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

First Watch Restaurant Group (NASDAQ:FWRG) is set to issue its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. First Watch Restaurant Group has set its FY 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The company had revenue of $258.60 million during the quarter, compared to analysts’ expectations of $257.65 million. During the same period last year, the business posted $0.13 EPS. First Watch Restaurant Group’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 Stock Performance

Shares of First Watch Restaurant Group stock opened at $16.83 on Thursday. The business has a 50-day moving average of $15.71 and a 200 day moving average of $17.57. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 43.15, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.52.

Analyst Upgrades and Downgrades

FWRG has been the subject of several recent research reports. Stephens initiated coverage on First Watch Restaurant Group in a research note on Thursday, October 17th. They issued an “overweight” rating and a $20.00 price objective for the company. Guggenheim decreased their price objective on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Bank of America decreased their price objective on First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Benchmark reiterated a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Finally, TD Cowen reiterated a “hold” rating and issued a $18.00 price objective on shares of First Watch Restaurant Group in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.