Arcos Dorados (NYSE:ARCO) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Arcos Dorados (NYSE:ARCO) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Arcos Dorados Trading Down 1.4 %

ARCO stock opened at $8.14 on Wednesday. Arcos Dorados has a 12-month low of $7.02 and a 12-month high of $11.49. The business’s 50-day moving average is $7.97 and its 200 day moving average is $8.24. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 11.62 and a beta of 1.09.

Arcos Dorados (NYSE:ARCO) last issued its quarterly earnings results on Wednesday, March 12th. The restaurant operator reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. Arcos Dorados had a return on equity of 29.74% and a net margin of 3.25%. On average, sell-side analysts anticipate that Arcos Dorados will post 0.63 EPS for the current fiscal year.

Arcos Dorados Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 22nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.95%. Arcos Dorados’s payout ratio is presently 33.33%.

Institutional Trading of Arcos Dorados

A number of hedge funds have recently bought and sold shares of the business. Spire Wealth Management boosted its holdings in shares of Arcos Dorados by 27.2% during the 4th quarter. Spire Wealth Management now owns 7,210 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 1,540 shares during the last quarter. R Squared Ltd acquired a new position in Arcos Dorados during the fourth quarter worth $54,000. Bank of New York Mellon Corp increased its stake in shares of 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 acquiring an additional 1,830 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Arcos Dorados during the 4th quarter worth $90,000. Finally, Virtu Financial LLC acquired a new position in shares of Arcos Dorados during the 4th quarter valued at about $90,000. Institutional investors and hedge funds 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.