Carrols Restaurant Group (NASDAQ:TAST) Announces Earnings Results, Misses Expectations By $0.19 EPS

Carrols Restaurant Group (NASDAQ:TAST) issued its earnings results on Thursday. The restaurant operator reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.19), reports. The firm 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 0.77% and a positive return on equity of 0.16%. Carrols Restaurant Group’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS.

Carrols Restaurant Group stock traded up $0.96 during mid-day trading on Friday, hitting $7.57. The company had a trading volume of 886,500 shares, compared to its average volume of 386,624. The company’s fifty day moving average is $7.50 and its 200-day moving average is $8.36. Carrols Restaurant Group has a 12-month low of $6.23 and a 12-month high of $11.89. The company has a current ratio of 0.32, a quick ratio of 0.22 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $342.99 million, a price-to-earnings ratio of 25.23 and a beta of 0.51.

In other news, Director Alexander R. Sloane acquired 13,315 shares of Carrols Restaurant Group stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $7.54 per share, with a total value of $100,395.10. Following the purchase, the director now owns 11,909 shares in the company, valued at $89,793.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 22.00% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently commented on TAST shares. BidaskClub upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Thursday. Raymond James lowered their price objective on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Deutsche Bank began 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. Finally, Zacks Investment Research upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $11.70.

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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Earnings History for Carrols Restaurant Group (NASDAQ:TAST)

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