday, June 3rd. Weiss Ratings lowered shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Kura Sushi USA from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Kura Sushi USA presently has an average rating of “Hold” and an average target price of $74.08.

About Kura Sushi USA

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.