Truist Securities Research Analysts Lower Earnings Estimates for Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) – Stock analysts at Truist Securities dropped their Q4 2022 EPS estimates for Cracker Barrel Old Country Store in a note issued to investors on Wednesday, January 12th. Truist Securities analyst J. Bartlett now forecasts that the restaurant operator will post earnings per share of $2.44 for the quarter, down from their previous estimate of $2.66. Truist Securities also issued estimates for Cracker Barrel Old Country Store’s FY2023 earnings at $8.21 EPS.

CBRL has been the subject of several other reports. Wells Fargo & Company increased their price objective on Cracker Barrel Old Country Store from $137.00 to $139.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 22nd. Loop Capital started coverage on Cracker Barrel Old Country Store in a report on Wednesday, October 13th. They set a “hold” rating and a $140.00 price objective for the company. MKM Partners reduced their price objective on Cracker Barrel Old Country Store from $155.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, November 24th. Benchmark started coverage on Cracker Barrel Old Country Store in a report on Thursday, December 2nd. They set a “hold” rating for the company. Finally, TheStreet lowered Cracker Barrel Old Country Store from a “b” rating to a “c+” rating in a report on Friday, December 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $147.20.

CBRL stock opened at $129.15 on Thursday. The company has a market cap of $3.04 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.42. Cracker Barrel Old Country Store has a fifty-two week low of $117.10 and a fifty-two week high of $178.82. The stock’s 50 day simple moving average is $131.52 and its 200 day simple moving average is $136.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.44 and a current ratio of 0.79.

Cracker Barrel Old Country Store (NASDAQ:CBRL) last posted its quarterly earnings results on Tuesday, November 23rd. The restaurant operator reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.03). Cracker Barrel Old Country Store had a return on equity of 22.21% and a net margin of 3.96%. The firm had revenue of $784.90 million for the quarter, compared to analyst estimates of $768.67 million. During the same period last year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of CBRL. American Century Companies Inc. raised its position in shares of Cracker Barrel Old Country Store by 818.2% in the third quarter. American Century Companies Inc. now owns 568,654 shares of the restaurant operator’s stock worth $79,521,000 after buying an additional 506,721 shares in the last quarter. Macquarie Group Ltd. raised its position in Cracker Barrel Old Country Store by 56.3% during the second quarter. Macquarie Group Ltd. now owns 876,664 shares of the restaurant operator’s stock valued at $130,150,000 after purchasing an additional 315,645 shares in the last quarter. William Blair Investment Management LLC raised its position in Cracker Barrel Old Country Store by 49,592.2% during the third quarter. William Blair Investment Management LLC now owns 285,730 shares of the restaurant operator’s stock valued at $39,956,000 after purchasing an additional 285,155 shares in the last quarter. Invesco Ltd. raised its position in Cracker Barrel Old Country Store by 840.6% during the second quarter. Invesco Ltd. now owns 315,968 shares of the restaurant operator’s stock valued at $46,909,000 after purchasing an additional 282,377 shares in the last quarter. Finally, Millennium Management LLC raised its position in Cracker Barrel Old Country Store by 262.0% during the second quarter. Millennium Management LLC now owns 64,815 shares of the restaurant operator’s stock valued at $9,622,000 after purchasing an additional 104,815 shares in the last quarter. Institutional investors own 83.59% of the company’s stock.

Cracker Barrel Old Country Store announced that its board has authorized a share buyback plan on Tuesday, September 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Investors of record on Friday, January 14th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.03%. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 105.26%.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc engages in the operation and development of restaurant and retail outlets. The format of its stores consists of a trademarked rustic old country-store design that offers restaurant menu featuring home-style country food. The company was founded by Dan W. Evins on September 19, 1969 and is headquartered in Lebanon, TN.

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

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