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

First Watch Restaurant Group (NASDAQ:FWRG) is scheduled to release its earnings data 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. Parties that wish to listen to the company’s conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. 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 Trading Down 0.9 %

FWRG opened at $25.05 on Monday. First Watch Restaurant Group has a 12 month low of $15.67 and a 12 month high of $25.98. The stock has a fifty day moving average price of $24.00 and a 200-day moving average price of $21.15. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 61.10, a PEG ratio of 2.35 and a beta of 1.07. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21.

Insider Activity

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 121,995 shares of First Watch Restaurant Group stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total transaction of $2,982,777.75. Following the completion of the sale, the chief executive officer now directly owns 431,871 shares in the company, valued at approximately $10,559,245.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Tricia Glynn sold 6,900,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $23.99, for a total transaction of $165,531,000.00. Following the sale, the director now directly owns 27,189,784 shares of the company’s stock, valued at $652,282,918.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Anthony Tomasso sold 121,995 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total value of $2,982,777.75. Following the sale, the chief executive officer now owns 431,871 shares in the company, valued at $10,559,245.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,085,127 shares of company stock valued at $170,038,222. Company insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

FWRG has been the subject of several analyst reports. TD Cowen reissued a “hold” rating and set a $26.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, April 10th. Barclays raised their target price on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Stifel Nicolaus upped their price target 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. Citigroup raised their price objective 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. Finally, Raymond James upped their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

First Watch Restaurant Group Company Profile

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.