Dougherty & Co Comments on Carrols Restaurant Group, Inc.’s FY2018 Earnings (TAST)

Carrols Restaurant Group, Inc. (NASDAQ:TAST) – Analysts at Dougherty & Co cut their FY2018 earnings per share (EPS) estimates for Carrols Restaurant Group in a research note issued on Thursday. Dougherty & Co analyst J. Hamblin now forecasts that the restaurant operator will earn $0.30 per share for the year, down from their previous forecast of $0.50. Dougherty & Co currently has a “Buy” rating and a $15.50 target price on the stock.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings data on Wednesday, August 9th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The company had revenue of $279.48 million for the quarter, compared to analyst estimates of $274.90 million. Carrols Restaurant Group had a return on equity of 6.33% and a net margin of 3.44%. Carrols Restaurant Group’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS.

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Other equities research analysts have also issued research reports about the company. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $17.50 target price on shares of Carrols Restaurant Group in a research report on Monday, July 24th. Zacks Investment Research upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, ValuEngine upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.

Carrols Restaurant Group (NASDAQ TAST) traded down 1.563% during mid-day trading on Monday, reaching $11.025. The company’s stock had a trading volume of 89,650 shares. The company has a market cap of $390.58 million, a price-to-earnings ratio of 14.739 and a beta of 0.02. The stock’s 50 day moving average is $11.98 and its 200 day moving average is $13.35. Carrols Restaurant Group has a 12 month low of $9.60 and a 12 month high of $17.55.

Several hedge funds have recently modified their holdings of TAST. The Manufacturers Life Insurance Company increased its stake in shares of Carrols Restaurant Group by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 28,163 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 1,276 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Carrols Restaurant Group by 55.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 48,010 shares of the restaurant operator’s stock valued at $588,000 after buying an additional 17,100 shares during the period. State Street Corp increased its stake in shares of Carrols Restaurant Group by 4.0% in the second quarter. State Street Corp now owns 658,894 shares of the restaurant operator’s stock valued at $8,076,000 after buying an additional 25,044 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Carrols Restaurant Group by 48.0% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 300,816 shares of the restaurant operator’s stock valued at $3,684,000 after buying an additional 97,600 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of Carrols Restaurant Group during the second quarter valued at approximately $1,131,000. 85.00% of the stock is owned by hedge funds and other institutional investors.

Carrols Restaurant Group Company Profile

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.