Fiesta Restaurant Group Inc (FRGI) Expected to Announce Quarterly Sales of $156.27 Million

Wall Street analysts expect Fiesta Restaurant Group Inc (NASDAQ:FRGI) to post sales of $156.27 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fiesta Restaurant Group’s earnings, with estimates ranging from $156.08 million to $156.46 million. Fiesta Restaurant Group reported sales of $171.31 million in the same quarter last year, which suggests a negative year over year growth rate of 8.8%. The business is expected to issue its next quarterly earnings results on Monday, February 26th.

According to Zacks, analysts expect that Fiesta Restaurant Group will report full year sales of $156.27 million for the current financial year, with estimates ranging from $661.20 million to $666.00 million. For the next year, analysts forecast that the business will post sales of $672.01 million per share, with estimates ranging from $665.57 million to $683.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Fiesta Restaurant Group.

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Monday, November 6th. The restaurant operator reported $0.06 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.19). Fiesta Restaurant Group had a negative net margin of 3.40% and a positive return on equity of 9.49%. The business had revenue of $158.70 million during the quarter, compared to the consensus estimate of $162.05 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year.

FRGI has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $24.00 price target (up previously from $19.00) on shares of Fiesta Restaurant Group in a report on Friday, December 8th. Zacks Investment Research upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, BidaskClub lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.60.

In other news, insider Charles Locke acquired 1,565 shares of Fiesta Restaurant Group stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average price of $18.73 per share, for a total transaction of $29,312.45. Following the purchase, the insider now directly owns 1,565 shares in the company, valued at approximately $29,312.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of FRGI. Schwab Charles Investment Management Inc. increased its stake in Fiesta Restaurant Group by 2.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 116,070 shares of the restaurant operator’s stock valued at $2,397,000 after purchasing an additional 2,497 shares in the last quarter. Rhumbline Advisers increased its stake in Fiesta Restaurant Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 51,779 shares of the restaurant operator’s stock valued at $1,069,000 after purchasing an additional 1,168 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Fiesta Restaurant Group by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 328,945 shares of the restaurant operator’s stock valued at $6,793,000 after purchasing an additional 6,246 shares in the last quarter. Legal & General Group Plc increased its stake in Fiesta Restaurant Group by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 51,195 shares of the restaurant operator’s stock valued at $1,057,000 after purchasing an additional 4,285 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Fiesta Restaurant Group by 61.2% during 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 in the last quarter.

Shares of Fiesta Restaurant Group (FRGI) opened at $19.10 on Wednesday. Fiesta Restaurant Group has a twelve month low of $15.50 and a twelve month high of $28.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.53 and a quick ratio of 0.49. The company has a market cap of $514.20, a PE ratio of -22.21, a PEG ratio of 1.96 and a beta of 0.76.

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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).

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