Wall Street analysts expect Carrols Restaurant Group, Inc. (NASDAQ:TAST) to announce $307.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Carrols Restaurant Group’s earnings. The lowest sales estimate is $305.74 million and the highest is $308.51 million. Carrols Restaurant Group reported sales of $283.97 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.2%. The business is scheduled to issue its next 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 year, analysts expect that the company will post sales of $1.28 billion, with estimates ranging from $1.25 billion to $1.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last announced its earnings results on Tuesday, November 6th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Carrols Restaurant Group had a return on equity of 8.75% and a net margin of 1.06%. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $298.52 million. During the same quarter in the prior year, the company earned $0.08 EPS. The business’s revenue was up 4.2% compared to the same quarter last year.
Several research analysts have recently issued reports on the company. BidaskClub lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Zacks Investment Research raised Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Friday, August 10th. SunTrust Banks reissued a “buy” rating and issued a $19.00 target price on shares of Carrols Restaurant Group in a research report on Wednesday, August 8th. Citigroup increased 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. Finally, ValuEngine lowered Carrols Restaurant Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Carrols Restaurant Group currently has a consensus rating of “Hold” and a consensus target price of $18.33.
Shares of NASDAQ:TAST opened at $11.30 on Wednesday. Carrols Restaurant Group has a 52-week low of $10.00 and a 52-week high of $16.40. The company has a market capitalization of $421.66 million, a PE ratio of 56.50, a PEG ratio of 1.71 and a beta of 0.51. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.94 and a quick ratio of 0.83.
In related news, 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 transaction of $122,025.00. Following the completion of the transaction, the chief financial officer now owns 305,811 shares of the company’s stock, valued at approximately $4,975,544.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William E. Myers sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $16.10, for a total value of $32,200.00. Following the transaction, the vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $1,165,978.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,001 shares of company stock valued at $431,616. 4.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Carrols Restaurant Group by 13.1% during the 3rd quarter. BlackRock Inc. now owns 3,279,129 shares of the restaurant operator’s stock valued at $47,876,000 after buying an additional 378,788 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 worth $35,012,000 after purchasing an additional 49,309 shares in the last quarter. FMR LLC increased its holdings 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 worth $15,386,000 after purchasing an additional 241,400 shares in the last quarter. Royce & Associates LP increased its holdings 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 worth $13,564,000 after purchasing an additional 121,700 shares in the last quarter. Finally, Portolan Capital Management LLC increased its holdings 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 worth $10,566,000 after purchasing an additional 660,116 shares in the last quarter. 85.84% of the stock is owned by institutional investors.
Carrols Restaurant Group Company Profile
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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