Brokers Offer Predictions for Cracker Barrel Old Country Store, Inc.’s FY2019 Earnings (NASDAQ:CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) – Equities researchers at SunTrust Banks increased their FY2019 earnings estimates for Cracker Barrel Old Country Store in a research note issued to investors on Tuesday, June 4th, Zacks Investment Research reports. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will earn $9.06 per share for the year, up from their previous estimate of $9.00. SunTrust Banks currently has a “Hold” rating and a $161.00 price target on the stock. SunTrust Banks also issued estimates for Cracker Barrel Old Country Store’s Q2 2020 earnings at $2.50 EPS and Q3 2020 earnings at $2.08 EPS.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, June 4th. The restaurant operator reported $2.09 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $735.15 million. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis.

CBRL has been the subject of several other research reports. Maxim Group raised shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $190.00 in a research report on Thursday, April 11th. Wells Fargo & Co increased their price objective 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 report on Wednesday, June 5th. BidaskClub downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Zacks Investment Research raised shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Telsey Advisory Group downgraded shares of Cracker Barrel Old Country Store from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $190.00 to $170.00 in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $170.54.

NASDAQ:CBRL traded up $0.21 during trading hours on Thursday, hitting $170.73. The stock had a trading volume of 410,120 shares, compared to its average volume of 434,384. The firm has a 50 day moving average price of $166.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.57 and a current ratio of 0.99. Cracker Barrel Old Country Store has a one year low of $141.63 and a one year high of $185.00. The stock has a market cap of $4.10 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.90 and a beta of 0.54.

Institutional investors have recently added to or reduced their stakes in the stock. Doyle Wealth Management bought a new position in Cracker Barrel Old Country Store in the fourth quarter valued at $26,000. Meridian Wealth Management LLC bought a new position in Cracker Barrel Old Country Store in the first quarter valued at $26,000. Adirondack Trust Co. grew its position in Cracker Barrel Old Country Store by 104.0% in the first quarter. Adirondack Trust Co. now owns 255 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC grew its position in Cracker Barrel Old Country Store by 46.4% in the first quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock valued at $50,000 after purchasing an additional 98 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Cracker Barrel Old Country Store by 318.4% in the fourth quarter. Parallel Advisors LLC now owns 364 shares of the restaurant operator’s stock valued at $58,000 after purchasing an additional 277 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Sardar Biglari sold 211,243 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $170.57, for a total value of $36,031,718.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 411,058 shares of company stock valued at $70,012,896. 0.88% of the stock is owned by insiders.

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

Cracker Barrel Old Country Store declared that its board has authorized a share repurchase plan on Tuesday, June 4th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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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