Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) released its quarterly earnings results on Monday. The restaurant operator reported $1.92 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.07), Bloomberg Earnings reports. Cracker Barrel Old Country Store had a net margin of 6.90% and a return on equity of 35.49%. The firm had revenue of $710.40 million for the quarter, compared to the consensus estimate of $718.85 million. During the same period in the previous year, the company earned $2.01 earnings per share. Cracker Barrel Old Country Store’s quarterly revenue was up .1% compared to the same quarter last year.
Cracker Barrel Old Country Store (CBRL) traded down $1.50 during midday trading on Tuesday, reaching $157.20. 712,800 shares of the company were exchanged, compared to its average volume of 290,003. The firm has a market capitalization of $3,823.76, a P/E ratio of 18.94, a PEG ratio of 2.67 and a beta of 0.48. Cracker Barrel Old Country Store has a 52 week low of $141.75 and a 52 week high of $175.04. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Friday, January 12th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.05%. Cracker Barrel Old Country Store’s dividend payout ratio is presently 57.28%.
In other Cracker Barrel Old Country Store news, CEO Sandra B. Cochran sold 36,794 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $151.67, for a total value of $5,580,545.98. Following the completion of the transaction, the chief executive officer now owns 157,591 shares in the company, valued at $23,901,826.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrea Weiss sold 2,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $153.39, for a total transaction of $306,780.00. Following the completion of the transaction, the director now owns 11,758 shares of the company’s stock, valued at approximately $1,803,559.62. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
Cracker Barrel Old Country Store declared that its board has initiated a share repurchase plan on Friday, September 29th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the restaurant operator to repurchase up to 0.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages recently commented on CBRL. Zacks Investment Research cut Cracker Barrel Old Country Store from a “hold” rating to a “sell” rating in a report on Monday, September 18th. BidaskClub lowered Cracker Barrel Old Country Store from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Instinet reiterated a “neutral” rating and issued a $158.00 price target (down previously from $162.00) on shares of Cracker Barrel Old Country Store in a research report on Thursday, September 14th. Maxim Group reiterated a “hold” rating and issued a $160.00 price target (up previously from $155.00) on shares of Cracker Barrel Old Country Store in a research report on Wednesday, October 11th. Finally, Nomura decreased their price objective on shares of Cracker Barrel Old Country Store from $162.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Cracker Barrel Old Country Store presently has a consensus rating of “Hold” and an average price target of $160.20.
Cracker Barrel Old Country Store Company Profile
Cracker Barrel Old Country Store, Inc is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). The Company’s segments include Restaurant and Retail. As of September 19, 2016, the Company operated 640 Cracker Barrel stores in 43 states. The format of its stores consists of a rustic old country-store design offering a restaurant menu that features home-style country food and a range of decorative and functional items, such as rocking chairs, holiday and seasonal gifts and toys, apparel, cookware and foods.
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