Q3 2018 EPS Estimates for Cracker Barrel Old Country Store, Inc. (CBRL) Raised by SunTrust Banks

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) – Research analysts at SunTrust Banks upped their Q3 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 post earnings per share of $2.34 for the quarter, up from their prior forecast of $1.92. SunTrust Banks currently has a “Hold” rating and a $163.00 target price on the stock. SunTrust Banks also issued estimates for Cracker Barrel Old Country Store’s Q4 2018 earnings at $2.94 EPS, FY2018 earnings at $9.35 EPS and FY2019 earnings at $10.40 EPS.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Tuesday, November 21st. The restaurant operator reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.06. The firm had revenue of $710.40 million for the quarter, compared to the consensus estimate of $718.85 million. Cracker Barrel Old Country Store had a net margin of 6.83% and a return on equity of 35.14%. Cracker Barrel Old Country Store’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $2.01 EPS.

CBRL has been the subject of several other reports. Maxim Group restated a “hold” rating and set a $155.00 price target (down from $170.00) on shares of Cracker Barrel Old Country Store in a report on Thursday, September 7th. Nomura cut their target price on shares of Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating on the stock in a research report on Thursday, September 14th. Bank of America cut their target price on shares of Cracker Barrel Old Country Store from $150.00 to $140.00 and set an “underperform” rating on the stock in a research report on Monday, September 11th. Instinet restated a “neutral” rating and set a $158.00 target price (down from $162.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 14th. Finally, Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating and set a $173.00 target price on the stock in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $158.63.

Cracker Barrel Old Country Store (NASDAQ:CBRL) traded up $1.73 during trading on Friday, hitting $165.76. 61,428 shares of the stock traded hands, compared to its average volume of 222,833. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.42 and a current ratio of 0.93. The stock has a market capitalization of $3,980.00, a P/E ratio of 20.00, a P/E/G ratio of 2.86 and a beta of 0.46. Cracker Barrel Old Country Store has a 1-year low of $141.75 and a 1-year high of $170.50.

Hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. acquired a new position in Cracker Barrel Old Country Store in the second quarter valued at approximately $701,000. HighTower Advisors LLC grew its stake in shares of Cracker Barrel Old Country Store by 53.0% in the second quarter. HighTower Advisors LLC now owns 3,589 shares of the restaurant operator’s stock worth $607,000 after acquiring an additional 1,244 shares in the last quarter. AXA grew its stake in shares of Cracker Barrel Old Country Store by 49.3% in the third quarter. AXA now owns 105,700 shares of the restaurant operator’s stock worth $16,026,000 after acquiring an additional 34,900 shares in the last quarter. Aperio Group LLC grew its stake in shares of Cracker Barrel Old Country Store by 24.3% in the third quarter. Aperio Group LLC now owns 40,273 shares of the restaurant operator’s stock worth $6,106,000 after acquiring an additional 7,869 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of Cracker Barrel Old Country Store in the third quarter worth $1,061,000. 88.87% of the stock is owned by institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Friday, January 12th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $4.80 dividend on an annualized basis and a yield of 2.90%. Cracker Barrel Old Country Store’s payout ratio is presently 57.90%.

Cracker Barrel Old Country Store declared that its board has approved a stock buyback program on Friday, September 29th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire up to 0.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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About Cracker Barrel Old Country Store

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.

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

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