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

First Watch Restaurant Group (NASDAQ:FWRG) is scheduled to be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect First Watch Restaurant Group to post earnings of $0.10 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

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

Shares of FWRG stock traded up $0.79 during trading hours on Tuesday, reaching $25.56. 216,850 shares of the company’s stock were exchanged, compared to its average volume of 466,559. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. First Watch Restaurant Group has a 1 year low of $15.67 and a 1 year high of $25.88. The company has a market cap of $1.54 billion, a P/E ratio of 60.42, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company’s 50 day moving average is $23.90 and its two-hundred day moving average is $20.94.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays raised their target price 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. TD Cowen restated a “hold” rating and set a $26.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, April 10th. Stifel Nicolaus increased their target price on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Citigroup boosted their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Raymond James raised their price objective 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. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.00.

Insider Buying and Selling

In related news, CEO Christopher Anthony Tomasso sold 121,995 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total value of $2,982,777.75. Following the completion of the transaction, the chief executive officer now owns 431,871 shares of the company’s stock, valued at approximately $10,559,245.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Watch Restaurant Group news, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction that occurred 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 filing with the SEC, which is available at this link. Also, CEO Christopher Anthony Tomasso sold 121,995 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.45, for a total transaction of $2,982,777.75. Following the sale, the chief executive officer now directly owns 431,871 shares of the company’s stock, valued at $10,559,245.95. The disclosure for this sale can be found here. Insiders sold 7,085,127 shares of company stock worth $170,038,222 in the last ninety days. Insiders own 5.00% of the company’s stock.

About First Watch Restaurant Group

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.