$292.57 Million in Sales Expected for Carrols Restaurant Group, Inc. (TAST) This Quarter
Equities research analysts predict that Carrols Restaurant Group, Inc. (NASDAQ:TAST) will report sales of $292.57 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Carrols Restaurant Group’s earnings. The lowest sales estimate is $292.34 million and the highest is $292.80 million. Carrols Restaurant Group posted sales of $271.59 million during the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The business is scheduled to announce its next earnings results on Tuesday, May 14th.
On average, analysts expect that Carrols Restaurant Group will report full-year sales of $1.46 billion for the current year. For the next year, analysts expect that the company will report sales of $1.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings results on Wednesday, February 27th. The restaurant operator reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). Carrols Restaurant Group had a return on equity of 7.64% and a net margin of 0.86%. The company had revenue of $307.75 million for the quarter, compared to the consensus estimate of $346.38 million. During the same period in the previous year, the business posted $0.08 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in Carrols Restaurant Group by 14.1% in the 3rd quarter. Wells Fargo & Company MN now owns 72,260 shares of the restaurant operator’s stock worth $1,056,000 after purchasing an additional 8,913 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Carrols Restaurant Group in the 3rd quarter worth approximately $860,000. SG Americas Securities LLC purchased a new position in Carrols Restaurant Group in the 3rd quarter worth approximately $641,000. JPMorgan Chase & Co. lifted its holdings in Carrols Restaurant Group by 212.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 122,101 shares of the restaurant operator’s stock worth $1,783,000 after purchasing an additional 83,029 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Carrols Restaurant Group by 56.7% in the 3rd quarter. Prudential Financial Inc. now owns 157,304 shares of the restaurant operator’s stock worth $2,297,000 after purchasing an additional 56,898 shares in the last quarter. 89.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TAST stock opened at $9.66 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.30 and a debt-to-equity ratio of 1.56. Carrols Restaurant Group has a one year low of $8.42 and a one year high of $16.40. The stock has a market cap of $357.46 million, a PE ratio of 32.20, a P/E/G ratio of 1.74 and a beta of 0.31.
Carrols Restaurant Group Company Profile
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.
See Also: Call Option
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.