First Watch Restaurant Group Inc (NASDAQ:FWRG) Expected to Announce Quarterly Sales of $163.16 Million

Brokerages expect First Watch Restaurant Group Inc (NASDAQ:FWRG) to announce sales of $163.16 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for First Watch Restaurant Group’s earnings, with estimates ranging from $158.87 million to $171.40 million. The business is expected to announce its next earnings results on Monday, February 14th.

On average, analysts expect that First Watch Restaurant Group will report full year sales of $601.75 million for the current fiscal year, with estimates ranging from $597.44 million to $610.00 million. For the next year, analysts forecast that the company will report sales of $681.87 million, with estimates ranging from $679.11 million to $684.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for First Watch Restaurant Group.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Monday, November 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $157.44 million during the quarter, compared to the consensus estimate of $152.27 million.

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of First Watch Restaurant Group in a research note on Tuesday, October 26th. They issued a “buy” rating and a $30.00 target price for the company. Raymond James initiated coverage on shares of First Watch Restaurant Group in a research report on Wednesday. They issued an “outperform” rating and a $24.00 price objective for the company. Citigroup initiated coverage on shares of First Watch Restaurant Group in a research report on Tuesday, October 26th. They issued a “neutral” rating and a $24.50 price objective for the company. Guggenheim initiated coverage on shares of First Watch Restaurant Group in a research report on Tuesday, October 26th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of First Watch Restaurant Group in a research report on Tuesday, October 26th. They issued a “buy” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, First Watch Restaurant Group presently has an average rating of “Buy” and an average price target of $25.00.

NASDAQ:FWRG opened at $15.53 on Friday. First Watch Restaurant Group has a 1 year low of $14.76 and a 1 year high of $25.46. The firm has a 50 day moving average price of $18.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.74.

A hedge fund recently bought a new stake in First Watch Restaurant Group stock. LGT Capital Partners LTD. bought a new stake in shares of First Watch Restaurant Group Inc (NASDAQ:FWRG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 325,470 shares of the company’s stock, valued at approximately $5,455,000. LGT Capital Partners LTD. owned about 0.55% of First Watch Restaurant Group as of its most recent filing with the SEC.

About First Watch Restaurant Group

First Watch Restaurant Group Inc is a daytime dining restaurant concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. It offers pancakes, omelets, sandwiches and salads, alongside specialty items like the Quinoa Power Bowl(R), Avocado Toast and the Chickichanga. First Watch Restaurant Group Inc is based in BRADENTON, Fla.

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Earnings History and Estimates for First Watch Restaurant Group (NASDAQ:FWRG)

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