It’s Worth Considering? Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL)

On 29 Jan 2020, Cracker Barrel Old Country Store, Inc. stock identified change of 6.08% away from 52-week low price and recently located move of -11.80% off 52-week high price. CBRL stock has been recorded 0.47% away from 50 day moving average and -3.24% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.39% off 20-day moving average.

Cracker Barrel Old Country Store, Inc (CBRL) recently stated its financial results for the first quarter ended November 1, 2019.

First Quarter Fiscal 2020 Highlights

Comparable store restaurant sales growth of 2.1% and traffic of -1.5% outperformed the casual dining industry.

As before reported, the Company purchased Maple Street Biscuit Company in an all-cash transaction for $36M.

The Company repurchased $14.2M in shares in the first quarter.

GAAP earnings per diluted share were $1.79 contrast to previous year first quarter earnings per diluted share of $1.96. This figure includes unfavorable impacts to earnings per diluted share for the quarter of ($0.11) related to transactional and integration expenses associated with the acquisition of Maple Street Biscuit Company and ($0.25) from the Company’s equity method investment in its unconsolidated subsidiary Punch Bowl Social.

The Company’s Board of Directors reported a quarterly dividend of $1.30 per share on the Company’s ordinary stock, payable on February 5, 2020 to shareholders of record on January 17, 2020.

First Quarter Fiscal 2020 Results
Revenue
The Company stated total revenue of $749.0M for the first quarter of fiscal 2020, representing a raise of 2.1% over the first quarter of the previous year. Cracker Barrel comparable store restaurant sales increased 2.1%, as a 3.6% increase in average check offset a 1.5% decrease in comparable store restaurant traffic. The average menu price increase for the quarter was about 2.3%. Comparable store retail sales reduced 0.9% from the previous year quarter.

Operating Income
Operating income in the first quarter was $63.4M, or 8.5% of total revenue, a raise from the previous year quarter of $61.7M, or 8.4% of total revenue. As a percentage of total revenue, reductions in cost of goods sold was partially offset by increases in other operating expenses.

Earnings per Diluted Share
GAAP earnings per diluted share were $1.79 contrast to previous year first quarter earnings per diluted share of $1.96. This figure includes unfavorable impacts to earnings per diluted share for the quarter of ($0.11) related to transactional and integration expenses associated with the acquisition of Maple Street Biscuit Company and ($0.25) from the Company’s equity method investment in its unconsolidated subsidiary Punch Bowl Social.

Share Repurchases
The Company repurchased $14.2M in shares in the first quarter.

Quarterly Dividend Reported
The Company’s Board of Directors reported a quarterly dividend to ordinary shareholders of $1.30 per share, payable on February 5, 2020 to shareholders of record on January 17, 2020.

Fiscal 2020 Outlook
The Company provided the following updated outlook for fiscal 2020:

GAAP earnings per diluted share between $8.50 and $8.65

Total revenue of $3.15B to $3.20B

Cracker Barrel comparable store restaurant sales growth of about 2.0%

Cracker Barrel comparable store retail sales growth of about 1.0%

Operating income margin of about 9.0% as a percent of total revenue

Depreciation expense of $110M to $115M

Capital expenditures of $115M to $125M

Net interest expense of about $12M, which includes the benefit of interest income resulting from the Company’s lending to Punch Bowl Social

An effective tax rate of between 16.0% and 17.0%, which assumes a renewal of the Work Prospects Tax Credit and includes an predictable tax benefit from the projected loss from the Company’s equity method investment in Punch Bowl Social

CBRL’s shares are at -0.46% for the quarter and driving a -5.55% return over the course of the past year and is now at 2.06% since this point in 2018. The Services sector company, Cracker Barrel Old Country Store, Inc. noticed change of 0.03% to $156.9 along volume of 193411 shares in recent session compared to an average volume of 370.08K. The average volatility for the week at 1.59% and for month was at 1.64%. There are 24.47M shares outstanding and 23.78M shares are floated in market.

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