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

First Watch Restaurant Group (NASDAQ:FWRG) will be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The firm had revenue of $244.60 million for the quarter, compared to analyst estimates of $237.20 million. During the same quarter last year, the company earned ($0.01) EPS. The company’s revenue was up 31.7% on a year-over-year basis. 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 Price Performance

First Watch Restaurant Group stock opened at $25.05 on Friday. The stock’s fifty day moving average price is $24.00 and its two-hundred day moving average price is $21.12. First Watch Restaurant Group has a one year low of $15.67 and a one year high of $25.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. The firm has a market cap of $1.51 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 2.37 and a beta of 1.07.

Wall Street Analyst Weigh In

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

Insider Transactions at First Watch Restaurant Group

In related news, insider Eric Richard Hartman sold 1,474 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total transaction of $36,894.22. Following the transaction, the insider now directly owns 51,417 shares of the company’s stock, valued at $1,286,967.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Matthew Eisenacher sold 45,000 shares of the stock in a transaction on Monday, March 11th. The stock was 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 approximately $887,310.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Richard Hartman sold 1,474 shares of the company’s 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 transaction, the insider now owns 51,417 shares in the company, valued at approximately $1,286,967.51. The disclosure for this sale can be found here. Insiders sold a total of 7,085,127 shares of company stock valued at $170,038,222 in the last quarter. 5.00% of the stock is currently owned by company insiders.

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.