First Watch Restaurant Group (FWRG) Set to Announce Earnings on Thursday

by · The Markets Daily

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) will release its earnings data before the market opens on Thursday, November 7th. Analysts expect First Watch Restaurant Group to post earnings of $0.05 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $258.60 million during the quarter, compared to the consensus estimate of $257.65 million. First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. On average, analysts expect First Watch Restaurant Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock traded up $0.15 on Tuesday, reaching $17.36. The stock had a trading volume of 56,076 shares, compared to its average volume of 571,698. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 44.13, a P/E/G ratio of 4.70 and a beta of 0.85. The firm’s 50-day moving average is $15.71 and its two-hundred day moving average is $17.46.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America decreased their target price on First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Guggenheim cut their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Stephens initiated coverage on shares of First Watch Restaurant Group in a research note on Thursday, October 17th. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, TD Cowen restated a “hold” rating and set a $18.00 price objective on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

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About First Watch Restaurant Group

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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.

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