Zacks: Analysts Expect Fiesta Restaurant Group, Inc. (FRGI) Will Announce Quarterly Sales of $163.15 Million

Wall Street analysts predict that Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) will announce sales of $163.15 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Fiesta Restaurant Group’s earnings, with the lowest sales estimate coming in at $160.68 million and the highest estimate coming in at $166.22 million. Fiesta Restaurant Group posted sales of $182.26 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.5%. The firm is scheduled to report its next earnings results on Monday, November 6th.

On average, analysts expect that Fiesta Restaurant Group will report full year sales of $163.15 million for the current fiscal year, with estimates ranging from $665.60 million to $671.15 million. For the next financial year, analysts expect that the firm will report sales of $679.49 million per share, with estimates ranging from $673.48 million to $686.62 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Fiesta Restaurant Group.



Fiesta Restaurant Group (NASDAQ:FRGI) last announced its earnings results on Monday, August 7th. The restaurant operator reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. The firm had revenue of $172.62 million for the quarter, compared to the consensus estimate of $178.19 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the stock. Wedbush reissued a “buy” rating on shares of Fiesta Restaurant Group in a report on Monday, September 18th. TheStreet lowered shares of Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a report on Thursday, September 7th. Piper Jaffray Companies lowered shares of Fiesta Restaurant Group from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $14.00 in a research note on Thursday, September 7th. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Fiesta Restaurant Group in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $23.40.

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Fiesta Restaurant Group (NASDAQ:FRGI) opened at 16.85 on Thursday. The company’s 50-day moving average price is $17.65 and its 200 day moving average price is $20.09. The company’s market cap is $452.17 million. Fiesta Restaurant Group has a 52 week low of $15.50 and a 52 week high of $30.65.

In other Fiesta Restaurant Group news, Director Brian P. Friedman purchased 140,000 shares of Fiesta Restaurant Group stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $18.41 per share, with a total value of $2,577,400.00. Following the completion of the transaction, the director now owns 36,270 shares of the company’s stock, valued at $667,730.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian P. Friedman purchased 60,000 shares of Fiesta Restaurant Group stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $18.71 per share, for a total transaction of $1,122,600.00. Following the transaction, the director now directly owns 36,270 shares of the company’s stock, valued at approximately $678,611.70. The disclosure for this purchase can be found here. Insiders have bought 1,271,375 shares of company stock worth $22,323,743 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FRGI. Wasatch Advisors Inc. lifted its position in shares of Fiesta Restaurant Group by 11.5% during the second quarter. Wasatch Advisors Inc. now owns 3,572,879 shares of the restaurant operator’s stock worth $73,780,000 after purchasing an additional 368,346 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fiesta Restaurant Group by 32.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,449,051 shares of the restaurant operator’s stock worth $29,923,000 after purchasing an additional 354,351 shares in the last quarter. Leucadia National Corp lifted its position in shares of Fiesta Restaurant Group by 34.7% during the second quarter. Leucadia National Corp now owns 1,356,295 shares of the restaurant operator’s stock worth $28,007,000 after purchasing an additional 349,295 shares in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Fiesta Restaurant Group during the first quarter worth about $5,830,000. Finally, Thomson Horstmann & Bryant Inc. lifted its position in shares of Fiesta Restaurant Group by 1,333.5% during the second quarter. Thomson Horstmann & Bryant Inc. now owns 179,764 shares of the restaurant operator’s stock worth $3,712,000 after purchasing an additional 167,224 shares in the last quarter. 94.00% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Fiesta Restaurant Group (NASDAQ:FRGI)

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