Analysts on Wall Street project that Cracker Barrel Old Country Store (CBRL) will announce quarterly earnings of $0.20 per share in its forthcoming report, representing a decline of 73% year over year. Revenues are projected to reach $831.12 million, declining 4.2% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 4.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Cracker Barrel metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenues- Retail' will likely reach $145.43 million. The estimate points to a change of -2.9% from the year-ago quarter.
The average prediction of analysts places 'Revenues- Restaurant' at $675.75 million. The estimate suggests a change of -3.5% year over year.
Based on the collective assessment of analysts, 'Comparable-store sales - Restaurant - YoY change' should arrive at -3.4%. Compared to the current estimate, the company reported 5.4% in the same quarter of the previous year.
According to the collective judgment of analysts, 'Number of stores - Total (End of Period)' should come in at 709 . Compared to the current estimate, the company reported 725 in the same quarter of the previous year.
Analysts forecast 'Company-Owned Units - Cracker Barrel' to reach 657 . The estimate compares to the year-ago value of 657 .
View all Key Company Metrics for Cracker Barrel here>>>Shares of Cracker Barrel have experienced a change of -20.6% in the past month compared to the -1.3% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), CBRL is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Cracker Barrel Old Country Store, Inc. (CBRL): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).