Wall Street brokerages expect Carrols Restaurant Group Inc (NASDAQ:TAST) to report sales of $396.93 million for the current quarter, Zacks reports. Two analysts have made estimates for Carrols Restaurant Group’s earnings, with the highest sales estimate coming in at $398.02 million and the lowest estimate coming in at $395.83 million. Carrols Restaurant Group reported sales of $296.92 million in the same quarter last year, which indicates a positive year over year growth rate of 33.7%. The company is scheduled to announce its next earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that Carrols Restaurant Group will report full-year sales of $1.46 billion for the current fiscal year. For the next fiscal year, analysts expect that the company will report sales of $1.67 billion, with estimates ranging from $1.62 billion to $1.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Thursday, August 8th. The restaurant operator reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07). The company had revenue of $368.56 million during the quarter, compared to analysts’ expectations of $366.91 million. Carrols Restaurant Group had a positive return on equity of 0.19% and a negative net margin of 0.77%. The company’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS.
TAST has been the subject of several analyst reports. Dougherty & Co reissued a “buy” rating and issued a $16.00 price objective on shares of Carrols Restaurant Group in a research note on Thursday, May 9th. BidaskClub raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Zacks Investment Research raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Carrols Restaurant Group has an average rating of “Buy” and a consensus price target of $13.38.
NASDAQ TAST traded down $0.39 during trading on Friday, hitting $7.13. The stock had a trading volume of 19,748 shares, compared to its average volume of 307,662. The company has a debt-to-equity ratio of 4.38, a current ratio of 0.29 and a quick ratio of 0.21. The stock has a market cap of $365.62 million, a PE ratio of 23.85 and a beta of 0.44. Carrols Restaurant Group has a one year low of $7.33 and a one year high of $16.40. The firm’s 50 day moving average price is $8.92.
In other Carrols Restaurant Group news, VP Richard G. Cross sold 14,600 shares of Carrols Restaurant Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $8.63, for a total value of $125,998.00. Following the transaction, the vice president now directly owns 185,698 shares of the company’s stock, valued at $1,602,573.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander R. Sloane purchased 11,709 shares of the business’s stock in a transaction on Monday, May 20th. The stock was purchased at an average cost of $8.56 per share, for a total transaction of $100,229.04. Following the completion of the acquisition, the director now directly owns 5,258 shares of the company’s stock, valued at approximately $45,008.48. The disclosure for this purchase can be found here. Insiders own 22.00% of the company’s stock.
Several institutional investors have recently modified their holdings of TAST. Bank of Montreal Can purchased a new stake in shares of Carrols Restaurant Group in the 2nd quarter valued at approximately $27,000. 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 worth $30,000 after purchasing an additional 2,561 shares during the period. Macquarie Group Ltd. boosted its position in shares of Carrols Restaurant Group by 43.7% during the 4th quarter. Macquarie Group Ltd. now owns 5,264 shares of the restaurant operator’s stock worth $52,000 after purchasing an additional 1,600 shares during the period. Legal & General Group Plc boosted its position in shares of Carrols Restaurant Group by 31.7% during the 4th quarter. Legal & General Group Plc now owns 6,502 shares of the restaurant operator’s stock worth $64,000 after purchasing an additional 1,564 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Carrols Restaurant Group by 202.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the restaurant operator’s stock worth $72,000 after purchasing an additional 4,838 shares during the period. Institutional investors and hedge funds own 72.89% of the company’s stock.
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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