$0.09 Earnings Per Share Expected for Carrols Restaurant Group, Inc. (TAST) This Quarter

Wall Street brokerages predict that Carrols Restaurant Group, Inc. (NASDAQ:TAST) will report earnings per share (EPS) of $0.09 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Carrols Restaurant Group’s earnings, with estimates ranging from $0.08 to $0.10. Carrols Restaurant Group posted earnings per share of $0.08 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The company is scheduled to issue its next earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Carrols Restaurant Group will report full year earnings of $0.35 per share for the current year, with EPS estimates ranging from $0.29 to $0.42. For the next year, analysts expect that the company will post earnings of $0.43 per share, with EPS estimates ranging from $0.35 to $0.52. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Carrols Restaurant Group.

Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Tuesday, August 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Carrols Restaurant Group had a net margin of 1.00% and a return on equity of 8.53%. The company had revenue of $303.05 million during the quarter, compared to analysts’ expectations of $301.21 million.

Several analysts have recently commented on TAST shares. BidaskClub cut shares of Carrols Restaurant Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 20th. ValuEngine upgraded shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Zacks Investment Research cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup raised their target price on shares of Carrols Restaurant Group from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Finally, SunTrust Banks restated a “buy” rating and issued a $19.00 target price on shares of Carrols Restaurant Group in a research note on Wednesday, August 8th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.33.

In related news, VP William E. Myers sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $16.10, for a total value of $32,200.00. Following the completion of the sale, the vice president now owns 72,421 shares in the company, valued at $1,165,978.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William E. Myers sold 18,300 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $15.57, for a total transaction of $284,931.00. Following the completion of the sale, the vice president now owns 87,273 shares of the company’s stock, valued at approximately $1,358,840.61. The disclosure for this sale can be found here. Insiders sold 63,439 shares of company stock valued at $1,000,769 in the last quarter. Company insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Carrols Restaurant Group in the first quarter valued at about $115,000. Trexquant Investment LP acquired a new stake in shares of Carrols Restaurant Group in the second quarter valued at about $162,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Carrols Restaurant Group in the second quarter valued at about $170,000. Barclays PLC lifted its stake in shares of Carrols Restaurant Group by 79.3% in the first quarter. Barclays PLC now owns 11,605 shares of the restaurant operator’s stock valued at $130,000 after purchasing an additional 5,131 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of Carrols Restaurant Group in the second quarter valued at about $207,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.

Shares of TAST stock traded down $0.64 during mid-day trading on Friday, hitting $13.66. The stock had a trading volume of 170,900 shares, compared to its average volume of 253,643. Carrols Restaurant Group has a fifty-two week low of $9.90 and a fifty-two week high of $16.40. The stock has a market capitalization of $526.16 million, a PE ratio of 68.30, a price-to-earnings-growth ratio of 2.07 and a beta of 0.31. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

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.

Featured Article: What is the Ex-Dividend Date in Investing?

Get a free copy of the Zacks research report on Carrols Restaurant Group (TAST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Carrols Restaurant Group (NASDAQ:TAST)

Receive News & Ratings for Carrols Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carrols Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply