Del Taco Restaurants Inc (TACO) Expected to Post Quarterly Sales of $114.59 Million

Wall Street analysts forecast that Del Taco Restaurants Inc (NASDAQ:TACO) will announce $114.59 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Del Taco Restaurants’ earnings, with the lowest sales estimate coming in at $113.77 million and the highest estimate coming in at $115.60 million. Del Taco Restaurants posted sales of $112.55 million in the same quarter last year, which suggests a positive year over year growth rate of 1.8%. The company is scheduled to report its next quarterly earnings results on Thursday, May 2nd.

On average, analysts expect that Del Taco Restaurants will report full-year sales of $520.54 million for the current financial year, with estimates ranging from $518.50 million to $522.62 million. For the next fiscal year, analysts forecast that the firm will post sales of $534.54 million, with estimates ranging from $517.00 million to $543.73 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Del Taco Restaurants.

Del Taco Restaurants (NASDAQ:TACO) last issued its quarterly earnings results on Monday, March 18th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Del Taco Restaurants had a return on equity of 5.12% and a net margin of 3.75%. The business had revenue of $157.30 million during the quarter, compared to analysts’ expectations of $157.01 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis.

A number of equities research analysts have issued reports on TACO shares. Zacks Investment Research lowered Del Taco Restaurants from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. BidaskClub upgraded Del Taco Restaurants from a “hold” rating to a “buy” rating in a research note on Thursday, December 27th. Maxim Group reiterated a “buy” rating on shares of Del Taco Restaurants in a research note on Wednesday, January 9th. ValuEngine upgraded Del Taco Restaurants from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of Del Taco Restaurants in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Del Taco Restaurants presently has an average rating of “Hold” and an average price target of $14.29.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TACO. Rothschild & Co. Asset Management US Inc. bought a new position in shares of Del Taco Restaurants during the 3rd quarter valued at about $6,847,000. Boston Partners boosted its holdings in shares of Del Taco Restaurants by 138.3% during the 4th quarter. Boston Partners now owns 727,860 shares of the restaurant operator’s stock valued at $7,271,000 after purchasing an additional 422,453 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Del Taco Restaurants during the 4th quarter valued at about $2,556,000. Renaissance Technologies LLC boosted its holdings in shares of Del Taco Restaurants by 11.4% during the 3rd quarter. Renaissance Technologies LLC now owns 771,700 shares of the restaurant operator’s stock valued at $9,114,000 after purchasing an additional 79,200 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its holdings in shares of Del Taco Restaurants by 17.8% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 517,656 shares of the restaurant operator’s stock valued at $5,171,000 after purchasing an additional 78,170 shares during the last quarter. 81.97% of the stock is owned by institutional investors and hedge funds.

Shares of TACO stock opened at $10.06 on Friday. Del Taco Restaurants has a 52-week low of $9.45 and a 52-week high of $14.83. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $376.78 million, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.20.

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 and Estimates for Del Taco Restaurants (NASDAQ:TACO)

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