Brokerages Expect Carrols Restaurant Group, Inc. (NASDAQ:TAST) Will Post Quarterly Sales of $436.88 Million

Equities analysts expect that Carrols Restaurant Group, Inc. (NASDAQ:TASTGet Rating) will announce $436.88 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Carrols Restaurant Group’s earnings. The lowest sales estimate is $435.53 million and the highest is $438.22 million. Carrols Restaurant Group reported sales of $424.54 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Carrols Restaurant Group will report full-year sales of $1.71 billion for the current financial year, with estimates ranging from $1.70 billion to $1.72 billion. For the next financial year, analysts forecast that the firm will post sales of $1.76 billion, with estimates ranging from $1.75 billion to $1.78 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Carrols Restaurant Group.

Carrols Restaurant Group (NASDAQ:TASTGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The restaurant operator reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. Carrols Restaurant Group had a negative return on equity of 14.32% and a negative net margin of 3.44%. During the same period in the prior year, the company earned ($0.13) EPS.

A number of equities research analysts recently issued reports on TAST shares. Zacks Investment Research lowered Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 14th. StockNews.com began coverage on Carrols Restaurant Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.20.

Several institutional investors and hedge funds have recently modified their holdings of the company. First Manhattan Co. raised its holdings in Carrols Restaurant Group by 18.2% in the 3rd quarter. First Manhattan Co. now owns 2,152,517 shares of the restaurant operator’s stock worth $7,878,000 after purchasing an additional 331,603 shares during the period. Dimensional Fund Advisors LP raised its holdings in Carrols Restaurant Group by 7.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,104,993 shares of the restaurant operator’s stock worth $4,757,000 after purchasing an additional 137,213 shares during the period. Royce & Associates LP raised its holdings in shares of Carrols Restaurant Group by 28.7% during the first quarter. Royce & Associates LP now owns 1,252,423 shares of the restaurant operator’s stock valued at $2,830,000 after acquiring an additional 279,600 shares during the last quarter. Union Square Park Capital Management LLC raised its holdings in shares of Carrols Restaurant Group by 136.1% during the fourth quarter. Union Square Park Capital Management LLC now owns 708,271 shares of the restaurant operator’s stock valued at $2,096,000 after acquiring an additional 408,271 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Carrols Restaurant Group by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 603,814 shares of the restaurant operator’s stock valued at $1,787,000 after acquiring an additional 35,751 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

NASDAQ TAST opened at $1.44 on Friday. The stock has a market capitalization of $76.69 million, a PE ratio of -1.26 and a beta of 2.53. The business has a 50 day simple moving average of $1.93 and a two-hundred day simple moving average of $2.55. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.34 and a quick ratio of 0.26. Carrols Restaurant Group has a 1-year low of $1.28 and a 1-year high of $6.36.

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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