Equities analysts expect that First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Rating) will announce $0.04 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for First Watch Restaurant Group’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.00. The firm is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that First Watch Restaurant Group will report full year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from $0.07 to $0.22. For the next fiscal year, analysts expect that the company will post earnings of $0.30 per share, with EPS estimates ranging from $0.21 to $0.38. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for First Watch Restaurant Group.
First Watch Restaurant Group (NASDAQ:FWRG – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04.
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Several equities analysts have issued reports on FWRG shares. Jefferies Financial Group decreased their price objective on shares of First Watch Restaurant Group from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, March 22nd. Citigroup assumed coverage on shares of First Watch Restaurant Group in a report on Tuesday, April 12th. They issued a “buy” rating and a $17.00 target price for the company. Cowen reduced their target price on shares of First Watch Restaurant Group from $22.00 to $15.00 and set a “market perform” rating for the company in a report on Wednesday, March 23rd. The Goldman Sachs Group reduced their target price on shares of First Watch Restaurant Group from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Finally, Zacks Investment Research cut shares of First Watch Restaurant Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.00.
In other news, CFO H Melville Hope III bought 2,000 shares of First Watch Restaurant Group stock in a transaction on Wednesday, May 18th. The stock was purchased at an average cost of $13.84 per share, with a total value of $27,680.00. Following the purchase, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at approximately $41,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its position in First Watch Restaurant Group by 27.1% during the first quarter. Neuberger Berman Group LLC now owns 1,442,843 shares of the company’s stock valued at $18,829,000 after purchasing an additional 307,925 shares in the last quarter. BlackRock Inc. bought a new stake in First Watch Restaurant Group in the fourth quarter worth approximately $19,104,000. Brown Advisory Inc. bought a new stake in First Watch Restaurant Group in the fourth quarter worth approximately $18,531,000. Kornitzer Capital Management Inc. KS bought a new stake in First Watch Restaurant Group in the fourth quarter worth approximately $11,732,000. Finally, RK Capital Management LLC lifted its stake in shares of First Watch Restaurant Group by 2.4% in the first quarter. RK Capital Management LLC now owns 529,300 shares of the company’s stock worth $6,907,000 after buying an additional 12,500 shares during the last quarter. Institutional investors and hedge funds own 97.41% of the company’s stock.
NASDAQ FWRG traded down $0.01 during trading hours on Friday, hitting $15.94. The company had a trading volume of 75,569 shares, compared to its average volume of 144,335. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 0.74. First Watch Restaurant Group has a 1-year low of $11.57 and a 1-year high of $25.46. The business has a 50 day moving average of $13.38 and a 200-day moving average of $14.97.
About First Watch Restaurant Group (Get Rating)
First Watch Restaurant Group, Inc operates and franchises restaurants under the First Watch trade name. As of March 23, 2022, it operated 341 company-owned restaurants and 94 franchised restaurants in 28 states in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019.
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