Fiesta Restaurant Group Inc (NASDAQ:FRGI) Forecasted to Earn Q3 2019 Earnings of $0.23 Per Share

Fiesta Restaurant Group Inc (NASDAQ:FRGI) – Equities researchers at Wedbush dropped their Q3 2019 earnings per share estimates for Fiesta Restaurant Group in a report released on Tuesday, August 7th, Zacks Investment Research reports. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.24. Wedbush has a “Outperform” rating and a $33.00 price target on the stock. Wedbush also issued estimates for Fiesta Restaurant Group’s FY2019 earnings at $1.07 EPS.

Fiesta Restaurant Group (NASDAQ:FRGI) last issued its quarterly earnings results on Monday, August 6th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The firm had revenue of $176.83 million for the quarter, compared to analysts’ expectations of $173.21 million. Fiesta Restaurant Group had a positive return on equity of 5.35% and a negative net margin of 0.80%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Fiesta Restaurant Group from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, August 8th. BidaskClub cut Fiesta Restaurant Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. ValuEngine upgraded Fiesta Restaurant Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, TheStreet upgraded Fiesta Restaurant Group from a “d+” rating to a “c” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $25.75.

NASDAQ FRGI traded up $0.25 on Wednesday, hitting $28.75. 115,400 shares of the company’s stock were exchanged, compared to its average volume of 265,308. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30. Fiesta Restaurant Group has a fifty-two week low of $15.50 and a fifty-two week high of $30.88. The stock has a market capitalization of $768.90 million, a price-to-earnings ratio of 47.75 and a beta of 0.54.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in shares of Fiesta Restaurant Group by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 320,717 shares of the restaurant operator’s stock worth $9,204,000 after acquiring an additional 16,517 shares during the period. Millennium Management LLC acquired a new stake in shares of Fiesta Restaurant Group in the 2nd quarter worth approximately $2,496,000. ClariVest Asset Management LLC acquired a new stake in shares of Fiesta Restaurant Group in the 2nd quarter worth approximately $345,000. Dimensional Fund Advisors LP grew its holdings in shares of Fiesta Restaurant Group by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,584,019 shares of the restaurant operator’s stock worth $45,462,000 after acquiring an additional 13,840 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Fiesta Restaurant Group by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 60,878 shares of the restaurant operator’s stock worth $1,754,000 after acquiring an additional 2,478 shares during the period. Institutional investors own 99.11% of the company’s stock.

About Fiesta Restaurant Group

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

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