Fiesta Restaurant Group Inc (FRGI) Expected to Announce Earnings of $0.23 Per Share

Wall Street brokerages expect Fiesta Restaurant Group Inc (NASDAQ:FRGI) to report earnings per share (EPS) of $0.23 for the current quarter, according to Zacks. Three analysts have made estimates for Fiesta Restaurant Group’s earnings, with estimates ranging from $0.14 to $0.27. Fiesta Restaurant Group reported earnings of $0.30 per share during the same quarter last year, which would suggest a negative year over year growth rate of 23.3%. The firm is scheduled to announce its next earnings results on Monday, August 6th.

On average, analysts expect that Fiesta Restaurant Group will report full year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.74. For the next financial year, analysts expect that the firm will report earnings of $0.82 per share, with EPS estimates ranging from $0.70 to $0.96. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Fiesta Restaurant Group.

Get Fiesta Restaurant Group alerts:

Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings results on Monday, May 7th. The restaurant operator reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $169.48 million during the quarter, compared to analysts’ expectations of $163.86 million. Fiesta Restaurant Group had a positive return on equity of 5.87% and a negative net margin of 2.56%. Fiesta Restaurant Group’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share.

A number of analysts have recently issued reports on the stock. ValuEngine raised shares of Fiesta Restaurant Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Zacks Investment Research raised shares of Fiesta Restaurant Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Thursday, May 10th. BidaskClub raised shares of Fiesta Restaurant Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 12th. Stephens raised shares of Fiesta Restaurant Group from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Tuesday, May 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Fiesta Restaurant Group in a research report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Fiesta Restaurant Group has a consensus rating of “Buy” and a consensus target price of $22.75.

In other Fiesta Restaurant Group news, Director Jack A. Smith acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of $17.04 per share, with a total value of $51,120.00. Following the completion of the transaction, the director now owns 52,041 shares in the company, valued at $886,778.64. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder National Corp Leucadia acquired 7,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average cost of $18.39 per share, for a total transaction of $128,730.00. Following the transaction, the insider now owns 3,270,578 shares of the company’s stock, valued at approximately $60,145,929.42. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 186,814 shares of company stock worth $3,113,194 and have sold 941 shares worth $17,673. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of FRGI. Oaktree Capital Management LP raised its position in Fiesta Restaurant Group by 243.3% during the fourth quarter. Oaktree Capital Management LP now owns 950,000 shares of the restaurant operator’s stock valued at $18,050,000 after acquiring an additional 673,286 shares in the last quarter. BlackRock Inc. grew its holdings in Fiesta Restaurant Group by 4.7% during the fourth quarter. BlackRock Inc. now owns 3,475,407 shares of the restaurant operator’s stock valued at $66,032,000 after purchasing an additional 155,965 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Fiesta Restaurant Group during the fourth quarter valued at approximately $2,423,000. Heartland Advisors Inc. acquired a new position in Fiesta Restaurant Group during the first quarter valued at approximately $2,313,000. Finally, 22NW LP grew its holdings in Fiesta Restaurant Group by 191.4% during the first quarter. 22NW LP now owns 179,972 shares of the restaurant operator’s stock valued at $3,329,000 after purchasing an additional 118,208 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Fiesta Restaurant Group traded down $0.45, reaching $24.25, during mid-day trading on Tuesday, according to MarketBeat. The company had a trading volume of 158,200 shares, compared to its average volume of 277,913. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.71. The firm has a market capitalization of $666.32 million, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. Fiesta Restaurant Group has a 12-month low of $15.50 and a 12-month high of $27.90.

Fiesta Restaurant Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 26th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the restaurant operator to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About Fiesta Restaurant Group

Fiesta Restaurant Group, Inc, through its subsidiaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brands. The company's Pollo Tropical restaurants offer citrus marinated, fire-grilled chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants provide Mexican inspired food made fresh by hand.

Get a free copy of the Zacks research report on Fiesta Restaurant Group (FRGI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fiesta Restaurant Group (NASDAQ:FRGI)

Leave a Reply

Your email address will not be published. Required fields are marked *