Arcos Dorados Holding Inc (NYSE:ARCO)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $6.75 and last traded at $6.80, with a volume of 1034982 shares trading hands. The stock had previously closed at $7.15.
Several brokerages recently weighed in on ARCO. ValuEngine lowered Arcos Dorados from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Zacks Investment Research upgraded Arcos Dorados from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Friday, May 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $10.20.
The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.96. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.92 and a beta of 1.79.
Arcos Dorados (NYSE:ARCO) last announced its quarterly earnings results on Wednesday, May 9th. The restaurant operator reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.02). Arcos Dorados had a net margin of 2.63% and a return on equity of 19.72%. The business had revenue of $849.89 million during the quarter. analysts forecast that Arcos Dorados Holding Inc will post 0.38 earnings per share for the current year.
Arcos Dorados announced that its board has approved a stock buyback program on Tuesday, May 22nd that permits the company to buyback $60.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently bought and sold shares of the business. Stifel Financial Corp increased its stake in Arcos Dorados by 13.3% during the 1st quarter. Stifel Financial Corp now owns 62,210 shares of the restaurant operator’s stock worth $572,000 after buying an additional 7,298 shares in the last quarter. Eaton Vance Management increased its stake in Arcos Dorados by 28.5% during the 1st quarter. Eaton Vance Management now owns 36,818 shares of the restaurant operator’s stock worth $337,000 after buying an additional 8,173 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Arcos Dorados during the 1st quarter worth approximately $102,000. Royal Bank of Canada boosted its holdings in shares of Arcos Dorados by 10.2% during the 1st quarter. Royal Bank of Canada now owns 136,700 shares of the restaurant operator’s stock worth $1,250,000 after purchasing an additional 12,691 shares during the last quarter. Finally, Usca Ria LLC acquired a new position in shares of Arcos Dorados during the 1st quarter worth approximately $119,000. Institutional investors own 37.56% of the company’s stock.
Arcos Dorados Company Profile
Arcos Dorados Holdings Inc operates as a franchisee of McDonald's restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald's restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the United States Virgin Islands of St.
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