Fiesta Restaurant Group, Inc. (FRGI) Expected to Post Quarterly Sales of $165.34 Million
Equities analysts expect Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) to report sales of $165.34 million for the current quarter, according to Zacks. Three analysts have made estimates for Fiesta Restaurant Group’s earnings, with the highest sales estimate coming in at $167.25 million and the lowest estimate coming in at $162.57 million. Fiesta Restaurant Group reported sales of $182.26 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.3%. The firm is expected to issue its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that Fiesta Restaurant Group will report full year sales of $165.34 million for the current fiscal year, with estimates ranging from $668.43 million to $679.19 million. For the next year, analysts expect that the firm will post sales of $682.94 million per share, with estimates ranging from $673.48 million to $696.95 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Fiesta Restaurant Group.
Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings results on Monday, August 7th. The restaurant operator reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. Fiesta Restaurant Group had a positive return on equity of 11.77% and a negative net margin of 2.75%. The firm had revenue of $172.62 million for the quarter, compared to analysts’ expectations of $178.19 million. During the same period in the prior year, the firm posted $0.34 earnings per share. Fiesta Restaurant Group’s revenue for the quarter was down 4.9% on a year-over-year basis.
FRGI has been the subject of several recent research reports. Zacks Investment Research lowered shares of Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 10th. BidaskClub lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Jefferies Group LLC reissued a “hold” rating and issued a $25.00 price objective on shares of Fiesta Restaurant Group in a research note on Monday, May 15th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Fiesta Restaurant Group in a research note on Monday, July 24th. Finally, Piper Jaffray Companies cut shares of Fiesta Restaurant Group from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $17.00 to $14.00 in a report on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.33.
In other news, Director Brian P. Friedman bought 160,000 shares of Fiesta Restaurant Group stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $18.83 per share, with a total value of $3,012,800.00. Following the completion of the acquisition, the director now directly owns 36,270 shares in the company, valued at $682,964.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard C. Stockinger bought 2,750 shares of Fiesta Restaurant Group stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $18.30 per share, for a total transaction of $50,325.00. Following the acquisition, the chief executive officer now owns 81,985 shares of the company’s stock, valued at $1,500,325.50. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 928,665 shares of company stock worth $16,751,177. 2.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Wasatch Advisors Inc. raised its holdings in Fiesta Restaurant Group by 11.5% in the second quarter. Wasatch Advisors Inc. now owns 3,572,879 shares of the restaurant operator’s stock valued at $73,780,000 after acquiring an additional 368,346 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Fiesta Restaurant Group by 29.7% during the second quarter. Public Employees Retirement System of Ohio now owns 88,090 shares of the restaurant operator’s stock worth $1,819,000 after purchasing an additional 20,148 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Fiesta Restaurant Group during the second quarter worth approximately $217,000. State Street Corp raised its holdings in Fiesta Restaurant Group by 4.8% during the second quarter. State Street Corp now owns 619,008 shares of the restaurant operator’s stock worth $12,777,000 after purchasing an additional 28,557 shares in the last quarter. Finally, Western Standard LLC raised its holdings in Fiesta Restaurant Group by 151.7% during the second quarter. Western Standard LLC now owns 193,306 shares of the restaurant operator’s stock worth $3,992,000 after purchasing an additional 116,518 shares in the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.
Fiesta Restaurant Group (NASDAQ FRGI) opened at 15.90 on Monday. Fiesta Restaurant Group has a 1-year low of $15.50 and a 1-year high of $30.65. The company’s 50 day moving average is $17.62 and its 200-day moving average is $21.10. The stock’s market capitalization is $426.68 million.
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Fiesta Restaurant Group Company Profile
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).
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