{"id":33105,"date":"2023-07-08T14:57:52","date_gmt":"2023-07-08T18:57:52","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/kura-sushi-stock-soars-toward-a-record-after-profit-surprisingly-increased-and-beat-expectations-by-a-wide-margin\/"},"modified":"2023-07-08T14:57:53","modified_gmt":"2023-07-08T18:57:53","slug":"kura-sushi-stock-soars-toward-a-record-after-profit-surprisingly-increased-and-beat-expectations-by-a-wide-margin","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=33105","title":{"rendered":"Kura Sushi stock soars toward a record, after profit surprisingly increased and beat expectations by a wide margin"},"content":{"rendered":"
\n

Shares of Kura Sushi USA Inc.
\n KRUS,
\n +17.38%<\/bg-quote>
\n shot up 17.4% toward a record high in afternoon trading Friday, after the Japanese restaurant chain reported a fiscal third-quarter profit that more than tripled and beat expectations by a wide margin. The California-based company, which went public in August 2019, reported late Thursday net income for the quarter to May 31 that rose to $1.68 million, or 16 cents a share, from $477 million, or 5 cents a share, in the year ago period. The FactSet consensus was for earnings per share to decline to 4 cents. Sales rose 29.7% to $49.2 million, just below the FactSet consensus of $49.6 million, while same-store sales growth of 10.3% beat expectations of a 7.9% rise. No less than 5 of the seven analysts surveyed by FactSet who cover Kura Sushi raised their stock price targets after the results, with the average target rising to $97.83 from $82.00 at the end of June. The stock has more than doubled year to date, up 110.0%, while the S&P 500
\n SPX,
\n -0.29%<\/bg-quote>
\n has advanced 15.3%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Kura Sushi USA Inc. KRUS, +17.38% shot up 17.4% toward a record high in afternoon trading Friday, after the Japanese restaurant chain reported a fiscal third-quarter profit that more than tripled and beat expectations by a wide margin. The California-based company, which went public in August 2019, reported late Thursday net income for […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-33105","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nKura Sushi stock soars toward a record, after profit surprisingly increased and beat expectations by a wide margin | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Kura Sushi USA Inc. 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