Cracker Barrel Old Country Store (NASDAQ:CBRL) Issues FY20 Earnings Guidance
Cracker Barrel Old Country Store (NASDAQ:CBRL) updated its FY20 earnings guidance on Tuesday. The company provided EPS guidance of $9.30-9.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $9.29. The company issued revenue guidance of $3.15-3.20 billion, compared to the consensus revenue estimate of $3.15 billion.Cracker Barrel Old Country Store also updated its FY 2020 guidance to $8.80-8.95 EPS.
A number of research firms have weighed in on CBRL. ValuEngine downgraded Cracker Barrel Old Country Store from a buy rating to a hold rating in a research report on Thursday, August 1st. BidaskClub raised Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Wednesday. Wells Fargo & Co reaffirmed a market perform rating and set a $155.00 price target (up previously from $150.00) on shares of Cracker Barrel Old Country Store in a research report on Wednesday. Maxim Group set a $195.00 price target on Cracker Barrel Old Country Store and gave the stock a buy rating in a research report on Sunday. Finally, Zacks Investment Research raised Cracker Barrel Old Country Store from a sell rating to a hold rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Cracker Barrel Old Country Store has a consensus rating of Hold and a consensus target price of $172.82.
Shares of Cracker Barrel Old Country Store stock opened at $165.46 on Thursday. Cracker Barrel Old Country Store has a 12-month low of $142.17 and a 12-month high of $185.00. The stock has a market cap of $3.96 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.82 and a beta of 0.59. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $166.40 and its 200-day moving average is $165.01.
Cracker Barrel Old Country Store announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 4th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other news, major shareholder Sardar Biglari sold 13,887 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $169.97, for a total transaction of $2,360,373.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 999,601 shares of company stock worth $171,537,766. Company insiders own 0.88% of the company’s stock.
About Cracker Barrel Old Country Store
Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.
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