$167.93 Million in Sales Expected for First Watch Restaurant Group, Inc. (NASDAQ:FWRG) This Quarter

Wall Street brokerages predict that First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Rating) will post $167.93 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Watch Restaurant Group’s earnings. The lowest sales estimate is $164.30 million and the highest is $170.21 million. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that First Watch Restaurant Group will report full-year sales of $697.57 million for the current financial year, with estimates ranging from $689.00 million to $704.63 million. For the next fiscal year, analysts anticipate that the firm will post sales of $816.19 million, with estimates ranging from $808.30 million to $822.89 million. Zacks’ sales averages are an average based on a survey of analysts that follow First Watch Restaurant Group.

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) last released its quarterly earnings data on Wednesday, March 23rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $162.62 million for the quarter, compared to analyst estimates of $162.42 million.

Several research analysts recently commented on FWRG shares. Citigroup upgraded shares of First Watch Restaurant Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $24.50 to $22.00 in a report on Thursday, January 27th. Cowen reduced their target price on shares of First Watch Restaurant Group from $22.00 to $15.00 and set a “market perform” rating on the stock in a report on Wednesday, March 23rd. Barclays decreased their price target on shares of First Watch Restaurant Group from $26.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 24th. Jefferies Financial Group cut their price objective on First Watch Restaurant Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 22nd. Finally, The Goldman Sachs Group decreased their target price on First Watch Restaurant Group from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $22.64.

Shares of First Watch Restaurant Group stock traded up $0.15 during trading hours on Wednesday, reaching $12.17. The stock had a trading volume of 118,245 shares, compared to its average volume of 201,212. First Watch Restaurant Group has a 1 year low of $11.57 and a 1 year high of $25.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.70 and a quick ratio of 0.66. The business’s 50 day simple moving average is $13.88.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of First Watch Restaurant Group during the fourth quarter valued at about $19,104,000. Brown Advisory Inc. purchased a new position in shares of First Watch Restaurant Group during the fourth quarter valued at $18,531,000. Kornitzer Capital Management Inc. KS purchased a new stake in First Watch Restaurant Group in the 4th quarter worth approximately $11,732,000. LGT Capital Partners LTD. acquired a new stake in First Watch Restaurant Group in the fourth quarter valued at approximately $5,455,000. Finally, Citadel Advisors LLC bought a new position in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $5,405,000. Institutional investors and hedge funds own 4.54% of the company’s stock.

First Watch Restaurant Group Company Profile (Get Rating)

First Watch Restaurant Group, Inc operates and franchises restaurants under the First Watch trade name. As of March 23, 2022, it operated 341 company-owned restaurants and 94 franchised restaurants in 28 states 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.

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

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