Arcos Dorados Holdings Upgraded to “Neutral” by Zacks (ARCO)
Arcos Dorados Holdings (NASDAQ:ARCO) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday. The firm currently has a $9.50 price target on the stock. Zacks‘s price target suggests a potential upside of 9.07% from the stock’s previous close.
Shares of Arcos Dorados Holdings (NASDAQ:ARCO) traded up 0.23% on Friday, 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 has a 50-day moving average of $9.40 and a 200-day moving average of $10.21.
Arcos Dorados Holdings (NASDAQ:ARCO) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue 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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