Arcos Dorados (NYSE:ARCO – Free Report) had its price target reduced by JPMorgan Chase & Co. from $14.00 to $12.00 in a research report sent to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the restaurant operator’s stock.
Separately, StockNews.com cut shares of Arcos Dorados from a buy rating to a hold rating in a research report on Friday, May 24th.
Check Out Our Latest Stock Analysis on ARCO
Arcos Dorados Price Performance
Arcos Dorados (NYSE:ARCO – Get Free Report) last issued its earnings results on Wednesday, August 14th. The restaurant operator reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Arcos Dorados had a net margin of 3.80% and a return on equity of 36.55%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Research analysts anticipate that Arcos Dorados will post 0.73 earnings per share for the current year.
Hedge Funds Weigh In On Arcos Dorados
A number of hedge funds have recently modified their holdings of the company. Quarry LP boosted its stake in shares of Arcos Dorados by 431.0% during the 2nd quarter. Quarry LP now owns 3,239 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 2,629 shares in the last quarter. Activest Wealth Management bought a new stake in shares of Arcos Dorados during the 1st quarter valued at about $30,000. Bank of New York Mellon Corp bought a new stake in shares of Arcos Dorados during the 2nd quarter valued at about $93,000. nVerses Capital LLC bought a new stake in shares of Arcos Dorados during the 2nd quarter valued at about $105,000. Finally, Adalta Capital Management LLC bought a new stake in shares of Arcos Dorados during the 1st quarter valued at about $111,000. Hedge funds and other institutional investors own 55.91% of the company’s stock.
Arcos Dorados Company Profile
Arcos Dorados Holdings Inc operates as a franchisee of McDonald’s restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald’s restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S.
Read More
- Five stocks we like better than Arcos Dorados
- Options Trading – Understanding Strike Price
- Powering Your Portfolio: The Utility Sector’s Electrifying Surge
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Adobe Stock Builds Long-Term Value: Consider Buying on the Dip
- What does consumer price index measure?
- Albemarle Jumps as Lithium Stock Buying Frenzy Takes Off
Receive News & Ratings for Arcos Dorados Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcos Dorados and related companies with MarketBeat.com's FREE daily email newsletter.