Arcos Dorados Holdings Inc. (NYSE:ARCO - Get Free Report)'s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $7.80, but opened at $8.30. Arcos Dorados shares last traded at $8.17, with a volume of 136,668 shares changing hands.
The restaurant operator reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.06. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Arcos Dorados had a net margin of 3.25% and a return on equity of 29.74%.
Arcos Dorados Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Monday, March 24th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, March 24th. This represents a $0.24 annualized dividend and a dividend yield of 3.02%. Arcos Dorados's payout ratio is 34.29%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ARCO. Spire Wealth Management boosted its position in Arcos Dorados by 27.2% in the 4th quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator's stock valued at $52,000 after buying an additional 1,540 shares during the last quarter. R Squared Ltd bought a new stake in Arcos Dorados in the fourth quarter valued at $54,000. Bank of New York Mellon Corp grew its position in Arcos Dorados by 17.5% in the 4th quarter. Bank of New York Mellon Corp now owns 12,272 shares of the restaurant operator's stock worth $89,000 after purchasing an additional 1,830 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Arcos Dorados during the 4th quarter valued at $90,000. Finally, Virtu Financial LLC bought a new position in Arcos Dorados in the 4th quarter valued at about $90,000. Institutional investors and hedge funds own 55.91% of the company's stock.
Arcos Dorados Stock Performance
The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 11.35 and a beta of 1.09. The company's 50 day simple moving average is $7.79 and its 200 day simple moving average is $8.28. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.63.
About Arcos Dorados
(
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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.
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