Carrols Restaurant Group, Inc. (TAST) Posts Earnings Results, Misses Expectations By $0.06 EPS

Carrols Restaurant Group, Inc. (NASDAQ:TAST) posted its earnings results on Tuesday. The restaurant operator reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The business had revenue of $239.90 million for the quarter, compared to analyst estimates of $236.05 million. Carrols Restaurant Group had a net margin of 2.47% and a return on equity of 23.60%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis.

Carrols Restaurant Group (NASDAQ:TAST) traded up 0.40% during midday trading on Friday, hitting $12.60. 365,354 shares of the stock traded hands. Carrols Restaurant Group has a 1-year low of $9.60 and a 1-year high of $17.55. The company has a 50-day moving average of $13.65 and a 200-day moving average of $14.15. The stock has a market cap of $446.15 million, a PE ratio of 15.79 and a beta of -0.10.

Earnings History for Carrols Restaurant Group (NASDAQ:TAST)

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In other news, VP Timothy Lalonde sold 13,617 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $13.96, for a total value of $190,093.32. Following the completion of the transaction, the vice president now owns 105,153 shares in the company, valued at approximately $1,467,935.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel T. Accordino sold 12,000 shares of the stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $14.32, for a total transaction of $171,840.00. Following the completion of the transaction, the chief executive officer now owns 1,161,640 shares of the company’s stock, valued at approximately $16,634,684.80. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Carrols Restaurant Group by 37.7% in the third quarter. US Bancorp DE now owns 10,066 shares of the restaurant operator’s stock worth $133,000 after buying an additional 2,756 shares during the period. BlackRock Advisors LLC boosted its stake in shares of Carrols Restaurant Group by 33.7% in the third quarter. BlackRock Advisors LLC now owns 316,620 shares of the restaurant operator’s stock worth $4,183,000 after buying an additional 79,860 shares during the period. BlackRock Inc. boosted its stake in shares of Carrols Restaurant Group by 56.6% in the third quarter. BlackRock Inc. now owns 44,894 shares of the restaurant operator’s stock worth $593,000 after buying an additional 16,218 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Carrols Restaurant Group by 112.6% in the third quarter. Acrospire Investment Management LLC now owns 11,080 shares of the restaurant operator’s stock worth $146,000 after buying an additional 5,868 shares during the period. Finally, Hartford Investment Management Co. boosted its stake in shares of Carrols Restaurant Group by 17.7% in the third quarter. Hartford Investment Management Co. now owns 511,884 shares of the restaurant operator’s stock worth $6,762,000 after buying an additional 77,137 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

TAST has been the topic of several recent research reports. Zacks Investment Research lowered shares of Carrols Restaurant Group from a “buy” rating to a “hold” rating in a report on Friday, March 3rd. Dougherty & Co reaffirmed a “buy” rating and set a $17.00 price target (down previously from $18.50) on shares of Carrols Restaurant Group in a research note on Friday, March 3rd.

About Carrols Restaurant Group

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.

12 Month Chart for NASDAQ:TAST

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