Analysts predict that Fiesta Restaurant Group Inc (NASDAQ:FRGI) will report sales of $175.14 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Fiesta Restaurant Group’s earnings, with the lowest sales estimate coming in at $172.09 million and the highest estimate coming in at $178.20 million. Fiesta Restaurant Group reported sales of $176.83 million in the same quarter last year, which indicates a negative year over year growth rate of 1%. The company is expected to announce its next quarterly earnings report on Monday, August 5th.
On average, analysts expect that Fiesta Restaurant Group will report full-year sales of $682.05 million for the current year, with estimates ranging from $673.81 million to $690.30 million. For the next financial year, analysts expect that the firm will report sales of $704.16 million, with estimates ranging from $698.71 million to $709.60 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Fiesta Restaurant Group.
Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Monday, May 6th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The firm had revenue of $165.85 million for the quarter, compared to the consensus estimate of $163.15 million. Fiesta Restaurant Group had a net margin of 0.86% and a return on equity of 6.55%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share.
A number of analysts have recently issued reports on the company. Stephens lowered their price objective on Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 26th. BidaskClub upgraded Fiesta Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd. TheStreet cut Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research report on Monday, February 25th. ValuEngine upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.67.
Shares of FRGI traded down $0.11 on Wednesday, reaching $14.09. 262,977 shares of the stock traded hands, compared to its average volume of 226,955. The stock has a market cap of $386.80 million, a PE ratio of 23.48 and a beta of 0.21. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.38. Fiesta Restaurant Group has a 12 month low of $12.27 and a 12 month high of $30.88.
In related news, major shareholder Jefferies Financial Group Inc. purchased 167,809 shares of the stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $13.03 per share, for a total transaction of $2,186,551.27. Following the completion of the transaction, the insider now directly owns 3,954,430 shares of the company’s stock, valued at approximately $51,526,222.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard C. Stockinger purchased 3,290 shares of the stock in a transaction on Friday, March 1st. The stock was bought at an average price of $15.25 per share, for a total transaction of $50,172.50. Following the completion of the transaction, the chief executive officer now directly owns 88,190 shares of the company’s stock, valued at $1,344,897.50. The disclosure for this purchase can be found here. Insiders acquired 710,913 shares of company stock worth $9,717,099 over the last quarter. Company insiders own 1.40% of the company’s stock.
A number of large investors have recently made changes to their positions in FRGI. Renaissance Technologies LLC acquired a new stake in Fiesta Restaurant Group in the 3rd quarter valued at about $539,000. Assenagon Asset Management S.A. purchased a new position in Fiesta Restaurant Group in the 4th quarter valued at about $3,061,000. Quantamental Technologies LLC purchased a new position in Fiesta Restaurant Group in the 4th quarter valued at about $67,000. New York State Teachers Retirement System lifted its holdings in Fiesta Restaurant Group by 18.1% in the 4th quarter. New York State Teachers Retirement System now owns 21,577 shares of the restaurant operator’s stock valued at $335,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Fiesta Restaurant Group by 6.1% in the 4th quarter. Arizona State Retirement System now owns 36,099 shares of the restaurant operator’s stock valued at $560,000 after purchasing an additional 2,083 shares in the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.
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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.
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