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Restaurant chain, Cracker Barrel Old Country Store, Inc.( CBRL ) 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 $629.72 million.

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 share.

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 ( CBRL ) 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.( SBRL ) is not recommended at this time, holding a Dividend.com 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 .

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