$156.27 Million in Sales Expected for Fiesta Restaurant Group Inc (FRGI) This Quarter

Wall Street brokerages predict that Fiesta Restaurant Group Inc (NASDAQ:FRGI) will report $156.27 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Fiesta Restaurant Group’s earnings, with the highest sales estimate coming in at $156.46 million and the lowest estimate coming in at $156.08 million. Fiesta Restaurant Group reported sales of $171.31 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.8%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, February 26th.

On average, analysts expect that Fiesta Restaurant Group will report full year sales of $156.27 million for the current financial year, with estimates ranging from $661.20 million to $666.00 million. For the next year, analysts anticipate that the business will post sales of $672.01 million per share, with estimates ranging from $665.57 million to $683.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fiesta Restaurant Group.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings data on Monday, November 6th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.19). The business had revenue of $158.70 million for the quarter, compared to analyst estimates of $162.05 million. Fiesta Restaurant Group had a negative net margin of 3.40% and a positive return on equity of 9.49%. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share.

FRGI has been the subject of a number of analyst reports. Wedbush reiterated a “buy” rating and set a $19.00 price objective on shares of Fiesta Restaurant Group in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, BidaskClub upgraded shares of Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Fiesta Restaurant Group has an average rating of “Hold” and a consensus price target of $22.60.

In other news, insider Charles Locke purchased 1,565 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $18.73 per share, for a total transaction of $29,312.45. Following the completion of the acquisition, the insider now owns 1,565 shares in the company, valued at $29,312.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan boosted its holdings in Fiesta Restaurant Group by 59.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,160 shares of the restaurant operator’s stock worth $193,000 after purchasing an additional 3,800 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Fiesta Restaurant Group during the second quarter worth about $217,000. BNP Paribas Arbitrage SA boosted its holdings in Fiesta Restaurant Group by 37.9% during the third quarter. BNP Paribas Arbitrage SA now owns 14,096 shares of the restaurant operator’s stock worth $268,000 after purchasing an additional 3,871 shares during the last quarter. Voya Investment Management LLC boosted its holdings in 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 purchasing an additional 1,402 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in Fiesta Restaurant Group during the third quarter worth about $270,000. Institutional investors and hedge funds own 97.10% of the company’s stock.

Shares of Fiesta Restaurant Group (FRGI) traded down $0.15 during midday trading on Friday, hitting $17.95. 234,193 shares of the stock were exchanged, compared to its average volume of 211,359. The firm has a market capitalization of $483.24, a PE ratio of -20.87, a P/E/G ratio of 1.73 and a beta of 0.62. Fiesta Restaurant Group has a 52-week low of $15.50 and a 52-week high of $28.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.53 and a quick ratio of 0.49.

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About Fiesta Restaurant Group

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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