First Watch Restaurant Group (NASDAQ:FWRG) Issues Quarterly Earnings Results

Key Points

• First Watch Restaurant Group reported earnings of $0.03 per share for the quarter, missing analysts' expectations by $0.06.
• The company experienced a 19.1% year-over-year revenue increase but reported a net margin of only 1.03%.
• Analysts maintain a consensus rating of "Buy" with a target price of $20.82 for First Watch Restaurant Group's stock.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04), Zacks reports. First Watch Restaurant Group had a net margin of 1.03% and a return on equity of 1.84%. The business had revenue of $307.89 million during the quarter, compared to analyst estimates of $304.94 million. During the same period last year, the firm posted $0.14 earnings per share. First Watch Restaurant Group's quarterly revenue was up 19.1% compared to the same quarter last year. First Watch Restaurant Group updated its FY 2025 guidance to EPS.

First Watch Restaurant Group Price Performance

NASDAQ FWRG traded up $0.61 during trading hours on Tuesday, hitting $17.85. The company had a trading volume of 2,625,479 shares, compared to its average volume of 807,132. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $22.71. The firm has a 50 day simple moving average of $16.44 and a 200 day simple moving average of $17.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.27 and a current ratio of 0.31. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 105.00, a PEG ratio of 4.73 and a beta of 0.91.

Insider Buying and Selling

In other news, major shareholder International L.P. Advent sold 4,500,000 shares of First Watch Restaurant Group stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $14.70, for a total transaction of $66,150,000.00. Following the completion of the sale, the insider owned 14,689,784 shares in the company, valued at approximately $215,939,824.80. This trade represents a 23.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.00% of the stock is currently owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

An institutional investor recently raised its position in First Watch Restaurant Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 31.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,766 shares of the company's stock after buying an additional 5,497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in First Watch Restaurant Group were worth $379,000 as of its most recent SEC filing. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FWRG. TD Cowen upped their target price on First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Guggenheim lowered their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Piper Sandler lowered their target price on First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Barclays upped their target price on First Watch Restaurant Group from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Bank of America lowered their target price on First Watch Restaurant Group from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of "Buy" and a consensus price target of $20.82.

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.