Arcos Dorados Holdings Hits New 52-Week Low at $7.67 (ARCO)
Arcos Dorados Holdings (NASDAQ:ARCO) shares hit a new 52-week low on Monday , StockRatingsNetwork reports. The stock traded as low as $7.67 and last traded at $7.95, with a volume of 302,287 shares trading hands. The stock had previously closed at $7.84.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Arcos Dorados Holdings from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $7.10 price target on the stock. Separately, analysts at HSBC downgraded shares of Arcos Dorados Holdings from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 22nd. They now have a $7.00 price target on the stock, down previously from $9.00. Finally, analysts at Bank of America upgraded shares of Arcos Dorados Holdings from an “underperform” rating to a “buy” rating in a research note on Monday, June 9th. They now have a $14.16 price target on the stock, up previously from $9.61. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Arcos Dorados Holdings presently has a consensus rating of “Hold” and an average price target of $9.82.
The stock’s 50-day moving average is $9.86 and its 200-day moving average is $9.56.
Arcos Dorados Holdings (NASDAQ:ARCO) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.47) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.40. The company had revenue of $917.90 million for the quarter, compared to the consensus estimate of $951.90 million. During the same quarter last year, the company posted $0.04 earnings per share. Arcos Dorados Holdings’s revenue was down 7.2% compared to the same quarter last year. Analysts expect that Arcos Dorados Holdings will post $-0.05 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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