Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Expected to Announce Earnings of $2.31 Per Share

Analysts expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to post $2.31 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cracker Barrel Old Country Store’s earnings, with estimates ranging from $1.57 to $2.91. Cracker Barrel Old Country Store reported earnings per share of $0.70 during the same quarter last year, which would indicate a positive year-over-year growth rate of 230%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 22nd.

On average, analysts expect that Cracker Barrel Old Country Store will report full year earnings of $8.52 per share for the current fiscal year, with EPS estimates ranging from $7.80 to $9.02. For the next fiscal year, analysts anticipate that the firm will report earnings of $8.87 per share, with EPS estimates ranging from $8.33 to $9.16. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Cracker Barrel Old Country Store.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its earnings results on Monday, November 22nd. The restaurant operator reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.03). The firm had revenue of $784.90 million during the quarter, compared to analysts’ expectations of $768.67 million. Cracker Barrel Old Country Store had a return on equity of 19.44% and a net margin of 9.02%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share.

Several research analysts have commented on CBRL shares. MKM Partners cut their price objective on Cracker Barrel Old Country Store from $155.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday. Bank of America initiated coverage on Cracker Barrel Old Country Store in a research note on Tuesday, October 26th. They issued a “neutral” rating and a $148.00 price target for the company. Truist Securities decreased their price target on Cracker Barrel Old Country Store from $152.00 to $146.00 and set a “hold” rating for the company in a research note on Wednesday. Wells Fargo & Company lifted their target price on Cracker Barrel Old Country Store from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Wednesday, September 22nd. Finally, TheStreet raised Cracker Barrel Old Country Store from a “c+” rating to a “b” rating in a report on Wednesday, November 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $150.70.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC bought a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at $1,145,000. M&G Investment Management Ltd. bought a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at $7,528,000. SG3 Management LLC increased its holdings in shares of Cracker Barrel Old Country Store by 23.1% in the second quarter. SG3 Management LLC now owns 40,000 shares of the restaurant operator’s stock valued at $5,938,000 after buying an additional 7,500 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of Cracker Barrel Old Country Store in the second quarter valued at $4,194,000. Finally, Teza Capital Management LLC grew its position in Cracker Barrel Old Country Store by 846.5% during the 2nd quarter. Teza Capital Management LLC now owns 16,677 shares of the restaurant operator’s stock worth $2,476,000 after purchasing an additional 14,915 shares in the last quarter. 89.12% of the stock is currently owned by institutional investors.

Shares of CBRL traded up $1.77 during trading hours on Thursday, hitting $132.22. The stock had a trading volume of 394,931 shares, compared to its average volume of 301,356. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.76. The firm has a market cap of $3.11 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.14 and a beta of 1.43. The company’s fifty day simple moving average is $139.14 and its 200 day simple moving average is $143.59. Cracker Barrel Old Country Store has a 12-month low of $123.74 and a 12-month high of $178.82.

Cracker Barrel Old Country Store announced that its Board of Directors has approved a stock buyback program on Tuesday, September 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the restaurant operator to buy up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 14th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $5.20 annualized dividend and a yield of 3.93%. Cracker Barrel Old Country Store’s payout ratio is 48.55%.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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

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