First Watch Restaurant Group (NASDAQ:FWRG) Posts Earnings Results, Misses Estimates By $0.05 EPS

First Watch Restaurant Group (NASDAQ:FWRG) released its earnings results on Tuesday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05), Zacks reports. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $282.24 million during the quarter, compared to the consensus estimate of $282.98 million. During the same quarter in the previous year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. First Watch Restaurant Group updated its FY 2025 guidance to EPS.

First Watch Restaurant Group Trading Down 24.4 %

Shares of NASDAQ:FWRG traded down $4.54 during mid-day trading on Tuesday, reaching $14.07. The stock had a trading volume of 2,478,307 shares, compared to its average volume of 704,410. The firm has a market cap of $857.83 million, a PE ratio of 42.75, a price-to-earnings-growth ratio of 3.38 and a beta of 1.01. The firm has a 50 day simple moving average of $17.98 and a two-hundred day simple moving average of $18.79. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group has a twelve month low of $12.90 and a twelve month high of $25.63.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Stephens restated an “overweight” rating and set a $24.00 price target on shares of First Watch Restaurant Group in a research note on Thursday, April 24th. TD Cowen upgraded First Watch Restaurant Group from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, April 1st. TD Securities upgraded First Watch Restaurant Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, April 1st. Finally, Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $22.73.

Insider Transactions at First Watch Restaurant Group

In other First Watch Restaurant Group news, insider Jay Anthony Wolszczak sold 5,743 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the transaction, the insider now owns 37,768 shares of the company’s stock, valued at $634,880.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $706,675.59. Following the transaction, the chief executive officer now owns 389,832 shares of the company’s stock, valued at $6,553,075.92. This represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.