Arcos Dorados Holdings Upgraded to Buy by Buckingham Research (ARCO)
Arcos Dorados Holdings (NASDAQ:ARCO) was upgraded by investment analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Shares of Arcos Dorados Holdings (NASDAQ:ARCO) traded down 0.69% on Wednesday, hitting $8.62. The stock had a trading volume of 511,794 shares. Arcos Dorados Holdings has a 52-week low of $8.26 and a 52-week high of $15.06. The stock’s 50-day moving average is $9.30 and its 200-day moving average is $10.1.
Arcos Dorados Holdings (NASDAQ:ARCO) last released its earnings data on Tuesday, May 6th. The company reported ($0.10) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.03) earnings per share. Arcos Dorados Holdings’s revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that Arcos Dorados Holdings will post $0.27 earnings per share 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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