First Watch Restaurant Group (FWRG) to Release Earnings on Thursday

First Watch Restaurant Group (NASDAQ:FWRG) will be posting its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect First Watch Restaurant Group to post earnings of $0.05 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $258.60 million during the quarter, compared to analyst estimates of $257.65 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. 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.

First Watch Restaurant Group Price Performance

NASDAQ FWRG traded up $0.15 during trading hours on Tuesday, hitting $17.36. The company had a trading volume of 56,076 shares, compared to its average volume of 571,698. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 44.13, a PEG ratio of 4.70 and a beta of 0.85. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $25.98. The firm has a 50 day simple moving average of $15.71 and a 200 day simple moving average of $17.46.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FWRG. Bank of America cut their price objective on First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. TD Cowen reissued a “hold” rating and issued a $18.00 price target on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Guggenheim cut their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Stephens began coverage on First Watch Restaurant Group in a research report on Thursday, October 17th. They set an “overweight” rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

First Watch Restaurant Group Company Profile

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.