Fiesta Restaurant Group, Inc. (FRGI) Expected to Post Quarterly Sales of $181.94 Million
Equities research analysts expect Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) to announce $181.94 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Fiesta Restaurant Group’s earnings, with the highest sales estimate coming in at $188.54 million and the lowest estimate coming in at $178.23 million. Fiesta Restaurant Group reported sales of $181.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.2%. The company is scheduled to announce its next earnings report on Wednesday, August 2nd.
On average, analysts expect that Fiesta Restaurant Group will report full-year sales of $181.94 million for the current fiscal year, with estimates ranging from $678.30 million to $710.60 million. For the next financial year, analysts expect that the company will post sales of $720.69 million per share, with estimates ranging from $714.97 million to $726.95 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Fiesta Restaurant Group.
Fiesta Restaurant Group (NASDAQ:FRGI) last announced its quarterly earnings results on Monday, May 8th. The restaurant operator reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Fiesta Restaurant Group had a negative net margin of 1.16% and a positive return on equity of 12.01%. The firm had revenue of $175.60 million during the quarter, compared to the consensus estimate of $177.63 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis.
A number of analysts have recently issued reports on the stock. Jefferies Group LLC reduced their price objective on shares of Fiesta Restaurant Group from $28.00 to $25.00 and set a “hold” rating for the company in a research note on Tuesday, February 28th. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Fiesta Restaurant Group in a research note on Tuesday, March 7th. Stephens cut shares of Fiesta Restaurant Group from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Tuesday, May 9th. Zacks Investment Research cut shares of Fiesta Restaurant Group from a “buy” rating to a “sell” rating in a research note on Thursday, March 2nd. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Fiesta Restaurant Group in a research note on Tuesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Fiesta Restaurant Group currently has a consensus rating of “Hold” and an average price target of $27.57.
In related news, Director Brian P. Friedman bought 309,115 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average price of $21.12 per share, for a total transaction of $6,528,508.80. Following the completion of the transaction, the director now owns 36,270 shares in the company, valued at $766,022.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian P. Friedman bought 28,093 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were bought at an average price of $21.65 per share, with a total value of $608,213.45. Following the transaction, the director now owns 32,681 shares of the company’s stock, valued at approximately $707,543.65. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 351,595 shares of company stock valued at $7,451,569. 2.20% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC raised its position in shares of Fiesta Restaurant Group by 7.7% in the first quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock worth $152,000 after buying an additional 450 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Fiesta Restaurant Group during the first quarter worth $202,000. Bronfman E.L. Rothschild L.P. raised its position in shares of Fiesta Restaurant Group by 6.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,220 shares of the restaurant operator’s stock worth $223,000 after buying an additional 560 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Fiesta Restaurant Group during the fourth quarter worth $225,000. Finally, Edge Wealth Management LLC bought a new position in shares of Fiesta Restaurant Group during the first quarter worth $242,000. Hedge funds and other institutional investors own 98.64% of the company’s stock.
Fiesta Restaurant Group (NASDAQ FRGI) opened at 21.10 on Friday. The firm has a 50-day moving average of $22.63 and a 200 day moving average of $25.15. The company’s market capitalization is $565.21 million. Fiesta Restaurant Group has a one year low of $19.40 and a one year high of $30.65.
About Fiesta Restaurant Group
Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fiesta Restaurant Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiesta Restaurant Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.