Restaurant chain, Cracker Barrel Old Country Store, Inc.(
) reported a slight decline in earnings for the quarter, but beat
analysts estimates on Thursday..
The Lebanon, TN based company reported first quarter earnings of
$23.19 million, or 97 cents per share, down 3% from last years
earnings of $23.8 million, or $1.03 per share. Excluding special
items, Q1 earnings were $1.08 per share, down from last years
adjusted earnings of $1.09. On average, Wall Street analysts
expected EPS of $1.06.
CBRL reported revenue of $627.5 million for the quarter, down
from $629.72 million last year. Analysts expected revenue of
Looking ahead, the company is expected to see second quarter
earnings in the range of $1.22 to $1.27 per share. Analysts are
estimating that the next quarter will have earnings of $1.28 per
The company expects fiscal 2013 earnings to be in the range of
$4.50 to $4.70 with $2.6 billion to $2.65 billion in revenue.
Analysts are expecting earnings of $4.68, and revenue of $2.63
billion for the year.
This outlook on revenue is a result of expected openings of 9 to
11 new stores, and an expected increase in retail sales.
Cracker Barrel shares were up 72 cents, or 1.12% during
premarket trading Thursday. The stock is up 15% YTD.
The Bottom Line
Shares of Cracker Barrel (
) have a 3.07% dividend yield, based on last night's closing stock
price of $65.10. The stock has technical support in the $60-$61
price area. The stock is trading near the all-time high range of
$68-$69 a share.
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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