Zacks: Analysts Expect Del Taco Restaurants, Inc. (TACO) Will Post Quarterly Sales of $147.50 Million
Equities research analysts expect that Del Taco Restaurants, Inc. (NASDAQ:TACO) will post $147.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Del Taco Restaurants’ earnings, with the lowest sales estimate coming in at $146.40 million and the highest estimate coming in at $148.60 million. Del Taco Restaurants reported sales of $150.24 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.8%. The business is scheduled to announce its next earnings report on Monday, March 12th.
On average, analysts expect that Del Taco Restaurants will report full-year sales of $147.50 million for the current financial year, with estimates ranging from $471.40 million to $473.70 million. For the next financial year, analysts anticipate that the company will post sales of $503.36 million per share, with estimates ranging from $499.20 million to $507.52 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Del Taco Restaurants.
Del Taco Restaurants (NASDAQ:TACO) last issued its earnings results on Thursday, October 19th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. Del Taco Restaurants had a net margin of 4.78% and a return on equity of 5.89%. The business had revenue of $110.99 million for the quarter, compared to the consensus estimate of $110.46 million. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Wedbush restated a “buy” rating and issued a $17.00 price target on shares of Del Taco Restaurants in a research note on Friday, October 20th. Maxim Group restated a “buy” rating and issued a $19.00 price target on shares of Del Taco Restaurants in a research note on Friday, October 20th. BTIG Research decreased their price target on shares of Del Taco Restaurants from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $16.00 price target on shares of Del Taco Restaurants in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Del Taco Restaurants has a consensus rating of “Hold” and an average price target of $16.67.
Del Taco Restaurants (NASDAQ:TACO) traded down $0.15 during trading hours on Wednesday, hitting $12.10. 116,075 shares of the company’s stock traded hands, compared to its average volume of 744,653. Del Taco Restaurants has a 12-month low of $11.58 and a 12-month high of $15.99. The firm has a market capitalization of $482.69, a P/E ratio of 22.69, a P/E/G ratio of 1.39 and a beta of -0.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.24 and a current ratio of 0.29.
In other news, Director Lawrence F. Levy acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was acquired at an average price of $12.54 per share, with a total value of $2,508,000.00. Following the completion of the transaction, the director now directly owns 18,356 shares of the company’s stock, valued at approximately $230,184.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Del Taco Restaurants in the third quarter worth about $131,000. Bank of Montreal Can lifted its holdings in shares of Del Taco Restaurants by 5,995.7% in the second quarter. Bank of Montreal Can now owns 9,814 shares of the restaurant operator’s stock worth $135,000 after acquiring an additional 9,653 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Del Taco Restaurants in the second quarter worth about $165,000. American International Group Inc. increased its stake in shares of Del Taco Restaurants by 7.0% in the first quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock valued at $189,000 after buying an additional 927 shares during the period. Finally, Martingale Asset Management L P acquired a new position in shares of Del Taco Restaurants in the second quarter valued at approximately $200,000. 70.18% of the stock is owned by hedge funds and other institutional investors.
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About Del Taco Restaurants
Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.
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