Cracker Barrel Raises Outlook as Q3 Results Beat View (CBRL)

By Staff,

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Restaurant and retail concept operator Cracker Barrel Old Country Store, Inc. ( CBRL ) on Tuesday posted a better-than-expected third quarter profit and raised its full-year outlook.

The Lebanon, TN-based company reported fiscal third quarter net income of $14.4 million, or 62 cents per share, compared with $11.9 million, or 53 cents per share, in the year-ago period.

Revenue rose 2% from last year, to $578.2 million.

On average, Wall Street analysts expected a smaller profit of 58 cents per share, on slightly lower revenue of $577.3 million.

Looking ahead, the company raised its full-year outlook to a range of $3.50 to $3.60 per share, up from a prior forecast of $3.35 to $3.50 per share. Analysts currently expect $3.53 per share for the year.

Cracker Barrel shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of CBRL have a dividend yield of 1.60%, based on last night's closing stock price of $50.01. The stock has technical support in the $45-$46 price area. The stock is currently trading near all-time highs of $53 a share. We would remain on the sidelines for now, but we will be watching the stock closely.

Cracker Barrel Old Country Store, Inc. ( CBRL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CBRL

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