Carrols Restaurant Group, Inc. (TAST) to Post Q4 2019 Earnings of $0.11 Per Share, SunTrust Banks Forecasts

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Carrols Restaurant Group, Inc. (NASDAQ:TAST) – Research analysts at SunTrust Banks cut their Q4 2019 EPS estimates for shares of Carrols Restaurant Group in a research report issued to clients and investors on Monday, May 6th. SunTrust Banks analyst J. Bartlett now forecasts that the restaurant operator will post earnings per share of $0.11 for the quarter, down from their prior forecast of $0.12. SunTrust Banks also issued estimates for Carrols Restaurant Group’s Q4 2020 earnings at $0.21 EPS and FY2020 earnings at $0.70 EPS.

Other equities analysts have also issued reports about the stock. Dougherty & Co reiterated a “buy” rating and issued a $16.00 price target on shares of Carrols Restaurant Group in a research report on Thursday. Zacks Investment Research upgraded shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday. ValuEngine upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, BidaskClub upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Carrols Restaurant Group currently has a consensus rating of “Buy” and an average target price of $14.50.

TAST opened at $8.95 on Thursday. The company has a market capitalization of $331.19 million, a price-to-earnings ratio of 29.83, a PEG ratio of 1.81 and a beta of 0.27. Carrols Restaurant Group has a 1-year low of $8.42 and a 1-year high of $16.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.42 and a quick ratio of 0.30.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.13). The firm had revenue of $290.80 million during the quarter, compared to the consensus estimate of $292.51 million. Carrols Restaurant Group had a return on equity of 7.64% and a net margin of 0.86%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share.

Several large investors have recently modified their holdings of TAST. Wells Fargo & Company MN boosted its position in Carrols Restaurant Group by 14.1% in the 3rd quarter. Wells Fargo & Company MN now owns 72,260 shares of the restaurant operator’s stock valued at $1,056,000 after buying an additional 8,913 shares during the last quarter. BlackRock Inc. boosted its position in Carrols Restaurant Group by 13.1% in the 3rd quarter. BlackRock Inc. now owns 3,279,129 shares of the restaurant operator’s stock valued at $47,876,000 after buying an additional 378,788 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Carrols Restaurant Group by 212.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 122,101 shares of the restaurant operator’s stock valued at $1,783,000 after buying an additional 83,029 shares during the last quarter. Jane Street Group LLC bought a new position in Carrols Restaurant Group in the 3rd quarter valued at $167,000. Finally, MetLife Investment Advisors LLC boosted its position in Carrols Restaurant Group by 43.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 24,970 shares of the restaurant operator’s stock valued at $365,000 after buying an additional 7,512 shares during the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of December 30, 2018, it owned and operated 849 Burger King restaurants located in 18 Northeastern, Midwestern, and Southeastern states. The company was founded in 1960 and is headquartered in Syracuse, New York.

Further Reading: Institutional Investors

Earnings History and Estimates for Carrols Restaurant Group (NASDAQ:TAST)

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