Del Taco Restaurants (NASDAQ:TACO) Announces Earnings Results

Del Taco Restaurants (NASDAQ:TACO) announced its quarterly earnings results on Monday. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13, Briefing.com reports. The company had revenue of $121.50 million during the quarter, compared to the consensus estimate of $120.37 million. Del Taco Restaurants had a return on equity of 4.75% and a net margin of 3.38%. Del Taco Restaurants’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. Del Taco Restaurants updated its FY 2019 guidance to $0.47-0.52 EPS and its FY19 guidance to ~$0.47-0.52 EPS.

Del Taco Restaurants stock opened at $12.01 on Wednesday. Del Taco Restaurants has a fifty-two week low of $9.45 and a fifty-two week high of $13.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.28 and a quick ratio of 0.24. The stock has a market cap of $456.38 million, a P/E ratio of 21.45, a P/E/G ratio of 1.58 and a beta of 0.25. The firm has a 50-day moving average price of $12.34.

TACO has been the subject of a number of recent analyst reports. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Maxim Group decreased their price target on Apple to $211.00 and set a “hold” rating for the company in a report on Wednesday. Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Del Taco Restaurants currently has an average rating of “Buy” and a consensus target price of $14.17.

In other news, SVP David Pear sold 13,500 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $11.85, for a total value of $159,975.00. Following the completion of the sale, the senior vice president now directly owns 118,210 shares of the company’s stock, valued at approximately $1,400,788.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.40% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan acquired a new position in Del Taco Restaurants in the 4th quarter valued at about $320,000. Rothschild Investment Corp IL increased its position in Del Taco Restaurants by 6.8% in the 1st quarter. Rothschild Investment Corp IL now owns 41,100 shares of the restaurant operator’s stock valued at $413,000 after acquiring an additional 2,600 shares during the period. Citigroup Inc. increased its position in Del Taco Restaurants by 13.2% in the 4th quarter. Citigroup Inc. now owns 15,141 shares of the restaurant operator’s stock valued at $151,000 after acquiring an additional 1,760 shares during the period. California Public Employees Retirement System acquired a new position in Del Taco Restaurants in the 4th quarter valued at about $364,000. Finally, Geode Capital Management LLC increased its position in Del Taco Restaurants by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 384,048 shares of the restaurant operator’s stock valued at $3,836,000 after acquiring an additional 16,208 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.

About Del Taco Restaurants

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of December 10, 2018, it operated approximately 560 restaurants across 14 states.

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Earnings History for Del Taco Restaurants (NASDAQ:TACO)

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