Zacks: Analysts Expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Will Post Earnings of $2.43 Per Share

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Analysts expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to post earnings of $2.43 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cracker Barrel Old Country Store’s earnings, with the lowest EPS estimate coming in at $2.38 and the highest estimate coming in at $2.49. Cracker Barrel Old Country Store reported earnings of $2.19 per share during the same quarter last year, which indicates a positive year over year growth rate of 11%. The firm is expected to issue its next quarterly earnings report on Tuesday, September 17th.

According to Zacks, analysts expect that Cracker Barrel Old Country Store will report full year earnings of $9.00 per share for the current financial year, with EPS estimates ranging from $8.95 to $9.06. For the next fiscal year, analysts anticipate that the company will report earnings of $9.07 per share, with EPS estimates ranging from $8.80 to $9.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Cracker Barrel Old Country Store.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.02. Cracker Barrel Old Country Store had a net margin of 7.10% and a return on equity of 34.36%. The firm had revenue of $739.60 million for the quarter, compared to the consensus estimate of $735.15 million. During the same period in the prior year, the firm earned $2.03 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis.

Several equities research analysts recently weighed in on CBRL shares. Wells Fargo & Co upped their target price on shares of Cracker Barrel Old Country Store from $147.00 to $153.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 5th. ValuEngine downgraded shares of Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Maxim Group reaffirmed a “buy” rating and set a $195.00 target price (up from $185.00) on shares of Cracker Barrel Old Country Store in a research note on Wednesday, July 24th. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, SunTrust Banks cut their target price on shares of Cracker Barrel Old Country Store to $161.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $171.96.

In other Cracker Barrel Old Country Store news, major shareholder Sardar Biglari sold 68,630 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $170.13, for a total transaction of $11,676,021.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,173,399 shares of company stock valued at $201,096,228 in the last quarter. 0.88% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan grew its holdings in Cracker Barrel Old Country Store by 1.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,440 shares of the restaurant operator’s stock worth $758,000 after acquiring an additional 60 shares in the last quarter. Alpha Windward LLC grew its holdings in Cracker Barrel Old Country Store by 2.5% during the 2nd quarter. Alpha Windward LLC now owns 2,919 shares of the restaurant operator’s stock worth $511,000 after acquiring an additional 70 shares in the last quarter. US Bancorp DE grew its holdings in Cracker Barrel Old Country Store by 3.0% during the 2nd quarter. US Bancorp DE now owns 2,392 shares of the restaurant operator’s stock worth $408,000 after acquiring an additional 70 shares in the last quarter. 6 Meridian grew its holdings in Cracker Barrel Old Country Store by 2.6% during the 2nd quarter. 6 Meridian now owns 2,916 shares of the restaurant operator’s stock worth $498,000 after acquiring an additional 73 shares in the last quarter. Finally, Laffer Investments grew its holdings in Cracker Barrel Old Country Store by 1.8% during the 2nd quarter. Laffer Investments now owns 4,390 shares of the restaurant operator’s stock worth $750,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 82.21% of the company’s stock.

CBRL traded up $0.86 during trading hours on Friday, hitting $164.79. 3,373 shares of the company’s stock were exchanged, compared to its average volume of 361,717. Cracker Barrel Old Country Store has a 12-month low of $141.63 and a 12-month high of $185.00. The firm has a 50 day moving average of $172.25 and a 200 day moving average of $165.70. The firm has a market cap of $4.14 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.90 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.57 and a debt-to-equity ratio of 0.62.

Cracker Barrel Old Country Store declared that its board has approved a stock repurchase program on Tuesday, June 4th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a special dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were issued a dividend of $3.00 per share. This represents a yield of 3%. The ex-dividend date of this dividend was Thursday, July 18th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 58.62%.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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Earnings History and Estimates for Cracker Barrel Old Country Store (NASDAQ:CBRL)

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