Fiesta Restaurant Group Inc (NASDAQ:FRGI) Expected to Announce Quarterly Sales of $175.14 Million

Analysts expect that Fiesta Restaurant Group Inc (NASDAQ:FRGI) will post $175.14 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Fiesta Restaurant Group’s earnings, with the lowest sales estimate coming in at $172.09 million and the highest estimate coming in at $178.20 million. Fiesta Restaurant Group reported sales of $176.83 million in the same quarter last year, which would suggest a negative year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Fiesta Restaurant Group will report full-year sales of $682.05 million for the current year, with estimates ranging from $673.81 million to $690.30 million. For the next year, analysts anticipate that the firm will report sales of $704.16 million, with estimates ranging from $698.71 million to $709.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Fiesta Restaurant Group.

Fiesta Restaurant Group (NASDAQ:FRGI) last released its quarterly earnings data on Monday, May 6th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The firm had revenue of $165.85 million for the quarter, compared to analyst estimates of $163.15 million. Fiesta Restaurant Group had a net margin of 0.86% and a return on equity of 6.55%. Fiesta Restaurant Group’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS.

A number of analysts recently issued reports on FRGI shares. BidaskClub raised Fiesta Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd. Stephens decreased their price target on shares of Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, February 26th. TheStreet lowered shares of Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research note on Monday, March 11th. Finally, ValuEngine lowered shares of Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. 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. Fiesta Restaurant Group currently has a consensus rating of “Hold” and a consensus target price of $22.67.

In other news, major shareholder Jefferies Financial Group Inc. acquired 429,389 shares of Fiesta Restaurant Group stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $5,904,098.75. Following the purchase, the insider now owns 4,768,058 shares in the company, valued at $65,560,797.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 1,588,075 shares of company stock valued at $21,794,537. 1.40% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. lifted its holdings in Fiesta Restaurant Group by 15.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 3,786,621 shares of the restaurant operator’s stock valued at $56,269,000 after purchasing an additional 516,043 shares in the last quarter. Kennedy Capital Management Inc. increased its position in Fiesta Restaurant Group by 370.5% in the first quarter. Kennedy Capital Management Inc. now owns 432,798 shares of the restaurant operator’s stock worth $5,674,000 after purchasing an additional 340,806 shares during the last quarter. Norges Bank bought a new stake in Fiesta Restaurant Group in the fourth quarter worth $4,188,000. Portolan Capital Management LLC increased its position in Fiesta Restaurant Group by 188.3% in the fourth quarter. Portolan Capital Management LLC now owns 260,169 shares of the restaurant operator’s stock worth $4,035,000 after purchasing an additional 169,924 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Fiesta Restaurant Group by 74.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 337,160 shares of the restaurant operator’s stock worth $5,229,000 after purchasing an additional 143,362 shares during the last quarter. Institutional investors and hedge funds own 93.20% of the company’s stock.

FRGI traded up $0.16 during trading on Friday, reaching $13.87. 176,900 shares of the stock traded hands, compared to its average volume of 237,037. The stock has a market cap of $371.98 million, a price-to-earnings ratio of 23.12 and a beta of 0.02. Fiesta Restaurant Group has a fifty-two week low of $12.27 and a fifty-two week high of $30.88. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.38.

Fiesta Restaurant Group Company Profile

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 fire-grilled and citrus marinated chicken, and other freshly prepared tropical inspired menu items; and Taco Cabana restaurants that provide Mexican inspired food made fresh by hand.

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