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Recap: Del Taco Restaurants Q3 Earnings

Benzinga Insights
·1 min read

Shares of Del Taco Restaurants (NASDAQ:TACO) moved lower by 6.64% after the company reported Q3 results.

Quarterly Results

Earnings per share increased 60.00% over the past year to $0.16, which beat the estimate of $0.10.

Revenue of $120,782,000 rose by 0.49% from the same period last year, which beat the estimate of $120,360,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Oct 15, 2020

View more earnings on TACO

Time: 04:30 PM

ET Webcast URL: https://event.on24.com/eventRegistration/eventRegistrationServlet?referrer=http%3A%2F%2Finvestor.deltaco.com%2F&eventid=2622610&sessionid=1&key=EE9786955FC436975610EAE208815DC0&regTag=

Recent Stock Performance

52-week high: $9.77

52-week low: $2.45

Price action over last quarter: Up 31.35%

Company Profile

Del Taco Restaurants Inc is a restaurant operator company. It is a franchisor of restaurants featuring fresh and fast made-to-order cuisine, including both Mexican inspired and American classic dishes. The company holds approximately 564 Del Taco restaurants, a majority of these in the Pacific Southwest.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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(See LJPC stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Kodak CEO Says Moving Forward On Generic Drug Ingredients Venture, With or Without Federal Loan

    Eastman Kodak Co (NYSE: KODK) CEO Jim Continenza said Monday that the company would push ahead with making generic drug ingredients, irrespective of whether it receives government assistance or not, the Wall Street Journal reports.What Happened: "It was put on hold but we are still going forward and we are cooperating in every way," Continenza said at the WSJ Tech Live conference on the stalled $765 million loan deal with the United States government.The executive defended the speed at which the deal was put together, pointing towards the U.S. dependence on foreign countries for drugs. "It came together quickly, but I think it also needs to," said Continenza. He attributed Kodak's handling of the deal to understaffing caused by the pandemic. "About two to three days into it, it started running amok," the Kodak CEO said at the WSJ event.Why It Matters: Kodak is facing an investigation from the Securities and Exchange Commission on how it disclosed the federal loan for making generic drugs, which led to a spike in its share in late July.In August, the U.S. International Development Finance Corporation, which was due to extend the loan, decided to not "proceed any further" until the company was cleared of allegations.Last month, a special committee appointed by the company's board concluded there were no violations of the law but flagged concerns related to corporate governance.Kodak executives, including Continenza, received 1.75 million stock options a day before it was disclosed to the public, the Journal reported earlier.When asked at the conference about the grant of the options, Continenza maintained that he had not sold any shares and that the grants "shouldn't be the focus."Price Action: Kodak shares gained almost 2% in the after-hours trading at $9.06 on Monday after closing 1% lower at $8.88.Photo courtesy: El Grafo via WikimediaSee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Kodak 5M Loan Deal Under Scanner Of Federal Agency That Put It Together(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Intel agrees to sell its NAND business to SK Hynix for $9 billion

    SK Hynix, one of the world’s largest chip makers, announced today it will pay $9 billion for Intel’s flash memory business. Intel said it will use proceeds from the deal to focus on artificial intelligence, 5G and edge computing. "For Intel, this transaction will allow us to to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders," said Intel chief executive officer Bob Swan in the announcement.

  • Tesla third-quarter registrations in California drop 13% - data

    The report released on Monday showed registrations in California, a bellwether for the electric-car maker and its largest U.S. market, recovered from a second-quarter low of roughly 9,800 vehicles to around 16,200 vehicles in the three months ended September. California registration for Tesla's Model 3 mass-market sedan, which in the past accounted for more than half of total registrations, fell 60% on a yearly basis to 6,500.

  • Liz Weston: Playing the market is a bad idea, especially now

    The current day trading boom will end as these frenzies always do: in tears. While we wait for the inevitable crash, let’s review not only why day traders are doomed but also why most people shouldn’t trade, or even invest in, individual stocks. Day trading basically means rapidly buying and selling investments, hoping to profit from small price fluctuations.

  • What’s Behind the Massive Rally in Nio’s Stock Price? Analyst Weighs In

    Many tech companies have posted massive share gains since the COVID-inflicted March slump. Few, though, have generated as much upside as Nio Limited (NIO). Catching a ride on the EV trend, since March lows, shares of the Chinese EV maker are up by an incredible 1070%.While Deutsche Bank analyst Edison Yu points out there hasn’t been a specific catalyst to send shares higher, the analyst counts several developments that have helped keep up momentum.First of all, in a recent interview, CEO William Li said that he expects Nio will be able to manufacture 150,000 vehicles annually by the end of next year, compared to the 60,000 it can currently produce. In the long term, Nio hopes to boost the figure up to 300,000 a year.Furthermore, the China market is “inflecting faster” than the analyst anticipated, as evidenced by September’s strong sales; Passenger BEV sales were up 70% year-over-year to 100,000 units. This amounts to the highest monthly volume since June 2019, which was the cut-off month for government subsidies.Additionally, Yu believes the fact customers have been waiting several months for deliveries due to excess orders, has caused growing excitement among buyers, whilst the meteoric rise of the homemade brand has resulted in “patriotic buying.” Add a surge in call option volume into the mix and it all results in a “stock on fire.”Still, Yu also points out how sentiment might change. It is the EV maker giant that Nio needs to keep an eye on.“We do see some risk that Tesla could materially cut the price of its locally made (MIC) Model Y from 488k RMB ($73k) to something in the mid-high 300k range ($56-58k). This could potentially hurt near-term sentiment and slow down NIO’s order book momentum considering it would be a direct competitor to NIO’s EC6 and ES6,” the analyst said.Overall, Yu maintains a Buy rating on Nio shares. Yu intends to revisit his valuation "after the company reports quarterly numbers." (To watch Yu’s track record, click here)Overall, based on 7 Buys, 2 Holds and 1 Sell, the stock has a Moderate Buy consensus rating. However, the analysts think the surge needs to pause for a breather, as the $21.72 average price target implies shares will drop by 22% over the coming months. (See Nio stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • AT&T stock heads for lowest close since March

    Apple Inc.'s iPhone 12 launch hasn't driven much momentum for AT&T Inc. shares, which are on track for their lowest close in almost seven months.

  • Is Wall Street Bullish On Apple Stock?

    Shares of the tech giant Apple Inc (NASDAQ: AAPL) have been able to outpace the broader markets for over two decades. While the S&P 500 index has gained close to 136% since the start of 2000, Apple has returned over 1,200% in the same period. Even in the face of the COVID-19 pandemic, Apple surfed record heights this year to become the first company to touch $2 trillion in valuation.Apple stock has gained 58% year-to-date. Apple Successfully Diversifying Away From iPhone: Apple is one of the premium consumer brands in the world. It has managed to tap into consumer emotions, generating a high degree of loyalty that results in repeat purchases.The company has released several iconic and revolutionary products including the iPod, iPhone, iPad, MacBook and, more recently, the AirPods and Apple Watch. The first iPhone, introduced way back in June 2007, was quick to disrupt the smartphone segment.The iPhone accounted for 5% of the global smartphone market at the end of 2007, and this rose to an enviable 20% in the fourth quarter of 2019, according to Statista. It was not long before the iPhone became Apple's flagship product, translating to 54.7% of total sales in fiscal 2019. This figure touched a peak of 66% in 2015 and stood at 44% in the June quarter of 2020. Apple has successfully managed to diversify its revenue base over the years and now has a lower level of dependency on the smartphone segment.At the same time, 44% of sales is still sizable, and the upcoming lineup of 5G-enabled iPhones should continue to be a critical driver of Apple's sales. Services, Wearables Key To Apple's Long-Term Growth: In 2014, Apple's Services business raked in $18 billion in sales and accounted for less than 10% of company revenue.By 2019, the Services business had more than doubled to $46 billion, accounting for 18% of total sales. In the first nine months of fiscal 2020, the Services business has already generated $40 billion in revenue. In 2014, Apple's wearables business was virtually non-existent. In 2019, it was Cupertino's fastest-growing segment, with a 9.4% share of total sales. Revenues from Apple's Services comprise sales from its digital content stores and streaming services as well as Apple Care, licensing and other subscription services like Apple TV+ and Apple Arcade. The Wearables segment consists of AirPods, Apple Watch, Beats products, HomePod and iPod Touch.Growth in the high-margin Services business has enabled Apple to increase its earnings at an annual rate of 8.4% in the last five years. Wall Street analysts expect earnings to grow by 12.5% annually between fiscal 2019 and 2024. Apple's Potential In Emerging Markets: The iPhone ended 2019 with a 13.9% market share in the global smartphone space.It is the largest smartphone player in the U.S., but is struggling to gain a foothold in emerging economies such as India, Latin America and Southeast Asia.The iPhone is still viewed as a luxury product on the Indian subcontinent, where the average smartphone costs less than $200. Yet the increase in the purchasing power of the middle class in emerging markets could help Apple sustain its revenue growth in the coming decade.The company continues to pump billions of dollars into research and development, giving it an edge over market peers, disruptive products, brand loyalty and a recurring customer base. Apple's diversified business, huge market presence and strong balance sheet are some of the reasons why analysts continue to remain bullish on the stock. According to the 38 analysts polled by Yahoo Finance, 32 have a "buy" recommendation on Apple shares and six have a "hold" recommendation. Photo courtesy of Apple. Latest Ratings for AAPL DateFirmActionFromTo Oct 2020Credit SuisseMaintainsNeutral Oct 2020Morgan StanleyMaintainsOverweight Oct 2020RBC CapitalMaintainsOutperform View More Analyst Ratings for AAPL View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Snapchat Adds TikTok-Like Music Feature For iPhone Users * After Regal, COVID-19 Forces AMC Theater Chain To Consider Bankruptcy: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Many stock investors are too young to remember Black Monday in October 1987 — why that’s a problem

    At some point over the next century, the stock market will lose more than 20% of its value in a single day. Maybe this doesn’t seem like useful advice, but the fact is that you’re kidding yourself if you think market crashes of such magnitude won’t happen again. This sobering thought coincides with the 33rd anniversary of the 1987 U.S. stock market crash.

  • What Just Happened to NIO Stock — and What Investors Should Do About It

    Stock in the Chinese electric-vehicle maker was on fire last week, leaving some on Wall Street wondering what happened and investors wondering what comes next.