Franchise Group, Inc. (NASDAQ: FRG) Fourth Quarter 2021 Profit Forecast issued by B. Riley
Franchise Group, Inc. (NASDAQ: FRG) – Investment analysts at B. Riley lowered their estimates of fourth quarter 2021 EPS for Franchise Group in a research report released on Wednesday, August 4. B. Riley analyst S. Anderson now expects the company to post earnings of $ 0.54 per share for the quarter, down from its previous estimate of $ 0.76. Franchise Group (NASDAQ: FRG) last reported its quarterly results on Tuesday, August 3. The company reported earnings per share (EPS) of $ 1.16 for the quarter, beating analysts’ consensus estimates of $ 0.85 by $ 0.31. Franchise Group had a return on equity of 18.25% and a net margin of 1.57%.
A number of other brokerages have also published reports on the RFA. Zacks Investment Research downgraded Franchise Group from a “sell” rating to a “hold” rating and set a price target of $ 39.00 for the company in a report released Tuesday. TheStreet downgraded Franchise Group shares from a “d +” rating to a “c-” rating in a research note on Thursday, May 27. Aegis began covering Franchise Group shares in a research note on Wednesday, July 14. They issued a “buy” note and a price target of $ 50.00 for the company. Finally, Oppenheimer began covering Franchise Group shares in a research note on Wednesday, June 16. They issued a “buy” note and a price target of $ 50.00 for the company. Two research analysts rated the stock with a conservation rating and six issued a buy rating for the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $ 44.38.
NASDAQ FRG shares opened at $ 34.83 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.46 and a debt ratio of 2.68. The stock has a market cap of $ 1.40 billion, a price / earnings ratio of 41.46, a price / earnings-growth ratio of 0.68, and a beta of 1.99. The company has a 50-day moving average price of $ 35.59. Franchise Group has a 52-week minimum of $ 21.50 and a 52-week maximum of $ 41.50.
Hedge funds recently bought and sold shares in the company. Manatuck Hill Partners LLC increased its stake in Franchise Group shares by 101.1% during the 1st quarter. Manatuck Hill Partners LLC now owns 35,200 shares of the company valued at $ 1,271,000 after acquiring an additional 17,700 shares during the last quarter. BlackRock Inc. increased its stake in Franchise Group by 21.6% in the 1st quarter. BlackRock Inc. now owns 1,974,843 shares of the company valued at $ 71,310,000 after purchasing an additional 350,656 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Franchise Group by 15.8% in the 1st quarter. Nuveen Asset Management LLC now owns 114,186 shares of the company valued at $ 4,123,000 after purchasing an additional 15,544 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Franchise Group by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 167,577 shares of the company valued at $ 5,103,000 after purchasing an additional 2,764 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in Franchise Group in the 1st quarter valued at approximately $ 374,000. 45.65% of the shares are currently held by institutional investors and hedge funds.
In other Franchise Group news, director Patrick A. Cozza bought 4,000 shares in a trade on Wednesday, June 9. The shares were purchased at an average cost of $ 37.32 per share, for a total value of $ 149,280.00. Following the completion of the acquisition, the director now owns 26,459 shares of the company, valued at $ 987,449.88. The purchase was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. In addition, Executive Vice President Andrew M. Laurence purchased 50,000 shares in a transaction on Tuesday, June 1. The stock was acquired at an average cost of $ 36.00 per share, for a total transaction of $ 1,800,000.00. Following the completion of the acquisition, the Executive Vice President now owns 400,750 shares of the company, valued at approximately $ 14,427,000. Disclosure of this purchase can be found here. During the past three months, insiders have purchased 1,054,000 shares of the company valued at $ 37,949,280. 30.10% of the shares are held by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15. Shareholders of record on Friday October 1 will receive a dividend of $ 0.375 per share. This represents a dividend of $ 1.50 on an annualized basis and a dividend yield of 4.31%. The ex-dividend date for this dividend is Thursday, September 30. The Franchise Group’s payout rate is currently 94.94%.
Franchise Group Company Profile
Franchise Group, Inc. operates as a retailer, franchisor operator and acquirer of franchise and franchisable businesses. It operates through 4 segments: Liberty Tax, Buddy’s, Sears Outlet and Vitamin Shoppe. The company provides tax preparation services in the United States and Canada; and franchises and operates option-to-buy rental stores that rent durable goods, such as electronics, home furnishings, appliances and household accessories to customers.
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