Equities research analysts expect that Carrols Restaurant Group Inc (NASDAQ:TAST) will announce $405.08 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Carrols Restaurant Group’s earnings, with the lowest sales estimate coming in at $403.69 million and the highest estimate coming in at $406.62 million. Carrols Restaurant Group reported sales of $307.75 million in the same quarter last year, which indicates a positive year-over-year growth rate of 31.6%. The company is expected to issue its next earnings results on Wednesday, February 26th.
On average, analysts expect that Carrols Restaurant Group will report full year sales of $1.46 billion for the current fiscal year, with estimates ranging from $1.46 billion to $1.47 billion. For the next year, analysts forecast that the company will report sales of $1.67 billion, with estimates ranging from $1.63 billion to $1.73 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Carrols Restaurant Group.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Thursday, November 7th. The restaurant operator reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.19). The company had revenue of $398.40 million during the quarter, compared to analyst estimates of $400.92 million. Carrols Restaurant Group had a negative net margin of 0.77% and a positive return on equity of 0.16%. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS.
A number of research firms have recently weighed in on TAST. Zacks Investment Research raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Raymond James cut their price target on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. BidaskClub raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Deutsche Bank began coverage on Carrols Restaurant Group in a research note on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $11.70.
TAST stock opened at $7.57 on Friday. The business’s fifty day moving average is $7.50 and its 200-day moving average is $8.36. The company has a quick ratio of 0.22, a current ratio of 0.32 and a debt-to-equity ratio of 3.73. The company has a market cap of $342.99 million, a P/E ratio of 25.23 and a beta of 0.51. Carrols Restaurant Group has a twelve month low of $6.23 and a twelve month high of $11.89.
In other Carrols Restaurant Group news, Director Alexander R. Sloane acquired 13,315 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $7.54 per share, with a total value of $100,395.10. Following the purchase, the director now owns 11,909 shares of the company’s stock, valued at approximately $89,793.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Spears Abacus Advisors LLC acquired a new stake in Carrols Restaurant Group during the 2nd quarter worth $230,000. Simplex Trading LLC raised its stake in Carrols Restaurant Group by 2,616.7% during the 3rd quarter. Simplex Trading LLC now owns 12,035 shares of the restaurant operator’s stock worth $99,000 after buying an additional 11,592 shares during the period. Ardsley Advisory Partners LP acquired a new stake in Carrols Restaurant Group during the 2nd quarter worth $91,000. Continental Grain Co. raised its stake in Carrols Restaurant Group by 1,278.8% during the 2nd quarter. Continental Grain Co. now owns 1,399,035 shares of the restaurant operator’s stock worth $12,633,000 after buying an additional 1,297,566 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Carrols Restaurant Group during the 2nd quarter worth $90,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.
Carrols Restaurant Group Company Profile
Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.
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