Zacks: Brokerages Anticipate Fiesta Restaurant Group Inc (FRGI) Will Announce Quarterly Sales of $171.14 Million

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Wall Street analysts expect Fiesta Restaurant Group Inc (NASDAQ:FRGI) to report $171.14 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fiesta Restaurant Group’s earnings, with the lowest sales estimate coming in at $161.10 million and the highest estimate coming in at $181.17 million. Fiesta Restaurant Group posted sales of $169.48 million in the same quarter last year, which would indicate a positive year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings report on Monday, May 6th.

According to Zacks, analysts expect that Fiesta Restaurant Group will report full-year sales of $696.98 million for the current year, with estimates ranging from $668.30 million to $725.66 million. For the next fiscal year, analysts anticipate that the business will post sales of $684.90 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Fiesta Restaurant Group.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Monday, February 25th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Fiesta Restaurant Group had a return on equity of 6.77% and a net margin of 1.13%. The company had revenue of $167.60 million during the quarter, compared to the consensus estimate of $168.51 million. The company’s quarterly revenue was up 3.3% compared to the same quarter last year.

Several research firms have recently issued reports on FRGI. TheStreet downgraded Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research note on Monday, February 25th. BidaskClub cut Fiesta Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Thursday, March 7th. Zacks Investment Research cut Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 4th. ValuEngine cut Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Thursday, December 27th. Finally, Stephens reduced their target price on Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.00.

In related news, CEO Richard C. Stockinger bought 3,290 shares of Fiesta Restaurant Group stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $15.25 per share, for a total transaction of $50,172.50. Following the completion of the acquisition, the chief executive officer now directly owns 88,190 shares of the company’s stock, valued at approximately $1,344,897.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of FRGI. Norges Bank bought a new position in shares of Fiesta Restaurant Group in the 4th quarter worth $4,188,000. Equitable Trust Co. lifted its holdings in shares of Fiesta Restaurant Group by 380.8% in the 4th quarter. Equitable Trust Co. now owns 46,950 shares of the restaurant operator’s stock worth $728,000 after purchasing an additional 37,185 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Fiesta Restaurant Group by 44.5% in the 4th quarter. Millennium Management LLC now owns 402,035 shares of the restaurant operator’s stock worth $6,236,000 after purchasing an additional 123,769 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Fiesta Restaurant Group by 440.0% in the 4th quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Fiesta Restaurant Group in the 4th quarter worth $105,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Shares of Fiesta Restaurant Group stock traded up $0.16 on Friday, hitting $13.80. The stock had a trading volume of 300,550 shares, compared to its average volume of 194,209. Fiesta Restaurant Group has a twelve month low of $13.40 and a twelve month high of $30.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.95 and a quick ratio of 0.89. The company has a market capitalization of $371.47 million, a P/E ratio of 23.00 and a beta of 0.25.

Fiesta Restaurant Group Company Profile

Fiesta Restaurant Group, Inc engages in the acquisition, operation, and franchise of fast-casual restaurants. It operates through the following segments: Pollo Tropical, Taco Cabana, and Other. The Pollo Tropical segment offers a variety of Caribbean inspired food. The Taco Cabana segment serves a selection of Mexican inspired food.

Further Reading: What is a Leveraged Buyout (LBO)?

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