Arcos Dorados Holdings Inc. (ARCO) Issues Earnings Results
Arcos Dorados Holdings Inc. (NYSE:ARCO) announced its earnings results on Wednesday. The restaurant operator reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.12, MarketWatch Earnings reports. Arcos Dorados Holdings had a return on equity of 28.58% and a net margin of 3.39%.
Shares of Arcos Dorados Holdings (NYSE ARCO) opened at 8.95 on Thursday. Arcos Dorados Holdings has a 52 week low of $4.56 and a 52 week high of $9.53. The stock’s 50 day moving average price is $8.31 and its 200-day moving average price is $7.72. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 18.65 and a beta of 2.16.
Large investors have recently modified their holdings of the company. Legato Capital Management LLC acquired a new stake in shares of Arcos Dorados Holdings during the first quarter valued at $1,032,742,000. Teachers Advisors LLC raised its position in Arcos Dorados Holdings by 35.0% in the first quarter. Teachers Advisors LLC now owns 8,219,426 shares of the restaurant operator’s stock valued at $66,166,000 after buying an additional 2,128,725 shares during the period. Norges Bank purchased a new position in Arcos Dorados Holdings during the fourth quarter valued at approximately $8,304,000. Acadian Asset Management LLC raised its position in Arcos Dorados Holdings by 38.9% in the second quarter. Acadian Asset Management LLC now owns 4,800,113 shares of the restaurant operator’s stock valued at $35,761,000 after buying an additional 1,344,088 shares during the period. Finally, Glen Point Capital LLP purchased a new position in Arcos Dorados Holdings during the second quarter valued at approximately $6,164,000. 41.69% of the stock is currently owned by institutional investors and hedge funds.
ARCO has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Arcos Dorados Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. ValuEngine upgraded Arcos Dorados Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Finally, BidaskClub upgraded Arcos Dorados Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $8.83.
About Arcos Dorados Holdings
Arcos Dorados Holdings Inc is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay.
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