Del Taco Restaurants Inc. (TACO) Releases FY16 Earnings Guidance
Del Taco Restaurants Inc. (NASDAQ:TACO) issued an update on its FY16 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.53-0.56 for the period, compared to the Thomson Reuters consensus estimate of $0.55. The company issued revenue guidance of $446-449 million, compared to the consensus revenue estimate of $446.83 million.
Shares of Del Taco Restaurants Inc. (NASDAQ:TACO) traded up 4.21% on Monday, reaching $12.63. 1,166,529 shares of the company traded hands. The stock has a market capitalization of $479.64 million, a price-to-earnings ratio of 31.19 and a beta of -0.01. The company has a 50-day moving average of $11.54 and a 200-day moving average of $10.15. Del Taco Restaurants Inc. has a 1-year low of $8.37 and a 1-year high of $14.56.
Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings results on Monday, October 17th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The business earned $104.42 million during the quarter, compared to analysts’ expectations of $101.61 million. Del Taco Restaurants had a net margin of 2.56% and a return on equity of 2.87%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Analysts anticipate that Del Taco Restaurants Inc. will post $0.55 earnings per share for the current fiscal year.
A number of research firms have issued reports on TACO. Wedbush reaffirmed an outperform rating and issued a $15.00 price target on shares of Del Taco Restaurants in a report on Saturday. Citigroup Inc. raised their price target on shares of Del Taco Restaurants from $12.00 to $13.00 and gave the stock a buy rating in a report on Tuesday, September 13th. Zacks Investment Research raised shares of Del Taco Restaurants from a hold rating to a buy rating and set a $12.00 price target for the company in a report on Saturday, July 23rd. Finally, Jefferies Group reaffirmed a buy rating and issued a $14.00 price target (down previously from $16.00) on shares of Del Taco Restaurants in a report on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $13.50.
In related news, SVP David Pear sold 6,000 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $10.55, for a total transaction of $63,300.00. Following the completion of the transaction, the senior vice president now owns 125,080 shares of the company’s stock, valued at $1,319,594. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 36.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC purchased a new stake in Del Taco Restaurants during the second quarter valued at approximately $110,000. State Street Corp raised its stake in Del Taco Restaurants by 667.7% in the second quarter. State Street Corp now owns 249,822 shares of the company’s stock valued at $2,274,000 after buying an additional 217,279 shares in the last quarter. Keeley Asset Management Corp raised its stake in Del Taco Restaurants by 22.3% in the second quarter. Keeley Asset Management Corp now owns 825,467 shares of the company’s stock valued at $7,512,000 after buying an additional 150,737 shares in the last quarter. Rhumbline Advisers purchased a new stake in Del Taco Restaurants during the second quarter valued at approximately $196,000. Finally, Teachers Advisors Inc. purchased a new stake in Del Taco Restaurants during the second quarter valued at approximately $328,000. Institutional investors own 63.12% of the company’s stock.
Del Taco Restaurants Company Profile
Del Taco Restaurants, Inc, formerly Levy Acquisition Corporation, is an operator and franchisor of restaurants featuring fresh and fast made-to-order cuisine, including both Mexican inspired and American classic dishes. The Company operates Del Taco restaurants in approximately 20 states, including over one franchised restaurant in Guam.
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