$0.22 Earnings Per Share Expected for Fiesta Restaurant Group, Inc. (FRGI) This Quarter
Equities analysts expect Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) to post earnings per share of $0.22 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fiesta Restaurant Group’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.17. Fiesta Restaurant Group posted earnings of $0.30 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.7%. The firm is expected to report its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Fiesta Restaurant Group will report full year earnings of $0.95 per share for the current fiscal year, with EPS estimates ranging from $0.91 to $1.03. For the next year, analysts expect that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.73 to $1.07. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Fiesta Restaurant Group.
Fiesta Restaurant Group (NASDAQ:FRGI) last issued its earnings results on Monday, August 7th. The restaurant operator reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The business had revenue of $172.62 million during the quarter, compared to analyst estimates of $178.19 million. Fiesta Restaurant Group had a negative net margin of 2.75% and a positive return on equity of 11.77%. Fiesta Restaurant Group’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share.
Several research analysts have recently issued reports on FRGI shares. BidaskClub downgraded Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $17.00 price target (down previously from $22.00) on shares of Fiesta Restaurant Group in a research note on Thursday, August 10th. Zacks Investment Research downgraded Fiesta Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 10th. Wedbush reaffirmed a “buy” rating on shares of Fiesta Restaurant Group in a research note on Monday, September 18th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Fiesta Restaurant Group in a research note on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Fiesta Restaurant Group presently has a consensus rating of “Hold” and an average price target of $23.40.
Shares of Fiesta Restaurant Group (FRGI) traded up 0.29% during midday trading on Tuesday, hitting $17.15. 101,564 shares of the stock were exchanged. Fiesta Restaurant Group has a 12-month low of $15.50 and a 12-month high of $30.65. The firm has a 50-day moving average price of $17.70 and a 200 day moving average price of $20.21. The firm’s market cap is $460.22 million.
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In other news, CEO Richard C. Stockinger bought 2,750 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $18.30 per share, with a total value of $50,325.00. Following the purchase, the chief executive officer now owns 81,985 shares of the company’s stock, valued at approximately $1,500,325.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Friedman bought 290,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average cost of $16.06 per share, with a total value of $4,657,400.00. Following the purchase, the director now directly owns 2,152,565 shares in the company, valued at approximately $34,570,193.90. The disclosure for this purchase can be found here. Insiders purchased a total of 1,271,375 shares of company stock valued at $22,323,743 in the last three months. 2.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in FRGI. State of Alaska Department of Revenue raised its stake in Fiesta Restaurant Group by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 2,376 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Fiesta Restaurant Group by 5.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 310 shares during the last quarter. Mason Street Advisors LLC raised its stake in Fiesta Restaurant Group by 7.7% in the 1st quarter. Mason Street Advisors LLC now owns 6,295 shares of the restaurant operator’s stock valued at $152,000 after purchasing an additional 450 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Fiesta Restaurant Group by 61.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,225 shares of the restaurant operator’s stock valued at $211,000 after purchasing an additional 3,880 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Fiesta Restaurant Group in the 2nd quarter valued at about $217,000. 94.00% of the stock is owned by hedge funds and other institutional investors.
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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