Arcos Dorados Holding Reaches New 52-Week Low at $7.06 (ARCO)
Arcos Dorados Holding (NASDAQ:ARCO) reached a new 52-week low on Thursday , AnalystRatings.NET reports. The company traded as low as $7.06 and last traded at $7.10, with a volume of 235,944 shares changing hands. The stock had previously closed at $7.10.
A number of analysts have recently weighed in on ARCO shares. Analysts at Bank of America downgraded shares of Arcos Dorados Holding from a “buy” rating to a “neutral” rating in a research note on Tuesday. They now have a $8.00 price target on the stock, down previously from $14.00. Separately, analysts at Citigroup Inc. downgraded shares of Arcos Dorados Holding from a “neutral” rating to a “sell” rating in a research note on Thursday, August 21st. Finally, analysts at Zacks downgraded shares of Arcos Dorados Holding 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. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $8.28.
The stock’s 50-day moving average is $9.09 and its 200-day moving average is $9.49.
Arcos Dorados Holding (NASDAQ:ARCO) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts expect that Arcos Dorados Holding will post $-0.23 EPS for the current fiscal year.
Arcos Dorados Holdings Inc is an Argentina-based company engaged in the operation of McDonald’s franchisees.
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