Research Analysts Issue Forecasts for Cracker Barrel Old Country Store, Inc.’s Q2 2019 Earnings (CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) – Equities research analysts at SunTrust Banks raised their Q2 2019 earnings estimates for shares of Cracker Barrel Old Country Store in a report issued on Tuesday. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will post earnings per share of $2.22 for the quarter, up from their prior estimate of $2.12. SunTrust Banks also issued estimates for Cracker Barrel Old Country Store’s Q3 2019 earnings at $2.03 EPS, Q4 2019 earnings at $2.41 EPS and FY2019 earnings at $8.66 EPS.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last announced its earnings results on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.05. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The company had revenue of $743.20 million for the quarter, compared to analyst estimates of $746.72 million. During the same period in the prior year, the business earned $2.12 earnings per share. Cracker Barrel Old Country Store’s quarterly revenue was down .3% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “Research Analysts Issue Forecasts for Cracker Barrel Old Country Store, Inc.’s Q2 2019 Earnings (CBRL)” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/14/research-analysts-issue-forecasts-for-cracker-barrel-old-country-store-inc-s-q2-2019-earnings-cbrl.html.

CBRL has been the topic of a number of other reports. Maxim Group restated a “hold” rating and issued a $155.00 price target (down from $170.00) on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 7th. BidaskClub downgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Nomura reduced their price target on shares of Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, September 14th. Bank of America Corporation reduced their price target on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating on the stock in a research note on Monday, September 11th. Finally, Instinet restated a “neutral” rating and issued a $158.00 price target (down from $162.00) on shares of Cracker Barrel Old Country Store in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $163.78.

Shares of Cracker Barrel Old Country Store (NASDAQ CBRL) traded up 0.85% during trading on Thursday, hitting $151.28. 267,980 shares of the stock were exchanged. The firm has a 50 day moving average price of $148.92 and a 200 day moving average price of $157.44. Cracker Barrel Old Country Store has a 52 week low of $130.15 and a 52 week high of $175.04. The firm has a market capitalization of $3.64 billion, a P/E ratio of 18.07 and a beta of 0.51.

A number of large investors have recently bought and sold shares of the stock. Intl Fcstone Inc. acquired a new stake in Cracker Barrel Old Country Store during the 2nd quarter worth approximately $219,000. Public Employees Retirement System of Ohio boosted its position in Cracker Barrel Old Country Store by 8.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,117 shares of the restaurant operator’s stock worth $187,000 after buying an additional 88 shares during the period. Ameritas Investment Partners Inc. boosted its position in Cracker Barrel Old Country Store by 1.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,853 shares of the restaurant operator’s stock worth $1,481,000 after buying an additional 107 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its position in Cracker Barrel Old Country Store by 127.7% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,692 shares of the restaurant operator’s stock worth $952,000 after buying an additional 3,192 shares during the period. Finally, Scotia Capital Inc. boosted its position in Cracker Barrel Old Country Store by 14.4% during the 2nd quarter. Scotia Capital Inc. now owns 8,411 shares of the restaurant operator’s stock worth $1,407,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 85.62% of the company’s stock.

In related news, CEO Sandra B. Cochran sold 36,794 shares of Cracker Barrel Old Country Store stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the sale, the chief executive officer now directly owns 157,591 shares in the company, valued at approximately $23,901,826.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrea Weiss sold 2,000 shares of Cracker Barrel Old Country Store stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $153.39, for a total transaction of $306,780.00. Following the sale, the director now owns 11,758 shares in the company, valued at $1,803,559.62. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

Cracker Barrel Old Country Store declared that its board has initiated a stock repurchase program on Friday, September 29th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 0.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Friday, October 13th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $4.80 annualized dividend and a yield of 3.17%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 57.28%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.

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

Receive News & Ratings for Cracker Barrel Old Country Store Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cracker Barrel Old Country Store Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply