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

Wall Street brokerages expect Fiesta Restaurant Group Inc (NASDAQ:FRGI) to post sales of $171.14 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Fiesta Restaurant Group’s earnings, with the highest sales estimate coming in at $181.17 million and the lowest estimate coming in at $161.10 million. Fiesta Restaurant Group reported sales of $169.48 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1%. The business 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 year, analysts anticipate that the firm will post sales of $684.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Fiesta Restaurant Group.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings results on Monday, February 25th. The restaurant operator reported $0.08 earnings per share for the quarter, topping the 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 firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $168.51 million. Fiesta Restaurant Group’s revenue was up 3.3% on a year-over-year basis.

FRGI has been the topic of several recent analyst reports. BidaskClub upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Zacks Investment Research downgraded Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 4th. ValuEngine downgraded Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a report on Thursday, December 27th. Finally, Stephens reduced their price target 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.00.

In other Fiesta Restaurant Group news, CEO Richard C. Stockinger purchased 3,290 shares of Fiesta Restaurant Group stock in a transaction dated Friday, March 1st. The shares were purchased 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 owns 88,190 shares in the company, valued at approximately $1,344,897.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. increased its holdings in Fiesta Restaurant Group by 440.0% during 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 during the period. Quantamental Technologies LLC purchased a new stake in shares of Fiesta Restaurant Group during the fourth quarter worth $67,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Fiesta Restaurant Group during the fourth quarter worth $105,000. Metropolitan Life Insurance Co. NY increased its position in shares of Fiesta Restaurant Group by 259.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,881 shares of the restaurant operator’s stock worth $107,000 after acquiring an additional 4,968 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Fiesta Restaurant Group during the third quarter worth $136,000. Institutional investors own 95.56% of the company’s stock.

Shares of NASDAQ FRGI traded up $0.16 during midday trading on Friday, hitting $13.80. The company’s stock had a trading volume of 300,550 shares, compared to its average volume of 194,209. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.95. Fiesta Restaurant Group has a 12-month low of $13.40 and a 12-month high of $30.88. The company has a market cap of $371.47 million, a price-to-earnings ratio of 23.00 and a beta of 0.25.

About Fiesta Restaurant Group

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.

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