SunTrust Banks Analysts Boost Earnings Estimates for Cracker Barrel Old Country Store, Inc. (CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) – Stock analysts at SunTrust Banks lifted their Q3 2018 earnings per share (EPS) estimates for shares of Cracker Barrel Old Country Store in a research note issued on Tuesday. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will post earnings per share of $2.34 for the quarter, up from their previous forecast of $1.92. SunTrust Banks currently has a “Hold” rating and a $163.00 price objective 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.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Maxim Group restated a “hold” rating and set a $160.00 target price on shares of Cracker Barrel Old Country Store in a research note on Wednesday, November 22nd. Longbow Research lowered shares of Cracker Barrel Old Country Store from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 22nd. 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 note on Thursday, September 14th. Finally, 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 note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $158.63.

Shares of Cracker Barrel Old Country Store (NASDAQ:CBRL) opened at $167.24 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.42 and a current ratio of 0.93. Cracker Barrel Old Country Store has a one year low of $141.75 and a one year high of $170.50. The firm has a market cap of $3,935.86, a P/E ratio of 19.79, a P/E/G ratio of 2.75 and a beta of 0.46.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, November 21st. The restaurant operator reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.06. Cracker Barrel Old Country Store had a net margin of 6.83% and a return on equity of 35.14%. The firm had revenue of $710.40 million for the quarter, compared to analyst estimates of $718.85 million. During the same period in the prior year, the firm earned $2.01 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year.

A number of institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its stake in Cracker Barrel Old Country Store by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,001 shares of the restaurant operator’s stock valued at $335,000 after purchasing an additional 18 shares during the last quarter. Stephens Inc. AR increased its stake in Cracker Barrel Old Country Store by 0.6% in the second quarter. Stephens Inc. AR now owns 5,025 shares of the restaurant operator’s stock valued at $840,000 after purchasing an additional 31 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cracker Barrel Old Country Store by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 738 shares of the restaurant operator’s stock valued at $123,000 after purchasing an additional 61 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Cracker Barrel Old Country Store by 8.6% in the second quarter. Public Employees Retirement System of Ohio now owns 1,117 shares of the restaurant operator’s stock valued at $187,000 after purchasing an additional 88 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Cracker Barrel Old Country Store by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 8,853 shares of the restaurant operator’s stock valued at $1,481,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 88.87% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Friday, January 12th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $4.80 annualized dividend and a yield of 2.87%. Cracker Barrel Old Country Store’s dividend payout ratio is currently 57.90%.

Cracker Barrel Old Country Store declared that its Board of Directors has approved a stock buyback plan on Friday, September 29th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 0.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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Cracker Barrel Old Country Store Company Profile

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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