Brokerages Anticipate Del Taco Restaurants, Inc. (TACO) Will Announce Quarterly Sales of $110.13 Million
Brokerages predict that Del Taco Restaurants, Inc. (NASDAQ:TACO) will announce $110.13 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Del Taco Restaurants’ earnings, with the lowest sales estimate coming in at $109.40 million and the highest estimate coming in at $110.86 million. Del Taco Restaurants reported sales of $104.42 million during the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The firm is expected to report its next earnings report on Monday, October 16th.
On average, analysts expect that Del Taco Restaurants will report full-year sales of $110.13 million for the current fiscal year, with estimates ranging from $470.40 million to $474.82 million. For the next year, analysts expect that the business will report sales of $508.50 million per share, with estimates ranging from $507.20 million to $509.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Del Taco Restaurants.
Del Taco Restaurants (NASDAQ:TACO) last released its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The firm had revenue of $108.60 million during the quarter, compared to the consensus estimate of $107.08 million. During the same quarter in the prior year, the firm posted $0.13 EPS. The business’s revenue was up 8.6% on a year-over-year basis.
Several research firms have recently commented on TACO. Zacks Investment Research upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday. BidaskClub cut Del Taco Restaurants from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 target price on shares of Del Taco Restaurants in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.71.
Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its position in Del Taco Restaurants by 45.5% in the first quarter. Bank of America Corp DE now owns 26,256 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 8,207 shares during the last quarter. FMR LLC boosted its position in Del Taco Restaurants by 21.6% in the first quarter. FMR LLC now owns 4,218,083 shares of the restaurant operator’s stock worth $55,932,000 after purchasing an additional 749,348 shares during the last quarter. Vanguard Group Inc. boosted its position in Del Taco Restaurants by 7.1% in the first quarter. Vanguard Group Inc. now owns 1,233,306 shares of the restaurant operator’s stock worth $16,354,000 after purchasing an additional 81,525 shares during the last quarter. Tygh Capital Management Inc. boosted its position in Del Taco Restaurants by 8.8% in the second quarter. Tygh Capital Management Inc. now owns 425,780 shares of the restaurant operator’s stock worth $5,854,000 after purchasing an additional 34,517 shares during the last quarter. Finally, Millrace Asset Group Inc. boosted its position in Del Taco Restaurants by 24.3% in the first quarter. Millrace Asset Group Inc. now owns 167,504 shares of the restaurant operator’s stock worth $2,221,000 after purchasing an additional 32,748 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.
Del Taco Restaurants (NASDAQ TACO) opened at 13.68 on Monday. The firm has a market cap of $529.22 million, a P/E ratio of 24.08 and a beta of -0.22. The firm’s 50-day moving average price is $13.09 and its 200-day moving average price is $13.07. Del Taco Restaurants has a 52-week low of $10.75 and a 52-week high of $15.32.
About Del Taco Restaurants
Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Del Taco Restaurants Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Del Taco Restaurants Inc. and related companies with MarketBeat.com's FREE daily email newsletter.