Zacks: Brokerages Expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Will Announce Earnings of $1.67 Per Share

Wall Street analysts expect that Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) will announce earnings of $1.67 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Cracker Barrel Old Country Store’s earnings. The highest EPS estimate is $1.92 and the lowest is $1.48. Cracker Barrel Old Country Store posted earnings of $0.69 per share in the same quarter last year, which suggests a positive year over year growth rate of 142%. The business is scheduled to announce its next earnings report on Thursday, December 2nd.

According to Zacks, analysts expect that Cracker Barrel Old Country Store will report full-year earnings of $8.73 per share for the current fiscal year, with EPS estimates ranging from $8.44 to $9.02. For the next fiscal year, analysts anticipate that the firm will report earnings of $9.23 per share, with EPS estimates ranging from $9.13 to $9.41. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Cracker Barrel Old Country Store.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Monday, September 20th. The restaurant operator reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.33 by ($0.08). Cracker Barrel Old Country Store had a return on equity of 8.61% and a net margin of 9.61%. The firm had revenue of $784.40 million for the quarter, compared to analysts’ expectations of $794.07 million. During the same period last year, the business earned ($0.85) earnings per share. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis.

A number of research analysts have recently commented on CBRL shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Cracker Barrel Old Country Store from $195.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 22nd. MKM Partners lowered their target price on Cracker Barrel Old Country Store from $165.00 to $155.00 and set a “neutral” rating on the stock in a report on Wednesday, September 15th. Wells Fargo & Company raised their target price on Cracker Barrel Old Country Store from $137.00 to $139.00 and gave the company an “underweight” rating in a report on Wednesday, September 22nd. Zacks Investment Research lowered Cracker Barrel Old Country Store from a “hold” rating to a “strong sell” rating and set a $123.00 target price on the stock. in a report on Friday. Finally, Truist lowered their target price on Cracker Barrel Old Country Store from $178.00 to $159.00 and set a “hold” rating on the stock in a report on Wednesday, September 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $155.89.

Shares of NASDAQ CBRL traded up $4.12 during mid-day trading on Wednesday, reaching $149.06. 6,707 shares of the company traded hands, compared to its average volume of 301,518. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.03 and a current ratio of 1.32. The stock has a market cap of $3.54 billion, a PE ratio of 14.17 and a beta of 1.51. The company’s fifty day moving average is $138.64 and its two-hundred day moving average is $152.68. Cracker Barrel Old Country Store has a fifty-two week low of $106.92 and a fifty-two week high of $178.82.

Cracker Barrel Old Country Store announced that its Board of Directors has authorized a stock buyback program on Tuesday, September 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 9th. Stockholders of record on Friday, October 22nd will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, October 21st. This is a positive change from Cracker Barrel Old Country Store’s previous quarterly dividend of $1.00. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 196.08%.

Several institutional investors have recently bought and sold shares of CBRL. Assetmark Inc. lifted its position in shares of Cracker Barrel Old Country Store by 565.2% during the 1st quarter. Assetmark Inc. now owns 153 shares of the restaurant operator’s stock worth $26,000 after buying an additional 130 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Cracker Barrel Old Country Store by 117.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 196 shares of the restaurant operator’s stock worth $28,000 after buying an additional 106 shares during the period. Certified Advisory Corp bought a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth approximately $32,000. Cullen Frost Bankers Inc. bought a new position in shares of Cracker Barrel Old Country Store during the 2nd quarter worth approximately $36,000. Finally, Accel Wealth Management lifted its position in shares of Cracker Barrel Old Country Store by 172.4% during the 2nd quarter. Accel Wealth Management now owns 316 shares of the restaurant operator’s stock worth $47,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 88.38% of the company’s stock.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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

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