Wall Street analysts expect that Fiesta Restaurant Group Inc (NASDAQ:FRGI) will announce $0.23 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fiesta Restaurant Group’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.14. Fiesta Restaurant Group reported earnings per share of $0.30 in the same quarter last year, which would suggest a negative year over year growth rate of 23.3%. The company is expected to announce its next quarterly earnings results on Monday, August 6th.
According to Zacks, analysts expect that Fiesta Restaurant Group will report full-year earnings of $0.64 per share for the current financial year, with EPS estimates ranging from $0.47 to $0.74. For the next fiscal year, analysts forecast that the firm will post earnings of $0.82 per share, with EPS estimates ranging from $0.70 to $0.96. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fiesta Restaurant Group.
Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings data on Monday, May 7th. The restaurant operator reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $169.48 million during the quarter, compared to the consensus estimate of $163.86 million. Fiesta Restaurant Group had a positive return on equity of 5.87% and a negative net margin of 2.56%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. BidaskClub raised shares of Fiesta Restaurant Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. TheStreet raised shares of Fiesta Restaurant Group from a “d+” rating to a “c” rating in a report on Wednesday, May 9th. ValuEngine raised shares of Fiesta Restaurant Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Fiesta Restaurant Group in a report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.75.
Fiesta Restaurant Group traded down $0.45, reaching $24.25, during trading hours on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 158,200 shares, compared to its average volume of 277,913. The company has a market capitalization of $666.32 million, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. Fiesta Restaurant Group has a 12 month low of $15.50 and a 12 month high of $27.90. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 0.35.
Fiesta Restaurant Group declared that its board has initiated a stock buyback program on Monday, February 26th that permits the company to repurchase 1,500,000 outstanding shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In related news, major shareholder National Corp Leucadia acquired 7,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average cost of $18.39 per share, with a total value of $128,730.00. Following the completion of the acquisition, the insider now directly owns 3,270,578 shares of the company’s stock, valued at $60,145,929.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack A. Smith acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $17.04 per share, for a total transaction of $51,120.00. Following the completion of the acquisition, the director now directly owns 52,041 shares of the company’s stock, valued at $886,778.64. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 186,814 shares of company stock worth $3,113,194 and sold 941 shares worth $17,673. 1.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of Fiesta Restaurant Group by 129.0% during the fourth quarter. Deutsche Bank AG now owns 108,582 shares of the restaurant operator’s stock valued at $2,061,000 after buying an additional 61,163 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fiesta Restaurant Group by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,520,565 shares of the restaurant operator’s stock valued at $28,891,000 after buying an additional 71,514 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Fiesta Restaurant Group by 4.7% during the fourth quarter. BlackRock Inc. now owns 3,475,407 shares of the restaurant operator’s stock valued at $66,032,000 after buying an additional 155,965 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Fiesta Restaurant Group during the fourth quarter valued at $293,000. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Fiesta Restaurant Group by 24.1% during the fourth quarter. Kennedy Capital Management Inc. now owns 305,425 shares of the restaurant operator’s stock valued at $5,803,000 after buying an additional 59,401 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.
About Fiesta Restaurant Group
Fiesta Restaurant Group, Inc, through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.
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