Brokerages forecast that Carrols Restaurant Group, Inc. (NASDAQ:TAST) will post $307.13 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Carrols Restaurant Group’s earnings, with the lowest sales estimate coming in at $305.74 million and the highest estimate coming in at $308.51 million. Carrols Restaurant Group posted sales of $283.97 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Carrols Restaurant Group will report full year sales of $1.18 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will report sales of $1.28 billion, with estimates ranging from $1.25 billion to $1.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Tuesday, November 6th. The restaurant operator reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $298.52 million. Carrols Restaurant Group had a return on equity of 8.62% and a net margin of 1.06%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 EPS.
A number of equities analysts recently commented on TAST shares. Zacks Investment Research cut Carrols Restaurant Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 7th. SunTrust Banks restated a “buy” rating and set a $19.00 target price on shares of Carrols Restaurant Group in a report on Wednesday, August 8th. Citigroup raised their target price on Carrols Restaurant Group from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 13th. BidaskClub upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, ValuEngine cut Carrols Restaurant Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.67.
Shares of NASDAQ TAST traded down $0.48 during mid-day trading on Friday, reaching $10.77. 192,055 shares of the company’s stock were exchanged, compared to its average volume of 249,009. The stock has a market cap of $402.66 million, a PE ratio of 53.85, a P/E/G ratio of 1.67 and a beta of 0.42. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 1.60. Carrols Restaurant Group has a 52-week low of $10.00 and a 52-week high of $16.40.
Hedge funds have recently bought and sold shares of the business. ClariVest Asset Management LLC acquired a new stake in Carrols Restaurant Group in the 3rd quarter valued at about $107,000. Worth Venture Partners LLC acquired a new stake in Carrols Restaurant Group in the 3rd quarter valued at about $115,000. Trexquant Investment LP acquired a new stake in Carrols Restaurant Group in the 2nd quarter valued at about $162,000. Jane Street Group LLC acquired a new stake in Carrols Restaurant Group in the 3rd quarter valued at about $167,000. Finally, Macquarie Group Ltd. acquired a new stake in Carrols Restaurant Group in the 2nd quarter valued at about $207,000. 86.60% of the stock is currently owned by institutional investors.
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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