Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Expected to Announce Quarterly Sales of $774.40 Million

Brokerages expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to announce sales of $774.40 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cracker Barrel Old Country Store’s earnings, with the lowest sales estimate coming in at $771.20 million and the highest estimate coming in at $777.60 million. Cracker Barrel Old Country Store posted sales of $810.89 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, September 17th.

According to Zacks, analysts expect that Cracker Barrel Old Country Store will report full-year sales of $3.06 billion for the current fiscal year. For the next financial year, analysts forecast that the business will report sales of $3.14 billion, with estimates ranging from $3.12 billion to $3.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Cracker Barrel Old Country Store.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Tuesday, June 4th. The restaurant operator reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.02. Cracker Barrel Old Country Store had a return on equity of 34.36% and a net margin of 7.10%. The company had revenue of $739.60 million for the quarter, compared to analyst estimates of $735.15 million. During the same period in the prior year, the firm earned $2.03 earnings per share. Cracker Barrel Old Country Store’s revenue for the quarter was up 2.5% on a year-over-year basis.

A number of brokerages have recently weighed in on CBRL. BidaskClub lowered Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Wells Fargo & Co upped their target price on Cracker Barrel Old Country Store from $147.00 to $153.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 5th. Zacks Investment Research raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. SunTrust Banks lowered their target price on Cracker Barrel Old Country Store to $161.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Finally, Telsey Advisory Group lowered Cracker Barrel Old Country Store from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $190.00 to $170.00 in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $171.25.

Shares of NASDAQ:CBRL traded down $0.15 during trading on Wednesday, reaching $164.78. 261,646 shares of the stock were exchanged, compared to its average volume of 391,533. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. Cracker Barrel Old Country Store has a 1-year low of $141.63 and a 1-year high of $185.00. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.82 and a beta of 0.54.

The business also recently declared a special dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a $3.00 dividend. This represents a yield of 3%. The ex-dividend date is Thursday, July 18th. Cracker Barrel Old Country Store’s payout ratio is currently 56.37%.

In related news, major shareholder Sardar Biglari sold 2,520 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $169.90, for a total value of $428,148.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chemical Bank raised its position in Cracker Barrel Old Country Store by 4.1% in the 4th quarter. Chemical Bank now owns 1,528 shares of the restaurant operator’s stock valued at $244,000 after buying an additional 60 shares during the last quarter. Comerica Bank raised its position in Cracker Barrel Old Country Store by 0.6% in the 4th quarter. Comerica Bank now owns 12,250 shares of the restaurant operator’s stock valued at $2,070,000 after buying an additional 71 shares during the last quarter. First Republic Investment Management Inc. raised its position in Cracker Barrel Old Country Store by 6.4% in the 1st quarter. First Republic Investment Management Inc. now owns 1,395 shares of the restaurant operator’s stock valued at $225,000 after buying an additional 84 shares during the last quarter. Signaturefd LLC raised its position in Cracker Barrel Old Country Store by 46.4% in the 1st quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 98 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Cracker Barrel Old Country Store by 2.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,043 shares of the restaurant operator’s stock valued at $814,000 after buying an additional 107 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.

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

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