Cracker Barrel Old Country Store, Inc. (CBRL) to Post Q2 2018 Earnings of $2.10 Per Share, SunTrust Banks Forecasts
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) – Equities research analysts at SunTrust Banks boosted their Q2 2018 earnings estimates for shares of Cracker Barrel Old Country Store in a report issued on Tuesday. SunTrust Banks analyst J. Bartlett now anticipates that the restaurant operator will earn $2.10 per share for the quarter, up from their previous estimate of $2.09. SunTrust Banks has a “Hold” rating and a $136.00 price target on the stock. SunTrust Banks also issued estimates for Cracker Barrel Old Country Store’s Q4 2018 earnings at $2.67 EPS and FY2019 earnings at $8.70 EPS.
Other equities research analysts have also recently issued reports about the stock. Maxim Group reiterated a “hold” rating and issued a $155.00 price target (down from $170.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 7th. Zacks Investment Research downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Friday. Instinet restated a “neutral” rating and set a $158.00 price objective (down previously from $162.00) on shares of Cracker Barrel Old Country Store in a report on Thursday, September 14th. Nomura lowered their target price on Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, September 14th. Finally, BidaskClub cut Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $160.20.
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Shares of Cracker Barrel Old Country Store (CBRL) opened at $158.70 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.54. Cracker Barrel Old Country Store has a 1 year low of $141.75 and a 1 year high of $175.04. The company has a market cap of $3,780.00, a PE ratio of 18.78, a price-to-earnings-growth ratio of 2.64 and a beta of 0.48.
Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.05. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The business had revenue of $743.20 million for the quarter, compared to analysts’ expectations of $746.72 million. During the same period in the previous year, the business earned $2.12 earnings per share. The company’s revenue was down .3% on a year-over-year basis.
Cracker Barrel Old Country Store declared that its board has authorized a stock repurchase plan on Friday, September 29th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 0.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Friday, October 13th were paid a $1.20 dividend. The ex-dividend date was Thursday, October 12th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.02%. Cracker Barrel Old Country Store’s payout ratio is 57.35%.
In other Cracker Barrel Old Country Store news, CEO Sandra B. Cochran sold 36,794 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $151.67, for a total value of $5,580,545.98. Following the sale, the chief executive officer now directly owns 157,591 shares in the company, valued at $23,901,826.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea Weiss sold 2,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $153.39, for a total value of $306,780.00. Following the completion of the sale, the director now owns 11,758 shares in the company, valued at $1,803,559.62. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. APG Asset Management N.V. bought a new stake in shares of Cracker Barrel Old Country Store during the third quarter worth $25,775,000. JLB & Associates Inc. bought a new position in Cracker Barrel Old Country Store in the second quarter valued at about $8,181,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in Cracker Barrel Old Country Store by 920.9% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 53,801 shares of the restaurant operator’s stock valued at $8,996,000 after acquiring an additional 48,531 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Cracker Barrel Old Country Store by 5.5% in the third quarter. Wells Fargo & Company MN now owns 736,094 shares of the restaurant operator’s stock valued at $111,607,000 after buying an additional 38,517 shares during the period. Finally, AXA lifted its stake in Cracker Barrel Old Country Store by 117.8% in the second quarter. AXA now owns 70,800 shares of the restaurant operator’s stock valued at $11,842,000 after buying an additional 38,300 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Cracker Barrel Old Country Store Company Profile
Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.
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