Equities research analysts forecast that Carrols Restaurant Group Inc (NASDAQ:TAST) will report sales of $399.55 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Carrols Restaurant Group’s earnings, with estimates ranging from $398.02 million to $401.80 million. Carrols Restaurant Group posted sales of $296.92 million during the same quarter last year, which suggests a positive year over year growth rate of 34.6%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that Carrols Restaurant Group will report full year sales of $1.46 billion for the current fiscal year, with estimates ranging from $1.46 billion to $1.47 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.66 billion, with estimates ranging from $1.63 billion to $1.72 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings data on Thursday, August 8th. The restaurant operator reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.07). Carrols Restaurant Group had a positive return on equity of 0.16% and a negative net margin of 0.77%. The firm had revenue of $368.56 million during the quarter, compared to analyst estimates of $366.91 million. During the same period last year, the business earned $0.22 EPS. The firm’s revenue was up 21.6% on a year-over-year basis.
A number of analysts recently weighed in on the stock. Deutsche Bank assumed coverage on shares of Carrols Restaurant Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price objective on the stock. BidaskClub cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Zacks Investment Research cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Finally, Raymond James dropped their price objective on shares of Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.70.
In other Carrols Restaurant Group news, VP Richard G. Cross sold 14,600 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $8.63, for a total transaction of $125,998.00. Following the transaction, the vice president now owns 185,698 shares of the company’s stock, valued at approximately $1,602,573.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexander R. Sloane bought 13,315 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $7.54 per share, for a total transaction of $100,395.10. Following the purchase, the director now owns 11,909 shares in the company, valued at approximately $89,793.86. The disclosure for this purchase can be found here. 22.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Creative Planning boosted its position in shares of Carrols Restaurant Group by 12.6% during the 2nd quarter. Creative Planning now owns 17,365 shares of the restaurant operator’s stock valued at $157,000 after purchasing an additional 1,940 shares in the last quarter. Swiss National Bank boosted its position in shares of Carrols Restaurant Group by 3.3% during the 2nd quarter. Swiss National Bank now owns 65,324 shares of the restaurant operator’s stock valued at $590,000 after purchasing an additional 2,100 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Carrols Restaurant Group by 354.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 2,561 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Carrols Restaurant Group during the 2nd quarter valued at about $27,000. Finally, Royal Bank of Canada boosted its position in shares of Carrols Restaurant Group by 12.8% during the 2nd quarter. Royal Bank of Canada now owns 35,291 shares of the restaurant operator’s stock valued at $318,000 after purchasing an additional 4,016 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TAST stock traded down $0.04 during trading hours on Thursday, reaching $7.53. The stock had a trading volume of 429,361 shares, compared to its average volume of 370,034. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.32 and a quick ratio of 0.22. Carrols Restaurant Group has a twelve month low of $6.23 and a twelve month high of $13.98. The firm has a 50-day simple moving average of $7.75 and a 200-day simple moving average of $8.56. The firm has a market capitalization of $333.67 million, a PE ratio of 25.10 and a beta of 0.55.
Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.
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