First Watch Restaurant Group (FWRG) to Release Quarterly Earnings on Tuesday

First Watch Restaurant Group (NASDAQ:FWRG) will post its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect First Watch Restaurant Group to post earnings of $0.10 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. During the same period in the previous year, the company posted ($0.01) earnings per share. First Watch Restaurant Group’s revenue was up 31.7% compared to the same quarter last year. On average, analysts expect First Watch Restaurant Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

First Watch Restaurant Group Stock Up 3.2 %

FWRG stock traded up $0.79 during trading on Tuesday, reaching $25.56. The stock had a trading volume of 216,850 shares, compared to its average volume of 466,559. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $23.90 and a 200 day moving average price of $20.94. The company has a market capitalization of $1.54 billion, a P/E ratio of 60.42, a PEG ratio of 2.22 and a beta of 1.12. First Watch Restaurant Group has a 1-year low of $15.67 and a 1-year high of $25.88.

Insiders Place Their Bets

In other news, insider Matthew Eisenacher sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $24.46, for a total transaction of $1,100,700.00. Following the completion of the sale, the insider now owns 36,276 shares in the company, valued at $887,310.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Matthew Eisenacher sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $24.46, for a total value of $1,100,700.00. Following the transaction, the insider now directly owns 36,276 shares in the company, valued at $887,310.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.03, for a total transaction of $36,894.22. Following the sale, the insider now directly owns 51,417 shares of the company’s stock, valued at approximately $1,286,967.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,085,127 shares of company stock valued at $170,038,222. 5.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. TD Cowen reaffirmed a “hold” rating and issued a $26.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, April 10th. Citigroup lifted their target price on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays raised their price objective on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Raymond James increased their price objective on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name 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. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.