$373.26 Million in Sales Expected for Carrols Restaurant Group Inc (TAST) This Quarter

Wall Street analysts predict that Carrols Restaurant Group Inc (NASDAQ:TAST) will announce sales of $373.26 million for the current quarter, according to Zacks. Two analysts have made estimates for Carrols Restaurant Group’s earnings, with the highest sales estimate coming in at $376.43 million and the lowest estimate coming in at $370.08 million. Carrols Restaurant Group posted sales of $303.05 million in the same quarter last year, which suggests a positive year over year growth rate of 23.2%. The company is expected to issue its next earnings results on Tuesday, August 6th.

On average, analysts expect that Carrols Restaurant Group will report full-year sales of $1.47 billion for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $1.69 billion, with estimates ranging from $1.65 billion to $1.74 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 released its earnings results on Wednesday, May 8th. The restaurant operator reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). Carrols Restaurant Group had a return on equity of 3.29% and a net margin of 0.15%. The company had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $292.51 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company’s revenue was up 7.1% on a year-over-year basis.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Carrols Restaurant Group from a “buy” rating to a “strong sell” rating in a research note on Tuesday, May 14th. Dougherty & Co reissued a “buy” rating and issued a $16.00 target price on shares of Carrols Restaurant Group in a research note on Thursday, May 9th. Finally, BidaskClub raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.50.

In other Carrols Restaurant Group news, Director Alexander R. Sloane purchased 11,709 shares of the stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $8.56 per share, with a total value of $100,229.04. Following the completion of the acquisition, the director now directly owns 5,258 shares in the company, valued at approximately $45,008.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.60% of the company’s stock.

Several large investors have recently made changes to their positions in TAST. Quantamental Technologies LLC bought a new position in Carrols Restaurant Group in the fourth quarter valued at about $31,000. Macquarie Group Ltd. lifted its holdings in Carrols Restaurant Group by 43.7% in the fourth quarter. Macquarie Group Ltd. now owns 5,264 shares of the restaurant operator’s stock valued at $52,000 after acquiring an additional 1,600 shares during the period. Legal & General Group Plc lifted its holdings in Carrols Restaurant Group by 31.7% in the fourth quarter. Legal & General Group Plc now owns 6,502 shares of the restaurant operator’s stock valued at $64,000 after acquiring an additional 1,564 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Carrols Restaurant Group by 202.2% in the first quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock valued at $72,000 after acquiring an additional 4,838 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Carrols Restaurant Group by 331.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,779 shares of the restaurant operator’s stock valued at $96,000 after acquiring an additional 7,512 shares during the period. 72.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ TAST traded down $0.05 during trading on Friday, reaching $8.47. The company had a trading volume of 156,876 shares, compared to its average volume of 287,266. Carrols Restaurant Group has a 12-month low of $8.16 and a 12-month high of $16.40. The stock has a market cap of $375.83 million, a P/E ratio of 28.23, a P/E/G ratio of 2.02 and a beta of 0.40. The company has a current ratio of 0.29, a quick ratio of 0.21 and a debt-to-equity ratio of 4.38.

About Carrols Restaurant Group

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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