Fiesta Restaurant Group Inc (FRGI) to Post Q3 2018 Earnings of $0.14 Per Share, Wedbush Forecasts
Fiesta Restaurant Group Inc (NASDAQ:FRGI) – Investment analysts at Wedbush dropped their Q3 2018 earnings per share estimates for Fiesta Restaurant Group in a research report issued to clients and investors on Friday. Wedbush analyst N. Setyan now forecasts that the restaurant operator will earn $0.14 per share for the quarter, down from their prior forecast of $0.16. Wedbush has a “Outperform” rating and a $24.00 price objective on the stock. Wedbush also issued estimates for Fiesta Restaurant Group’s Q4 2018 earnings at $0.19 EPS.
FRGI has been the topic of several other reports. TheStreet cut Fiesta Restaurant Group from a “c-” rating to a “d+” rating in a report on Thursday, September 7th. Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Piper Jaffray Companies cut Fiesta Restaurant Group from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $14.00 in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Fiesta Restaurant Group presently has an average rating of “Hold” and a consensus price target of $22.60.
Fiesta Restaurant Group (NASDAQ:FRGI) last posted its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.19). Fiesta Restaurant Group had a positive return on equity of 9.49% and a negative net margin of 3.40%. The firm had revenue of $158.70 million during the quarter, compared to analyst estimates of $162.05 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was down 12.9% on a year-over-year basis.
In other news, insider Charles Locke bought 1,565 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $18.73 per share, with a total value of $29,312.45. Following the completion of the transaction, the insider now directly owns 1,565 shares in the company, valued at $29,312.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of FRGI. State of Alaska Department of Revenue increased its position in shares of Fiesta Restaurant Group by 80.0% during the second quarter. State of Alaska Department of Revenue now owns 5,346 shares of the restaurant operator’s stock worth $110,000 after acquiring an additional 2,376 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Fiesta Restaurant Group by 5.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,360 shares of the restaurant operator’s stock worth $131,000 after acquiring an additional 310 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Fiesta Restaurant Group by 61.2% during the second quarter. BNP Paribas Arbitrage SA now owns 10,225 shares of the restaurant operator’s stock worth $211,000 after acquiring an additional 3,880 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Fiesta Restaurant Group during the second quarter worth $217,000. Finally, Voya Investment Management LLC increased its position in shares of Fiesta Restaurant Group by 12.1% during the second quarter. Voya Investment Management LLC now owns 13,014 shares of the restaurant operator’s stock worth $269,000 after acquiring an additional 1,402 shares during the period. 94.11% of the stock is currently owned by institutional investors and hedge funds.
Fiesta Restaurant Group Company Profile
Fiesta Restaurant Group, Inc owns, operates and franchises two fast-casual restaurant brands, Pollo Tropical and Taco Cabana through its subsidiaries Pollo Operations, Inc, and its subsidiaries, and Pollo Franchise, Inc, (collectively Pollo Tropical) and Taco Cabana, Inc and its subsidiaries (collectively Taco Cabana).
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