Oppenheimer weighs on Franchise Group, Inc.’s earnings for fiscal 2021 (NASDAQ: FRG)
Franchise Group, Inc. (NASDAQ: FRG) – Oppenheimer analysts raised their earnings per share (EPS) estimate for fiscal 2021 for Franchise Group shares in a note to investors on Wednesday, June 16. Oppenheimer analyst I. Zaffino now expects the company to post earnings of $ 3.35 per share for the year, up from its previous estimate of $ 3.33. Oppenheimer has a “Buy” rating and a target price of $ 50.00 on the stock.
RFA has been the subject of a number of other research reports. TheStreet upgraded Franchise Group shares from a âd +â rating to a âc-â rating in a research report released on Thursday, May 27. B. Riley increased his target price on Franchise Group from $ 38.00 to $ 46.00 and gave the stock a “buy” rating in a research report on Thursday, March 11. Zacks Investment Research downgraded the franchise group from a âbuyâ rating to a âkeepâ rating in a report released on Monday, May 31. DA Davidson increased its price target on Franchise Group from $ 40.00 to $ 49.00 and gave the company a “buy” rating in a research report on Thursday, March 11. Finally, Barrington Research increased its price target for Franchise Group shares from $ 40.00 to $ 48.00 and gave the stock an “outperformance” rating in a research report on Thursday, March 11. They noted that the move was an appraisal call. Two investment analysts rated the stock with a conservation rating and five issued a buy rating for the company. Franchise Group currently has a consensus rating of “Buy” and an average target price of $ 43.71.
FRG stock opened at $ 36.69 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.46 and a debt ratio of 2.68. Franchise Group has a one-year minimum of $ 17.73 and a one-year maximum of $ 41.50. The company has a 50-day simple moving average of $ 36.92. The company has a market cap of $ 1.47 billion, a P / E ratio of -54.76, a price / earnings-growth ratio of 0.72, and a beta of 1.99. Franchise Group (NASDAQ: FRG) last released its quarterly results on Thursday, May 6. The company reported earnings per share (EPS) of $ 0.90 for the quarter, beating the consensus estimate of $ 0.87 by $ 0.03 by the Zacks. Franchise Group recorded a positive return on equity of 11.75% and a negative net margin of 0.95%. The company posted revenue of $ 621.35 million in the quarter, compared to analysts’ estimates of $ 709.82 million. The company’s turnover increased 23.5% compared to the same quarter last year.
Hedge funds recently changed their holdings in the company. BlackRock Inc. increased its stake in Franchise Group shares by 21.6% during the first quarter. BlackRock Inc. now owns 1,974,843 shares of the company valued at $ 71,310,000 after purchasing an additional 350,656 shares during the period. Hood River Capital Management LLC increased its position in Franchise Group shares by 2.1% in the 4th quarter. Hood River Capital Management LLC now owns 1,394,429 shares of the company valued at $ 42,460,000 after purchasing an additional 28,838 shares during the period. Wells Fargo & Company MN increased its stake in Franchise Group shares by 4.2% during the fourth quarter. Wells Fargo & Company MN now owns 915,515 shares of the company valued at $ 27,877,000 after purchasing an additional 37,228 shares in the last quarter. Cannell Capital LLC increased its stake in Franchise Group by 22.1% during the first quarter. Cannell Capital LLC now owns 848,267 shares of the company valued at $ 30,631,000 after purchasing an additional 153,771 shares during the period. Finally, Ophir Asset Management Pty Ltd increased its stake in Franchise Group by 15.9% during the first quarter. Ophir Asset Management Pty Ltd now owns 800,603 shares of the company valued at $ 28,229,000 after purchasing an additional 109,964 shares during the period. Institutional investors and hedge funds hold 45.65% of the company’s shares.
In related news, Executive Vice President Andrew M. Laurence bought 50,000 shares of Franchise Group in a transaction dated Tuesday, June 1. The shares were acquired at an average cost of $ 36.00 per share, for a total value of $ 1,800,000.00. After the transaction closes, the Executive Vice President now owns 400,750 shares of the company, valued at approximately $ 14,427,000. The purchase was disclosed in a file with the SEC, accessible through this link. In addition, director Patrick A. Cozza bought 4,000 shares of the company in a transaction dated Wednesday, June 9. The shares were purchased at an average cost of $ 37.32 per share, for a total value of $ 149,280.00. As a result of the purchase, the director now directly owns 26,459 shares of the company, valued at approximately $ 987,449.88. Disclosure of this purchase can be found here. During the past ninety days, 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 announced a quarterly dividend, which will be paid on Thursday, July 15. Shareholders of record on Thursday, July 1 will receive a dividend of $ 0.375. This represents an annualized dividend of $ 1.50 and a dividend yield of 4.09%. The ex-dividend date for this dividend is Wednesday June 30. The Franchise Group’s dividend payout rate is currently 94.94%.
About the franchise group
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-purchase rental stores that rent durable goods to customers, such as electronics, home furnishings, appliances and household accessories.
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