First Watch Restaurant Group (NASDAQ:FWRG) Releases Earnings Results, Misses Expectations By $0.01 EPS

First Watch Restaurant Group (NASDAQ:FWRG) released its earnings results on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01), Zacks reports. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock opened at $18.10 on Tuesday. The company’s 50 day moving average price is $19.95 and its two-hundred day moving average price is $18.14. The firm has a market capitalization of $1.10 billion, a P/E ratio of 54.85, a P/E/G ratio of 3.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $25.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stephens reiterated an “overweight” rating and set a $25.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday. Piper Sandler increased their price target on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and an average price target of $22.33.

About First Watch Restaurant Group

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.