Q3 2020 EPS Estimates for Carrols Restaurant Group Inc (NASDAQ:TAST) Reduced by SunTrust Banks

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Carrols Restaurant Group Inc (NASDAQ:TAST) – Investment analysts at SunTrust Banks dropped their Q3 2020 earnings per share estimates for Carrols Restaurant Group in a research report issued to clients and investors on Thursday, November 7th. SunTrust Banks analyst J. Bartlett now forecasts that the restaurant operator will post earnings per share of $0.08 for the quarter, down from their prior forecast of $0.13. SunTrust Banks also issued estimates for Carrols Restaurant Group’s Q4 2020 earnings at $0.23 EPS and FY2020 earnings at $0.38 EPS.

TAST has been the topic of a number of other reports. Zacks Investment Research raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. BidaskClub upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James cut their target price on Carrols Restaurant Group from $11.00 to $9.50 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Deutsche Bank started coverage on Carrols Restaurant Group in a research report on Wednesday, September 4th. They set a “buy” rating and a $9.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.13.

Shares of TAST stock traded down $0.38 during trading on Monday, reaching $7.41. 478,700 shares of the company’s stock were exchanged, compared to its average volume of 389,347. The company has a quick ratio of 0.22, a current ratio of 0.32 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $335.89 million, a PE ratio of 24.70 and a beta of 0.51. Carrols Restaurant Group has a twelve month low of $6.23 and a twelve month high of $11.89. The firm’s fifty day moving average price is $7.43 and its 200-day moving average price is $8.32.

Carrols Restaurant Group (NASDAQ:TAST) last posted its earnings results on Thursday, November 7th. The restaurant operator reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.19). The business had revenue of $398.40 million for the quarter, compared to analyst estimates of $400.92 million. Carrols Restaurant Group had a negative return on equity of 3.28% and a negative net margin of 1.48%. The firm’s revenue was up 34.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share.

Several large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Carrols Restaurant Group by 12.6% during the 2nd quarter. Creative Planning now owns 17,365 shares of the restaurant operator’s stock worth $157,000 after buying an additional 1,940 shares during the last quarter. Swiss National Bank lifted its position in shares of Carrols Restaurant Group by 3.3% during the 2nd quarter. Swiss National Bank now owns 65,324 shares of the restaurant operator’s stock worth $590,000 after buying an additional 2,100 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Carrols Restaurant Group by 354.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the restaurant operator’s stock worth $30,000 after buying an additional 2,561 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Carrols Restaurant Group during the 2nd quarter worth $27,000. Finally, Royal Bank of Canada lifted its position in shares of Carrols Restaurant Group by 12.8% during the 2nd quarter. Royal Bank of Canada now owns 35,291 shares of the restaurant operator’s stock worth $318,000 after buying an additional 4,016 shares during the last quarter. Hedge funds and other institutional investors own 78.74% of the company’s stock.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 states.. The company was founded in 1960 and is headquartered in Syracuse, New York.

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Earnings History and Estimates for Carrols Restaurant Group (NASDAQ:TAST)

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