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

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) will post its quarterly earnings results before the market opens on Tuesday, May 10th. Analysts expect First Watch Restaurant Group to post earnings of $0.04 per share for the quarter. First Watch Restaurant Group has set its FY 2022 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) last posted its earnings results on Wednesday, March 23rd. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $162.62 million for the quarter, compared to analysts’ expectations of $162.42 million. On average, analysts expect First Watch Restaurant Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

FWRG opened at $13.39 on Tuesday. The business’s fifty day moving average price is $12.94. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. First Watch Restaurant Group has a one year low of $11.57 and a one year high of $25.46.

Several analysts have recently issued reports on the company. Barclays reduced their price objective on First Watch Restaurant Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Jefferies Financial Group reduced 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. Citigroup assumed coverage on First Watch Restaurant Group in a research report on Tuesday, April 12th. They issued a “buy” rating and a $17.00 price objective on the stock. Raymond James assumed coverage on First Watch Restaurant Group in a research report on Wednesday, January 12th. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, Cowen reduced their price objective on First Watch Restaurant Group from $22.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.00.

Several hedge funds and other institutional investors have recently made changes to their positions in FWRG. BlackRock Inc. acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at approximately $19,104,000. Citadel Advisors LLC acquired a new position in shares of First Watch Restaurant Group in the 4th quarter worth $5,405,000. Geode Capital Management LLC acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth $3,209,000. State Street Corp acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth $1,894,000. Finally, Millennium Management LLC acquired a new stake in First Watch Restaurant Group during the fourth quarter valued at $1,686,000. 97.41% of the stock is currently owned by institutional investors and hedge funds.

About First Watch Restaurant Group (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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