Cracker Barrel Old Country Store (NASDAQ:CBRL) Releases FY 2019 Earnings Guidance

Cracker Barrel Old Country Store (NASDAQ:CBRL) updated its FY 2019 earnings guidance on Tuesday. The company provided EPS guidance of $8.95-9.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $9.07. The company issued revenue guidance of $3.05-3.05 billion, compared to the consensus revenue estimate of $3.05 billion.

Shares of CBRL stock traded up $0.21 during mid-day trading on Friday, reaching $170.73. The stock had a trading volume of 304,936 shares, compared to its average volume of 388,682. The company has a 50-day moving average price of $166.04. Cracker Barrel Old Country Store has a 52-week low of $141.63 and a 52-week high of $185.00. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.89 and a beta of 0.54. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 0.62.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its quarterly earnings data on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $735.15 million. During the same quarter in the previous year, the company earned $2.03 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that Cracker Barrel Old Country Store will post 9 earnings per share for the current year.

The firm also recently disclosed a special dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $3.00 per share. This represents a yield of 3%. The ex-dividend date of this dividend is Thursday, July 18th. Cracker Barrel Old Country Store’s payout ratio is currently 56.37%.

Cracker Barrel Old Country Store announced that its board has approved a stock repurchase program on Tuesday, June 4th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the restaurant operator to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Several brokerages have recently issued reports on CBRL. SunTrust Banks dropped 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. BidaskClub downgraded shares of Cracker Barrel Old Country Store from a buy rating to a hold rating in a research note on Saturday, June 1st. Zacks Investment Research downgraded shares of Cracker Barrel Old Country Store from a hold rating to a sell rating in a research note on Tuesday, May 7th. Telsey Advisory Group downgraded shares of Cracker Barrel Old Country Store from an outperform rating to a market perform rating and dropped their target price for the stock from $190.00 to $170.00 in a research note on Wednesday, June 5th. Finally, Maxim Group reiterated a buy rating and issued a $185.00 target price on shares of Cracker Barrel Old Country Store in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given 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 a consensus price target of $170.54.

In related news, major shareholder Sardar Biglari sold 12,130 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $170.02, for a total transaction of $2,062,342.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 411,058 shares of company stock valued at $70,012,896. 0.88% of the stock is owned by corporate insiders.

About Cracker Barrel Old Country Store

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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