Carrols Restaurant Group Inc (NASDAQ:TAST) Expected to Post Quarterly Sales of $409.72 Million

Brokerages forecast that Carrols Restaurant Group Inc (NASDAQ:TAST) will post sales of $409.72 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Carrols Restaurant Group’s earnings, with estimates ranging from $408.57 million to $411.50 million. Carrols Restaurant Group posted sales of $307.75 million during the same quarter last year, which suggests a positive year over year growth rate of 33.1%. The business is scheduled to issue its next earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that Carrols Restaurant Group will report full year sales of $1.37 billion for the current year, with estimates ranging from $1.18 billion to $1.47 billion. For the next year, analysts expect that the company will post sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.77 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Carrols Restaurant Group.

Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Thursday, November 7th. The restaurant operator reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.19). The company had revenue of $398.40 million during the quarter, compared to analysts’ expectations of $400.92 million. Carrols Restaurant Group had a negative net margin of 1.48% and a negative return on equity of 3.00%. Carrols Restaurant Group’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS.

Several brokerages have recently issued reports on TAST. Deutsche Bank assumed coverage on Carrols Restaurant Group in a research report on Wednesday, September 4th. They issued a “buy” rating and a $9.00 price objective on the stock. Raymond James dropped their price objective on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Zacks Investment Research raised shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. BidaskClub upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Craig Hallum began coverage on shares of Carrols Restaurant Group in a research note on Wednesday, November 27th. They set a “buy” rating and a $11.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Carrols Restaurant Group currently has an average rating of “Buy” and a consensus target price of $11.10.

A number of institutional investors and hedge funds have recently modified their holdings of TAST. Millennium Management LLC boosted its holdings in shares of Carrols Restaurant Group by 45.7% during the third quarter. Millennium Management LLC now owns 414,255 shares of the restaurant operator’s stock worth $3,434,000 after purchasing an additional 129,849 shares during the last quarter. Man Group plc increased its stake in Carrols Restaurant Group by 82.1% in the third quarter. Man Group plc now owns 335,634 shares of the restaurant operator’s stock valued at $2,782,000 after purchasing an additional 151,277 shares during the last quarter. Private Capital Management LLC lifted its position in Carrols Restaurant Group by 10.9% during the third quarter. Private Capital Management LLC now owns 2,814,706 shares of the restaurant operator’s stock worth $23,334,000 after buying an additional 277,221 shares during the period. Equitable Trust Co. lifted its position in Carrols Restaurant Group by 12.2% during the third quarter. Equitable Trust Co. now owns 153,935 shares of the restaurant operator’s stock worth $1,276,000 after buying an additional 16,735 shares during the period. Finally, AJ Wealth Strategies LLC boosted its stake in Carrols Restaurant Group by 113.7% in the 3rd quarter. AJ Wealth Strategies LLC now owns 25,024 shares of the restaurant operator’s stock worth $207,000 after buying an additional 13,315 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Carrols Restaurant Group stock traded up $0.13 during mid-day trading on Monday, hitting $7.23. 482,835 shares of the company were exchanged, compared to its average volume of 405,895. Carrols Restaurant Group has a 12-month low of $6.23 and a 12-month high of $11.56. The company has a market capitalization of $374.86 million, a P/E ratio of 24.10 and a beta of 0.55. The business’s 50 day simple moving average is $7.61 and its two-hundred day simple moving average is $8.12. The company has a debt-to-equity ratio of 3.92, a current ratio of 0.29 and a quick ratio of 0.20.

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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