Zacks: Brokerages Anticipate Carrols Restaurant Group, Inc. (TAST) Will Announce Quarterly Sales of $274.78 Million
Equities research analysts expect Carrols Restaurant Group, Inc. (NASDAQ:TAST) to post sales of $274.78 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Carrols Restaurant Group’s earnings. The highest sales estimate is $277.86 million and the lowest is $271.7 million. Carrols Restaurant Group posted sales of $241.37 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.8%. The firm is scheduled to announce its next earnings report on Tuesday, August 8th.
On average, analysts expect that Carrols Restaurant Group will report full year sales of $274.78 million for the current year, with estimates ranging from $1.04 billion to $1.05 billion. For the next financial year, analysts anticipate that the business will report sales of $1.09 billion per share, with estimates ranging from $1.08 billion to $1.1 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last announced its quarterly earnings data on Tuesday, May 9th. The restaurant operator reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.06. Carrols Restaurant Group had a return on equity of 23.60% and a net margin of 2.47%. The firm had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $236.05 million. The business’s quarterly revenue was up 7.8% on a year-over-year basis.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Carrols Restaurant Group from a “buy” rating to a “hold” rating in a research note on Friday, March 3rd. Dougherty & Co restated a “buy” rating and issued a $17.00 target price (down from $18.50) on shares of Carrols Restaurant Group in a research note on Friday, March 3rd.
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Shares of Carrols Restaurant Group (NASDAQ:TAST) traded down 1.87% during trading on Wednesday, reaching $13.10. 119,587 shares of the company were exchanged. The company’s 50-day moving average is $13.78 and its 200 day moving average is $14.17. The firm has a market capitalization of $461.88 million, a PE ratio of 16.69 and a beta of -0.10. Carrols Restaurant Group has a 1-year low of $9.60 and a 1-year high of $17.55.
In other Carrols Restaurant Group news, CEO Daniel T. Accordino sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $14.32, for a total value of $171,840.00. Following the completion of the transaction, the chief executive officer now owns 1,161,640 shares of the company’s stock, valued at $16,634,684.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Timothy Lalonde sold 13,617 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $13.96, for a total transaction of $190,093.32. Following the completion of the transaction, the vice president now directly owns 105,153 shares of the company’s stock, valued at approximately $1,467,935.88. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Menta Capital LLC boosted its position in Carrols Restaurant Group by 53.4% in the fourth quarter. Menta Capital LLC now owns 200,253 shares of the restaurant operator’s stock worth $3,054,000 after buying an additional 69,733 shares in the last quarter. Brown Advisory Inc. boosted its position in Carrols Restaurant Group by 58.7% in the fourth quarter. Brown Advisory Inc. now owns 1,547,309 shares of the restaurant operator’s stock worth $23,597,000 after buying an additional 572,442 shares in the last quarter. FMR LLC boosted its position in Carrols Restaurant Group by 13.2% in the fourth quarter. FMR LLC now owns 1,005,896 shares of the restaurant operator’s stock worth $15,340,000 after buying an additional 117,316 shares in the last quarter. Martingale Asset Management L P boosted its position in Carrols Restaurant Group by 2.8% in the fourth quarter. Martingale Asset Management L P now owns 158,915 shares of the restaurant operator’s stock worth $2,424,000 after buying an additional 4,399 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Carrols Restaurant Group by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,676,459 shares of the restaurant operator’s stock worth $25,566,000 after buying an additional 84,875 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.
Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.
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