Arcos Dorados Holdings Lowered to “Underperform” at Zacks (ARCO)
Arcos Dorados Holdings (NASDAQ:ARCO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Thursday. They currently have a $8.20 price objective on the stock. Zacks‘s target price indicates a potential downside of 5.86% from the company’s current price.
Arcos Dorados Holdings (NASDAQ:ARCO) traded up 0.23% during mid-day trading on Thursday, hitting $8.71. The stock had a trading volume of 243,303 shares. Arcos Dorados Holdings has a 52-week low of $8.26 and a 52-week high of $15.30. The stock’s 50-day moving average is $9.40 and its 200-day moving average is $10.21.
Arcos Dorados Holdings (NASDAQ:ARCO) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.15. The company had revenue of $915.50 million for the quarter, compared to the consensus estimate of $962.30 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Arcos Dorados Holdings will post $0.27 EPS for the current fiscal year.
Arcos Dorados Holdings Inc is a McDonald’s franchisee. As of December 31, 2010, the Company operated or franchised 1,755 McDonald’s-branded restaurants, which represented 6.
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