Carrols Restaurant Group (TAST) Posts Quarterly Earnings Results, Meets Expectations

Carrols Restaurant Group (NASDAQ:TAST) issued its earnings results on Tuesday. The restaurant operator reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09, Morningstar.com reports. Carrols Restaurant Group had a return on equity of 8.53% and a net margin of 1.00%. The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $298.52 million. During the same quarter last year, the company earned $0.08 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Carrols Restaurant Group updated its FY 2018 guidance to EPS.

NASDAQ:TAST opened at $12.99 on Tuesday. The company has a market cap of $474.27 million, a P/E ratio of 64.95, a PEG ratio of 1.87 and a beta of 0.51. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66. Carrols Restaurant Group has a 52-week low of $9.90 and a 52-week high of $16.40.

Several brokerages have recently weighed in on TAST. SunTrust Banks reissued a “buy” rating and set a $19.00 target price on shares of Carrols Restaurant Group in a research report on Wednesday, August 8th. Zacks Investment Research lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. BidaskClub raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Citigroup raised their target price on Carrols Restaurant Group from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.33.

In related news, VP William E. Myers sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $16.10, for a total transaction of $32,200.00. Following the transaction, the vice president now owns 72,421 shares in the company, valued at approximately $1,165,978.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul R. Flanders sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $16.27, for a total value of $122,025.00. Following the transaction, the chief financial officer now owns 305,811 shares in the company, valued at approximately $4,975,544.97. The disclosure for this sale can be found here. Insiders have sold a total of 63,439 shares of company stock worth $1,000,769 in the last 90 days. 4.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Carrols Restaurant Group by 13.7% during the 2nd quarter. BlackRock Inc. now owns 2,900,341 shares of the restaurant operator’s stock worth $43,069,000 after buying an additional 349,514 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Carrols Restaurant Group by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,716 shares of the restaurant operator’s stock valued at $35,012,000 after purchasing an additional 49,309 shares during the last quarter. FMR LLC grew its stake in shares of Carrols Restaurant Group by 30.4% in the 2nd quarter. FMR LLC now owns 1,036,096 shares of the restaurant operator’s stock valued at $15,386,000 after purchasing an additional 241,400 shares during the last quarter. Royce & Associates LP grew its stake in shares of Carrols Restaurant Group by 15.4% in the 2nd quarter. Royce & Associates LP now owns 913,431 shares of the restaurant operator’s stock valued at $13,564,000 after purchasing an additional 121,700 shares during the last quarter. Finally, Portolan Capital Management LLC grew its stake in shares of Carrols Restaurant Group by 1,283.5% in the 2nd quarter. Portolan Capital Management LLC now owns 711,547 shares of the restaurant operator’s stock valued at $10,566,000 after purchasing an additional 660,116 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

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About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants. The company was founded in 1960 and is headquartered in Syracuse, New York.

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Earnings History for Carrols Restaurant Group (NASDAQ:TAST)

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