Zacks: Analysts Expect Carrols Restaurant Group, Inc. (TAST) Will Announce Earnings of $0.09 Per Share

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Analysts expect that Carrols Restaurant Group, Inc. (NASDAQ:TAST) will report earnings of $0.09 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Carrols Restaurant Group’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.10. Carrols Restaurant Group reported earnings of $0.08 per share in the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next earnings results on Wednesday, November 14th.

On average, analysts expect that Carrols Restaurant Group will report full-year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.29 to $0.42. For the next fiscal year, analysts forecast that the business will report earnings of $0.43 per share, with EPS estimates ranging from $0.35 to $0.52. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Carrols Restaurant Group.

Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Tuesday, August 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Carrols Restaurant Group had a net margin of 1.00% and a return on equity of 8.53%. The company had revenue of $303.05 million during the quarter, compared to analysts’ expectations of $301.21 million.

TAST has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Carrols Restaurant Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 7th. BidaskClub cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Citigroup raised their price objective on shares of Carrols Restaurant Group from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $19.00 price objective on shares of Carrols Restaurant Group in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Carrols Restaurant Group currently has a consensus rating of “Hold” and an average target price of $18.33.

In related news, VP William E. Myers sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $16.10, for a total value of $32,200.00. Following the completion of the sale, the vice president now owns 72,421 shares in the company, valued at $1,165,978.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William E. Myers sold 18,300 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $15.57, for a total transaction of $284,931.00. Following the completion of the sale, the vice president now owns 87,273 shares of the company’s stock, valued at approximately $1,358,840.61. The disclosure for this sale can be found here. Insiders sold 63,439 shares of company stock valued at $1,000,769 in the last quarter. Company insiders own 4.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vident Investment Advisory LLC lifted its stake in shares of Carrols Restaurant Group by 7.5% in the second quarter. Vident Investment Advisory LLC now owns 46,159 shares of the restaurant operator’s stock valued at $685,000 after purchasing an additional 3,203 shares during the period. Advisors Asset Management Inc. increased its holdings in Carrols Restaurant Group by 20.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 22,211 shares of the restaurant operator’s stock valued at $214,000 after acquiring an additional 3,739 shares in the last quarter. Barclays PLC increased its holdings in Carrols Restaurant Group by 79.3% during the 1st quarter. Barclays PLC now owns 11,605 shares of the restaurant operator’s stock valued at $130,000 after acquiring an additional 5,131 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Carrols Restaurant Group by 83.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,224 shares of the restaurant operator’s stock valued at $249,000 after acquiring an additional 10,110 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Carrols Restaurant Group during the 1st quarter valued at about $115,000. Hedge funds and other institutional investors own 86.42% of the company’s stock.

Shares of TAST stock traded down $0.64 during mid-day trading on Friday, hitting $13.66. The stock had a trading volume of 170,900 shares, compared to its average volume of 253,643. Carrols Restaurant Group has a fifty-two week low of $9.90 and a fifty-two week high of $16.40. The stock has a market capitalization of $526.16 million, a PE ratio of 68.30, a price-to-earnings-growth ratio of 2.07 and a beta of 0.31. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of July 1, 2018, it owned and operated 807 BURGER KING restaurants. The company was founded in 1960 and is headquartered in Syracuse, New York.

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