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DFRG

Del Frisco's

$6.64

-0.01 (-0.15%)

07:12
05/07/19
05/07
07:12
05/07/19
07:12

Del Frisco's sees FY19 total comparable restaurant sales flat to up 1.5%

For the 53-week fiscal year 2019, which ends on December 31, 2019, the company sees: Seven to eight restaurant openings, consisting of one Del Frisco's Double Eagle Steakhouse, two to three Barcelona Wine Bars, and three to four bartaco restaurants. Six restaurants have already opened year-to-date. Restaurant-level EBITDA of 20.0% to 22.0% of consolidated revenues. General and administrative costs of approximately $53 million to $55 million, which excludes items we consider non-recurring in nature. Pre-opening expenses of $5 million to $7 million. Net capital expenditures, after tenant allowances, of $25 million to $35 million. Adjusted EBITDA of $58 million to $66 million. By the end of fiscal year 2023, the company is targeting generation on an annual basis of at least $800 million in consolidated revenues and $130 million in adjusted EBITDA. To achieve these long-term targets, it said it would need to satisfy the following key annual goals: Consolidated revenue growth of at least 10%. Total comparable restaurant sales growth of 0% to 2%. Total net restaurant growth of 10% to 12% annually. Maintaining strong restaurant-level EBITDA margins. General and administrative cost leverage. Adjusted EBITDA growth of at least 15%. It is also targeting net debt to adjusted EBITDA of approximately 3x by the end of fiscal year 2021 and 2x by the end of fiscal year 2023.

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DFRG Del Frisco's
$6.64

-0.01 (-0.15%)

11/02/18
11/02/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Zillow (Z, ZG) initiated with a Hold at Zelman. 2. RumbleON (RMBL) initiated with a Buy at Craig-Hallum. 3. Ra Medical Systems (RMED) initiated with a Buy at Maxim. 4. Del Frisco's (DFRG) and Red Robin (RRGB) were initiated with a Hold at Loop Capital. 5. Garrett Motion (GTX) initiated with a Sell at UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/06/18
LOOP
12/06/18
NO CHANGE
LOOP
Hold
Del Frisco's activist activity puts floor under stock, says Loop Capital
After Engaged Capital, which has been successful with companies such as Rent-A-Center (RCII) and "has some credibility as an activist," announced that it had acquired an almost 10% stake in Del Frisco's (DFRG) and publicly disclosed a letter to management suggesting the company explore a sale, Loop Capital analyst Lynne Collier kept a Hold rating on the shares given her fundamental outlook but added that she sees the activist activity putting a floor in the stock. She sees a private equity buyer as more likely than a strategic one, the analyst added.
02/15/19
JPMS
02/15/19
INITIATION
Target $9
JPMS
Neutral
Del Frisco's initiated with a Neutral at JPMorgan
JPMorgan analyst John Ivankoe started Del Frisco's Restaurant Group with a Neutral rating and $9 price target. The analyst likes the long-term prospects of the core Double Eagle brand but urges investors to remain patient for a more attractive entry point given limited visibility on the company's ability to successfully grow three different brands.
02/15/19
02/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cubic (CUB) initiated with a Buy at Citi. 2. Del Frisco's (DFRG) initiated with a Neutral at JPMorgan. 3. Lindblad Expeditions (LIND) initiated with a Buy at Stifel. 4. CareDx (CDNA) initiated with a Buy at Jefferies. 5. AcelRx (ACRX) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NTAP

NetApp

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YNDX

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PRTA

Prothena

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LQDA

Liquidia Technologies

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WHR

Whirlpool

$131.06

-1.5 (-1.13%)

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CPK

Chesapeake Utilities

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LB

L Brands

$21.50

-1.185 (-5.22%)

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  • 23

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HTHT

Huazhu Group

$34.41

-0.47 (-1.35%)

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LB

L Brands

$21.50

-1.185 (-5.22%)

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  • 23

    May

HTHT

Huazhu Group

$34.41

-0.47 (-1.35%)

16:33
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Earnings
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LB

L Brands

$21.50

-1.185 (-5.22%)

16:33
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Earnings
L Brands narrows FY19 EPS view higher to $2.30-$2.60 from $2.20-$2.60 

Consensus $2.39

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QCOM

Qualcomm

$69.30

-8.48 (-10.90%)

, TGT

Target

$77.55

5.5 (7.63%)

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On The Fly
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QCOM

Qualcomm

$69.30

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TGT

Target

$77.55

5.5 (7.63%)

LOW

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JWN

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AVP

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ISCA

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IPHI

Inphi

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SE

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AMBA

Ambarella

$39.19

-5.04 (-11.40%)

PSTG

Pure Storage

$15.48

-5.12 (-24.85%)

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IOVA

Iovance Biotherapeutics

$16.63

0.42 (2.59%)

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LB

L Brands

$21.50

-1.185 (-5.22%)

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  • 23

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UNM

Unum Group

$34.58

-0.72 (-2.04%)

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PGTI

PGT Innovations

$15.50

0.155 (1.01%)

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PGTI

PGT Innovations

$15.50

0.155 (1.01%)

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LB

L Brands

$21.50

-1.185 (-5.22%)

16:31
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16:31
Earnings
L Brands reports Q1 EPS 14c, consensus 0c »

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  • 23

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FCAP

First Capital

$50.35

-0.35 (-0.69%)

16:31
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16:31
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  • 22

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16:30
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Options
Preliminary option volume of 16.7M today »

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ATRA

Atara Biotherapeutics

$23.12

-1.25 (-5.13%)

16:29
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Initiation
Atara Biotherapeutics initiated  »

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  • 31

    May

CPG

Crescent Point Energy

$3.79

-0.215 (-5.38%)

16:29
05/22/19
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16:29
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16:29
Conference/Events
Crescent Point Energy management to meet with TD Securities »

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  • 29

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MMI

Marcus & Millichap

$32.98

-0.24 (-0.72%)

, RMAX

RE/MAX Holdings

$32.31

-1.415 (-4.20%)

16:28
05/22/19
05/22
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16:28
Periodicals
U.S opens antitrust investigation of U.S. real estate industry, Bloomberg says »

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MMI

Marcus & Millichap

$32.98

-0.24 (-0.72%)

RMAX

RE/MAX Holdings

$32.31

-1.415 (-4.20%)

RDFN

Redfin

$17.36

-0.2 (-1.14%)

RLGY

Realogy

$7.43

-0.41 (-5.23%)

Z

Zillow

$42.27

0.66 (1.59%)

CLGX

CoreLogic

$40.94

-0.07 (-0.17%)

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RMBL

RumbleON

$4.90

-0.05 (-1.01%)

16:27
05/22/19
05/22
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16:27
Hot Stocks
RumbleON appoints Peter Levy as COO, effective immediately »

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  • 28

    May

NGD

New Gold

$0.63

-0.0391 (-5.84%)

16:27
05/22/19
05/22
16:27
05/22/19
16:27
Conference/Events
New Gold management to meet with TD Securities »

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  • 24

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