Carrols Restaurant Group Inc (NASDAQ:TAST) Expected to Announce Quarterly Sales of $409.72 Million

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Analysts forecast that Carrols Restaurant Group Inc (NASDAQ:TAST) will post $409.72 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Carrols Restaurant Group’s earnings, with the highest sales estimate coming in at $411.50 million and the lowest estimate coming in at $408.57 million. Carrols Restaurant Group posted sales of $307.75 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.1%. The company is scheduled to report its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Carrols Restaurant Group will report full year sales of $1.37 billion for the current year, with estimates ranging from $1.18 billion to $1.47 billion. For the next year, analysts expect that the company will report sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Carrols Restaurant Group.

Carrols Restaurant Group (NASDAQ:TAST) last issued its earnings results on Thursday, November 7th. The restaurant operator reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.19). Carrols Restaurant Group had a negative return on equity of 3.00% and a negative net margin of 1.48%. The firm had revenue of $398.40 million for the quarter, compared to analyst estimates of $400.92 million. During the same period in the previous year, the company earned $0.09 earnings per share. Carrols Restaurant Group’s revenue for the quarter was up 34.1% compared to the same quarter last year.

TAST has been the subject of a number of analyst reports. Raymond James lowered their price target on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Zacks Investment Research raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Deutsche Bank initiated coverage on Carrols Restaurant Group in a research report on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price target for the company. BidaskClub raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Craig Hallum initiated coverage on Carrols Restaurant Group in a research report on Wednesday, November 27th. They issued a “buy” rating and a $11.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $11.10.

Shares of NASDAQ:TAST opened at $7.92 on Monday. The firm has a market capitalization of $408.04 million, a price-to-earnings ratio of 26.40 and a beta of 0.51. The stock’s 50 day moving average is $7.50 and its 200-day moving average is $8.16. Carrols Restaurant Group has a twelve month low of $6.23 and a twelve month high of $11.56. The company has a quick ratio of 0.20, a current ratio of 0.29 and a debt-to-equity ratio of 3.92.

Several hedge funds have recently bought and sold shares of the company. Creative Planning grew its stake in shares of Carrols Restaurant Group by 12.6% during the 2nd quarter. Creative Planning now owns 17,365 shares of the restaurant operator’s stock worth $157,000 after acquiring an additional 1,940 shares during the period. Swiss National Bank grew its stake in shares of Carrols Restaurant Group by 3.3% during the 2nd quarter. Swiss National Bank now owns 65,324 shares of the restaurant operator’s stock worth $590,000 after acquiring an additional 2,100 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Carrols Restaurant Group by 354.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 2,561 shares during the period. Bank of Montreal Can bought a new position in shares of Carrols Restaurant Group during the 2nd quarter worth $27,000. Finally, Royal Bank of Canada grew its stake in shares of Carrols Restaurant Group by 12.8% during the 2nd quarter. Royal Bank of Canada now owns 35,291 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 4,016 shares during the period. Institutional investors own 63.46% 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 May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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

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