Analysts forecast that Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) will post sales of $181.94 million for the current quarter, Zacks reports. Three analysts have issued estimates for Fiesta Restaurant Group’s earnings. The highest sales estimate is $188.54 million and the lowest is $178.23 million. Fiesta Restaurant Group posted sales of $181.53 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.2%. The business is expected to report its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Fiesta Restaurant Group will report full-year sales of $181.94 million for the current financial year, with estimates ranging from $678.30 million to $710.60 million. For the next financial year, analysts anticipate that the business will post sales of $720.69 million per share, with estimates ranging from $714.97 million to $726.95 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Fiesta Restaurant Group.
Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings results on Monday, May 8th. The restaurant operator reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $175.60 million for the quarter, compared to the consensus estimate of $177.63 million. Fiesta Restaurant Group had a negative net margin of 1.16% and a positive return on equity of 12.01%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS.
FRGI has been the topic of several analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $25.00 price target on shares of Fiesta Restaurant Group in a research report on Monday, May 15th. Zacks Investment Research raised shares of Fiesta Restaurant Group from a “sell” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research report on Tuesday, May 2nd. Canaccord Genuity reissued a “hold” rating and issued a $25.00 price objective on shares of Fiesta Restaurant Group in a research report on Tuesday, May 9th. BidaskClub lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Wedbush reissued a “buy” rating and issued a $28.00 price objective on shares of Fiesta Restaurant Group in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.17.
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In other news, Director Barry J. Alperin purchased 2,300 shares of the stock in a transaction on Thursday, June 8th. The stock was purchased at an average price of $21.17 per share, for a total transaction of $48,691.00. Following the acquisition, the director now owns 19,166 shares in the company, valued at $405,744.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian P. Friedman purchased 309,115 shares of the stock in a transaction on Friday, June 9th. The shares were purchased at an average price of $21.12 per share, with a total value of $6,528,508.80. Following the acquisition, the director now owns 36,270 shares in the company, valued at approximately $766,022.40. The disclosure for this purchase can be found here. Insiders have acquired 351,595 shares of company stock worth $7,451,569 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in Fiesta Restaurant Group by 80.0% in the second quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock valued at $110,000 after buying an additional 2,376 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Fiesta Restaurant Group during the second quarter valued at $558,000. UBS Oconnor LLC bought a new stake in Fiesta Restaurant Group during the first quarter valued at $3,514,000. Point72 Europe London LLP bought a new stake in Fiesta Restaurant Group during the first quarter valued at $5,830,000. Finally, Engine Capital Management LLC bought a new stake in Fiesta Restaurant Group during the first quarter valued at $617,000. Institutional investors own 94.02% of the company’s stock.
Shares of Fiesta Restaurant Group (NASDAQ FRGI) traded up 0.82% on Friday, reaching $18.40. 29,575 shares of the company traded hands. The stock has a 50 day moving average of $21.73 and a 200 day moving average of $24.58. Fiesta Restaurant Group has a 52-week low of $18.05 and a 52-week high of $30.65. The stock’s market cap is $492.88 million.
Fiesta Restaurant Group Company Profile
Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).
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