Wall Street brokerages expect that Carrols Restaurant Group, Inc. (NASDAQ:TAST) will announce sales of $299.89 million for the current quarter, according to Zacks. Two analysts have provided estimates for Carrols Restaurant Group’s earnings. The highest sales estimate is $301.37 million and the lowest is $298.41 million. Carrols Restaurant Group reported sales of $285.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Carrols Restaurant Group will report full-year sales of $1.18 billion for the current fiscal year. For the next year, analysts expect that the company will report sales of $1.27 billion per share, with estimates ranging from $1.23 billion to $1.31 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Tuesday, August 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Carrols Restaurant Group had a return on equity of 8.66% and a net margin of 1.00%. The company had revenue of $303.05 million for the quarter, compared to analysts’ expectations of $301.21 million.
TAST has been the topic of a number of research analyst reports. ValuEngine cut Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Zacks Investment Research raised Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday, May 3rd. BidaskClub raised Carrols Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 9th. SunTrust Banks assumed coverage on Carrols Restaurant Group in a report on Wednesday, May 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Citigroup upped their price objective on Carrols Restaurant Group from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 25th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.13.
NASDAQ TAST remained flat at $$15.55 during trading hours on Tuesday. The company had a trading volume of 277,262 shares, compared to its average volume of 237,822. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 1.77. Carrols Restaurant Group has a one year low of $9.90 and a one year high of $16.20. The stock has a market cap of $568.18 million, a PE ratio of 77.75, a PEG ratio of 2.17 and a beta of 0.34.
Several institutional investors and hedge funds have recently modified their holdings of TAST. Millennium Management LLC raised its holdings in shares of Carrols Restaurant Group by 42.4% during the 1st quarter. Millennium Management LLC now owns 1,402,472 shares of the restaurant operator’s stock worth $15,708,000 after acquiring an additional 417,911 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Carrols Restaurant Group by 13.7% during the 2nd quarter. BlackRock Inc. now owns 2,900,341 shares of the restaurant operator’s stock worth $43,069,000 after acquiring an additional 349,514 shares in the last quarter. Monarch Partners Asset Management LLC raised its holdings in shares of Carrols Restaurant Group by 372.2% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 320,640 shares of the restaurant operator’s stock worth $4,762,000 after acquiring an additional 252,740 shares in the last quarter. FMR LLC raised its holdings in shares of Carrols Restaurant Group by 30.4% during the 2nd quarter. FMR LLC now owns 1,036,096 shares of the restaurant operator’s stock worth $15,386,000 after acquiring an additional 241,400 shares in the last quarter. Finally, Mackay Shields LLC purchased a new stake in shares of Carrols Restaurant Group during the 1st quarter worth approximately $2,613,000. 84.03% of the stock is currently owned by institutional investors and hedge funds.
Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King. As of December 31, 2017, it owned and operated 807 Burger King restaurants located in 17 states of the United States. The company was founded in 1960 and is headquartered in Syracuse, New York.
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