Analysts Adjust Expectations for Cracker Barrel Stock Performance
Cracker Barrel's Upcoming Earnings Report
Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) is gearing up to unveil its fourth-quarter earnings, a period that always piques the interest of investors and analysts alike. The big reveal is set to occur after the market closes. There are high expectations for what the Lebanon, Tennessee-based company will reveal.
Analyst Projections for Earnings
Market experts predict Cracker Barrel will report earnings of approximately 77 cents per share. This would represent a decline compared to last year's 98 cents per share, which raises questions about the company’s performance. In addition, Cracker Barrel anticipates quarterly revenue of $855.3 million, which is a decrease from the previous year’s $894.39 million.
Recent Developments Impacting the Brand
An interesting turn of events occurred when Cracker Barrel announced they would no longer be updating the decor within their restaurants. This decision was influenced by negative responses after the company's rebranding efforts were made public. Discussions surrounding the changes have even drawn commentary from prominent figures.
Current Stock Performance
As of the latest trading session, Cracker Barrel experienced a slight dip, with shares falling 1.8%, closing at $51.17. This fluctuation in stock value reflects the current uncertainties regarding upcoming earnings and investor sentiment as they await the earnings report.
Analysts' Ratings Summary
Let's examine how several respected analysts view Cracker Barrel's stock potential:
- Citigroup analyst Jon Tower has maintained a Sell rating but has raised the price target from $45 to $47, citing a cautious outlook.
- UBS analyst Dennis Geiger holds a Neutral rating with a raised price target from $60 to $69, suggesting some optimism amidst uncertainty.
- Truist Securities’ Jake Bartlett has a Buy rating and increased the price target slightly from $64 to $65.
- B of A Securities analyst Sara Senatore maintains an Underperform rating, adjusting the price target from $39 to $45, indicating significant concern.
- Loop Capital analyst Alton Stump has retained a Hold rating with a price target up from $50 to $55, showing a moderation of expectations.
Potential Investor Insights
If you are considering investing in CBRL stock, it's prudent to stay informed about the differing opinions and ratings provided by analysts. Their insights can guide decisions as the market reacts to Cracker Barrel's upcoming financial results.
Understanding the shifts in analyst expectations can illuminate potential future movement in the stock price and help investors strategize accordingly. With multiple opinions available, there's a wealth of information to consider during this pivotal time for Cracker Barrel.
Frequently Asked Questions
What are the expected earnings per share for Cracker Barrel?
Analysts expect Cracker Barrel to report earnings of 77 cents per share for the upcoming quarter.
Why did Cracker Barrel decide to halt the modernization of its decor?
The decision came in response to public backlash over previous rebranding efforts that altered the look of their restaurants.
How did Cracker Barrel's stock perform recently?
Cracker Barrel's stock recently fell by 1.8%, closing at $51.17, amidst investor uncertainties ahead of the earnings release.
What are analyst ratings for Cracker Barrel?
Analysts have varied views, with ratings ranging from Sell to Buy, highlighting a mixed consensus on the stock's performance.
What are the projected revenues for Cracker Barrel?
Cracker Barrel projects quarterly revenues of $855.3 million, a decrease from last year's figures.
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