Carrols Restaurant Group (NASDAQ:TAST) Releases Earnings Results, Beats Estimates By $0.01 EPS

Carrols Restaurant Group (NASDAQ:TASTGet Rating) announced its earnings results on Thursday. The restaurant operator reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01, MarketWatch Earnings reports. Carrols Restaurant Group had a negative return on equity of 8.94% and a negative net margin of 2.60%. During the same period in the prior year, the firm posted ($0.13) EPS.

Carrols Restaurant Group stock opened at $1.45 on Friday. Carrols Restaurant Group has a 12 month low of $1.28 and a 12 month high of $6.49. The company has a current ratio of 0.41, a quick ratio of 0.32 and a debt-to-equity ratio of 2.17. The business’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $2.59.

TAST has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Carrols Restaurant Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.20.

A number of institutional investors have recently bought and sold shares of TAST. Morgan Stanley lifted its stake in Carrols Restaurant Group by 486.4% in the second quarter. Morgan Stanley now owns 131,604 shares of the restaurant operator’s stock valued at $792,000 after purchasing an additional 109,162 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Carrols Restaurant Group by 107.6% during the second quarter. Wells Fargo & Company MN now owns 214,504 shares of the restaurant operator’s stock worth $1,289,000 after acquiring an additional 111,168 shares in the last quarter. Invesco Ltd. lifted its position in shares of Carrols Restaurant Group by 4.4% during the third quarter. Invesco Ltd. now owns 146,007 shares of the restaurant operator’s stock worth $534,000 after acquiring an additional 6,187 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Carrols Restaurant Group during the third quarter worth $96,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Carrols Restaurant Group by 44.6% during the third quarter. BNP Paribas Arbitrage SA now owns 12,300 shares of the restaurant operator’s stock worth $45,000 after acquiring an additional 3,795 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About Carrols Restaurant Group (Get Rating)

Carrols Restaurant Group, Inc, through its subsidiaries, operates as a restaurant company in the United States. The company operates as a Burger King and Popeyes franchisee. As of January 2, 2022, it operated 1,026 Burger King restaurants located in 23 Northeastern, Midwestern, Southcentral, and Southeastern states; and 65 Popeyes restaurants in seven Southeastern states.

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Earnings History for Carrols Restaurant Group (NASDAQ:TAST)

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