Restaurant and retail concept operator Cracker Barrel Old
Country Store, Inc. (
) 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
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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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