Fiesta Restaurant Group (NASDAQ:FRGI) Announces Earnings Results, Misses Estimates By $0.02 EPS

Fiesta Restaurant Group (NASDAQ:FRGI) posted its earnings results on Monday, May 6th. The restaurant operator reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02), Briefing.com reports. The business had revenue of $165.85 million for the quarter, compared to analysts’ expectations of $163.15 million. Fiesta Restaurant Group had a return on equity of 6.55% and a net margin of 0.86%. Fiesta Restaurant Group’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share.

Shares of Fiesta Restaurant Group stock traded up $0.31 during midday trading on Thursday, hitting $14.00. The company had a trading volume of 362,600 shares, compared to its average volume of 235,683. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $381.59 million, a P/E ratio of 23.33 and a beta of 0.21. Fiesta Restaurant Group has a 52-week low of $12.27 and a 52-week high of $30.88.

A number of research firms have commented on FRGI. Zacks Investment Research raised Fiesta Restaurant Group from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Tuesday, April 30th. TheStreet lowered Fiesta Restaurant Group from a “c-” rating to a “d” rating in a research report on Monday, February 25th. ValuEngine raised Fiesta Restaurant Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Stephens decreased their target price on Fiesta Restaurant Group from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, February 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.67.

In other news, major shareholder Jefferies Financial Group Inc. purchased 167,809 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average cost of $13.03 per share, for a total transaction of $2,186,551.27. Following the purchase, the insider now directly owns 3,954,430 shares in the company, valued at approximately $51,526,222.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard C. Stockinger purchased 3,290 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $15.25 per share, for a total transaction of $50,172.50. Following the completion of the purchase, the chief executive officer now owns 88,190 shares in the company, valued at $1,344,897.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,488,108 shares of company stock worth $20,399,212. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Fiesta Restaurant Group by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 190,310 shares of the restaurant operator’s stock valued at $2,952,000 after acquiring an additional 976 shares during the period. Arizona State Retirement System increased its holdings in shares of Fiesta Restaurant Group by 6.1% in the fourth quarter. Arizona State Retirement System now owns 36,099 shares of the restaurant operator’s stock worth $560,000 after purchasing an additional 2,083 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Fiesta Restaurant Group by 440.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,700 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 2,200 shares during the last quarter. Laurion Capital Management LP increased its holdings in shares of Fiesta Restaurant Group by 14.9% in the first quarter. Laurion Capital Management LP now owns 20,798 shares of the restaurant operator’s stock worth $273,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Stone Ridge Asset Management LLC increased its holdings in shares of Fiesta Restaurant Group by 20.2% in the fourth quarter. Stone Ridge Asset Management LLC now owns 18,264 shares of the restaurant operator’s stock worth $283,000 after purchasing an additional 3,074 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.

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Fiesta Restaurant Group Company Profile

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

Further Reading: Diversification in Your Portfolio

Earnings History for Fiesta Restaurant Group (NASDAQ:FRGI)

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