Carrols Restaurant Group (TAST) Advances While Market Declines: Some Information for Investors
Carrols Restaurant Group (TAST) ended the recent trading session at $5.57, demonstrating a +0.36% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
Coming into today, shares of the restaurant operator had lost 16.16% in the past month. In that same time, the Retail-Wholesale sector lost 4.94%, while the S&P 500 lost 3.35%.
Analysts and investors alike will be keeping a close eye on the performance of Carrols Restaurant Group in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. It is anticipated that the company will report an EPS of $0.07, marking a 150% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $476.38 million, reflecting a 7.3% rise from the equivalent quarter last year.
TAST's full-year Zacks Consensus Estimates are calling for earnings of $0.37 per share and revenue of $1.87 billion. These results would represent year-over-year changes of +152.86% and +8.11%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Carrols Restaurant Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Carrols Restaurant Group is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Carrols Restaurant Group is currently trading at a Forward P/E ratio of 15. This indicates a discount in contrast to its industry's Forward P/E of 19.47.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Carrols Restaurant Group, Inc. (TAST) : Free Stock Analysis Report
