Fiesta Restaurant Group, Inc. (FRGI) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Fiesta Restaurant Group, Inc. (NASDAQ:FRGI) released its earnings results on Monday, August 7th. The restaurant operator reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03, Briefing.com reports. Fiesta Restaurant Group had a positive return on equity of 11.77% and a negative net margin of 2.75%. The firm had revenue of $172.62 million for the quarter, compared to the consensus estimate of $178.19 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis.

Fiesta Restaurant Group (FRGI) traded down 2.20% during trading on Friday, reaching $17.80. The company’s stock had a trading volume of 294,352 shares. The company’s market cap is $477.66 million. Fiesta Restaurant Group has a 52 week low of $15.60 and a 52 week high of $30.65. The company’s 50 day moving average price is $18.37 and its 200 day moving average price is $22.13.

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Several analysts recently issued reports on FRGI shares. Zacks Investment Research upgraded Fiesta Restaurant Group from a “sell” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, May 2nd. BidaskClub cut Fiesta Restaurant Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Wedbush reiterated a “buy” rating and set a $28.00 price target on shares of Fiesta Restaurant Group in a research report on Tuesday, May 9th. Canaccord Genuity reissued a “hold” rating and set a $25.00 price objective on shares of Fiesta Restaurant Group in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $25.00 price objective on shares of Fiesta Restaurant Group in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $24.83.

In other Fiesta Restaurant Group news, CEO Richard C. Stockinger acquired 2,750 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $18.30 per share, with a total value of $50,325.00. Following the purchase, the chief executive officer now owns 81,985 shares of the company’s stock, valued at $1,500,325.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Alperin acquired 2,300 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was acquired at an average cost of $21.17 per share, with a total value of $48,691.00. Following the purchase, the director now directly owns 19,166 shares in the company, valued at approximately $405,744.22. The disclosure for this purchase can be found here. Insiders bought a total of 717,165 shares of company stock worth $14,143,135 in the last three months. Insiders own 2.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. boosted its stake in shares of Fiesta Restaurant Group by 11.5% in the second quarter. Wasatch Advisors Inc. now owns 3,572,879 shares of the restaurant operator’s stock worth $73,780,000 after buying an additional 368,346 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Fiesta Restaurant Group by 29.7% in the second quarter. Public Employees Retirement System of Ohio now owns 88,090 shares of the restaurant operator’s stock valued at $1,819,000 after buying an additional 20,148 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Fiesta Restaurant Group during the second quarter valued at $217,000. State Street Corp boosted its stake in shares of Fiesta Restaurant Group by 4.8% in the second quarter. State Street Corp now owns 619,008 shares of the restaurant operator’s stock valued at $12,777,000 after buying an additional 28,557 shares during the last quarter. Finally, Western Standard LLC boosted its stake in shares of Fiesta Restaurant Group by 151.7% in the second quarter. Western Standard LLC now owns 193,306 shares of the restaurant operator’s stock valued at $3,992,000 after buying an additional 116,518 shares during the last quarter. 91.67% of the stock is owned by institutional investors.

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).

Earnings History for Fiesta Restaurant Group (NASDAQ:FRGI)

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