Carrols Restaurant Group (TAST) Gains As Market Dips: What You Should Know
In the latest market close, Carrols Restaurant Group (TAST) reached $5.41, with a +0.56% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.26%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq decreased by 1.54%.
Prior to today's trading, shares of the restaurant operator had lost 13.51% over the past month. This has lagged the Retail-Wholesale sector's loss of 5.25% and the S&P 500's loss of 3.67% in that time.
Market participants will be closely following the financial results of Carrols Restaurant Group in its upcoming release. The company plans to announce its earnings on November 9, 2023. The company is expected to report EPS of $0.07, up 150% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $476.38 million, up 7.3% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.37 per share and a revenue of $1.87 billion, signifying shifts of +152.86% and +8.11%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Carrols Restaurant Group. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Carrols Restaurant Group currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Carrols Restaurant Group is presently trading at a Forward P/E ratio of 14.54. Its industry sports an average Forward P/E of 19.6, so one might conclude that Carrols Restaurant Group is trading at a discount comparatively.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Carrols Restaurant Group, Inc. (TAST) : Free Stock Analysis Report
