Core Viewpoint - Analysts forecast a significant decline in Cracker Barrel's quarterly earnings, with an expected EPS of $0.56, representing a year-over-year decrease of 53.7% and revenues projected at $826.55 million, down 0.7% from the previous year [1]. Earnings Projections - Over the last 30 days, the consensus EPS estimate has been revised downward by 13.1%, indicating a collective reassessment by analysts of their initial forecasts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts estimate 'Revenues- Retail' to be $149.54 million, reflecting a decline of 1.2% from the prior-year quarter [5]. - 'Revenues- Restaurant' are expected to reach $677.01 million, showing an increase of 1.7% compared to the previous year [5]. - The forecast for 'Comparable-store sales - Restaurant - YoY change' is -0.3%, a significant drop from the year-ago value of 7.4% [5]. Store Metrics - The consensus estimate for the 'Number of stores - Total (End of Period)' is 727, an increase from the year-ago figure of 661 [6]. Stock Performance - Over the past month, Cracker Barrel's shares have declined by 24.8%, contrasting with a 4% increase in the Zacks S&P 500 composite [6]. - Currently, Cracker Barrel holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the overall market in the near future [6].

The stock market might be at an all-time high, but that doesn't mean every security is trending higher. On the contrary, there are a number of stocks sinking. Whether due to poor earnings, declining finances or other bad news, some share prices are on the downswing as investors head for the exits. While it might be advisable to eventually bottom fish these names, investors should exercise caution in the near-term. Over the last 12 months, PTON stock has fallen 55%. Through five years, the share price is dow ...

Its senior clientele, among its most loyal, fled during the pandemic and many have since failed to return. In response, Cracker Barrel said last Thursday it plans to spend as much as $700 million over the next three years. Top brass says the company can fix some of its problems by updating its menu and marketing and "refreshing the interior and exterior" with a "different color palette." Cracker Barrel is undergoing a three year turnaround that will add booths and banquettes to its restaurants for the first ...

Cracker Barrel Old Country Store (CBRL) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended April 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be rel ...

Dining out may have gained popularity during the post-lockdown recovery, but based on recent data, the American public may be losing some of its appetite for fast food, fast casual, and other dining establishments. This leaves restaurant stocks at risk of declining in price. Stocks in this sector have already been squeezed by factors like high inflation. During 2022 and 2023, the popularity of dining out stayed strong despite higher prices and smaller portions, but with U.S. economic growth slowing down, it ...

Core Viewpoint - Cracker Barrel Old Country Store is significantly reducing its dividend by 80% to allocate funds for business improvements, leading to a sharp decline in its stock price [1][3]. Financial Performance - The company reported trailing-12-month revenue of $3.4 billion, nearing an all-time high, with comparable-restaurant sales showing modest growth in Q2 of fiscal 2024 [2]. - Despite the revenue figures, earnings per share (EPS) are currently lower than they were a decade ago, indicating underlying financial issues [2]. Dividend Policy Changes - Cracker Barrel has a history of paying quarterly dividends and special dividends, but recent earnings deterioration has led to a situation where dividend payouts exceeded earnings, prompting the drastic cut [3]. - The decision to reduce the dividend is aimed at reallocating resources to fix the business, which has not been well received by investors, resulting in a significant drop in share price [3][4]. Future Outlook - Management is optimistic about turning the business around, with capital expenditures expected to increase through fiscal 2027, aiming for approximately $400 million in adjusted EBITDA by that time [5]. - Currently, the company has an enterprise value (EV) of $1.7 billion, and if it meets its targets, it would trade at an EBITDA-to-EV ratio of four, suggesting potential upside for the stock [6].

Key Takeaways Shares of Cracker Barrel Old Country Store (CBRL) plunged over 12% in intraday trading Friday after the restaurant and novelty store chain slashed its dividend as it embarked on what it called a "strategic transformation plan," and lowered its guidance. The company announced it would be reducing its quarterly dividend to 25 cents from $1.30 as part of its efforts to modify its capital allocation "to support increased investment in the business to drive organic growth." 'Strategic Transformatio ...

Cracker Barrel Old Country Store, Inc. (CBRL) recently announced an update on its third and fourth quarter of fiscal 2024 financial results. The company expects lower-than-anticipated traffic to negatively impact its performance. Additionally, it announced plans to accelerate investments in organic growth by reallocating capital and reducing its quarterly dividend to $0.25 per share from $1.30. Following the announcements, the stock declined 10.3% in after-hours trading on May 16. Q3 & Q4 Fiscal 2024 Update ...

Organic growth investments expected to accelerate financial performance in late fiscal 2026 and into fiscal 2027 Company provides update on third and fourth quarter fiscal 2024 LEBANON, Tenn., May 16, 2024 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today provided an update on its strategic transformation plan and announced changes to its capital allocation. Highlights The Company's strategic transformation plan is anchored on three overarching b ...

LEBANON, Tenn., May 16, 2024 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) will provide a real-time webcast and rebroadcast of its third quarter earnings conference call on Thursday, May 30, 2024, beginning at 11:00 a.m. Eastern Time. Company management will discuss financial results for the fiscal third quarter ended April 26, 2024. The live broadcast of Cracker Barrel's quarterly conference call will be available to the public online in the Event ...