$720.10 Million in Sales Expected for Cracker Barrel Old Country Store, Inc. (CBRL) This Quarter

Wall Street brokerages expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to post sales of $720.10 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Cracker Barrel Old Country Store’s earnings, with the lowest sales estimate coming in at $720.00 million and the highest estimate coming in at $720.20 million. Cracker Barrel Old Country Store reported sales of $709.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.4%. The company is expected to announce its next quarterly earnings report on Tuesday, November 28th.

On average, analysts expect that Cracker Barrel Old Country Store will report full-year sales of $720.10 million for the current financial year, with estimates ranging from $3.06 billion to $3.07 billion. For the next financial year, analysts anticipate that the company will post sales of $3.13 billion per share, with estimates ranging from $3.11 billion to $3.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Cracker Barrel Old Country Store.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last issued its quarterly earnings data on Wednesday, September 13th. The restaurant operator reported $2.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.18 by $0.05. The firm had revenue of $743.20 million during the quarter, compared to analysts’ expectations of $746.72 million. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. Cracker Barrel Old Country Store’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share.

CBRL has been the subject of a number of recent research reports. Nomura initiated coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They issued a “neutral” rating and a $162.00 price objective for the company. BidaskClub cut shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Cracker Barrel Old Country Store from a “hold” rating to a “buy” rating and set a $181.00 price objective for the company in a report on Wednesday, July 12th. Instinet initiated coverage on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 12th. They set a “neutral” rating and a $162.00 price target for the company. Finally, Maxim Group restated a “hold” rating and set a $160.00 price target (up from $155.00) on shares of Cracker Barrel Old Country Store in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Cracker Barrel Old Country Store has a consensus rating of “Hold” and a consensus target price of $161.00.

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In other news, CEO Sandra B. Cochran sold 36,794 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $151.67, for a total transaction of $5,580,545.98. Following the completion of the transaction, the chief executive officer now owns 157,591 shares of the company’s stock, valued at $23,901,826.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Weiss sold 2,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $153.39, for a total transaction of $306,780.00. Following the transaction, the director now directly owns 11,758 shares of the company’s stock, valued at approximately $1,803,559.62. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at about $100,000. Bruderman Asset Management LLC acquired a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at about $111,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cracker Barrel Old Country Store by 9.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 738 shares of the restaurant operator’s stock valued at $123,000 after buying an additional 61 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new position in shares of Cracker Barrel Old Country Store during the second quarter valued at about $127,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cracker Barrel Old Country Store during the third quarter valued at about $159,000. 86.17% of the stock is owned by institutional investors and hedge funds.

Shares of Cracker Barrel Old Country Store (NASDAQ CBRL) opened at $156.07 on Monday. The stock has a market cap of $3,760.40, a price-to-earnings ratio of 18.62, a P/E/G ratio of 2.62 and a beta of 0.48. Cracker Barrel Old Country Store has a fifty-two week low of $131.74 and a fifty-two week high of $175.04. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Cracker Barrel Old Country Store announced that its board has initiated a share buyback plan on Friday, September 29th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the restaurant operator to purchase up to 0.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Friday, October 13th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Thursday, October 12th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is 57.28%.

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.

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

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