Fiesta Restaurant Group, Inc. Reports Second Quarter 2016 Results

Wedbush Cuts Price Target on Fiesta Restaurant (FRGI) to $32; Reiterates Outperform

Wedbush maintained an Outperform rating on Fiesta Restaurant Group (NASDAQ: FRGI), and cut the price target to $32.00 (from $47.00), following the company's 2Q earnings report. EPS of $0.34 was below $0.40 consensus estimate.

Analyst Nick Setyan commented, "We believe FRGIs current valuation ascribes a... More

Piper Jaffray Cuts Price Target on Fiesta Restaurant (FRGI) to $23; Reiterates Overweight

Piper Jaffray maintained an Overweight rating on Fiesta Restaurant Group (NASDAQ: FRGI), and cut the price target to $23.00 (from $36.00), following the company's 2Q earnings report. FRGI delivered operating EPS of $0.34, below consensus at $0.40. Results were driven largely by lower-than-expected same-store sales and associated deleverage.... More

Fiesta Restauran (FRGI) Misses Q2 EPS by 6c

Fiesta Restauran (NASDAQ: FRGI) reported Q2 EPS of $0.34, $0.06 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $181.5 million versus the consensus estimate of $183.55 million.

Comparable restaurant sales at Pollo Tropical decreased 1.4% and comparable guest traffic decreased 2.6%, including the impact of sales cannibalization that negatively impacted comparable restaurant transaction growth by approximately 2.0%;
Comparable restaurant sales at Taco Cabana decreased 3.8% and comparable guest traffic decreased 5.5%, including the impact of weather that negatively impacted comparable restaurant transaction growth by approximately 1.0%;

Fiesta President and Chief Executive Officer Tim Taft commented, Although... More