Seeking Alpha
Profile| Send Message|
( followers)  

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) is scheduled to report its Q4 2012 results on September 19, 2012, before market opens. The Street expects EPS and revenue of $1.30 and $685.35M, respectively. In this article, I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from CBRL and the news from its closest competitors.

Click to enlarge

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last four quarters. In the last quarter, it reported $0.86 EPS, beating analyst estimates of $0.75.

The consensus EPS estimate is $1.30 based on 7 analysts' estimates, up from $1.00 a year ago. Revenue estimates are $685.35M, up from $612.94M a year ago. The median target price by analysts for the stock is $72.00.

Average recommendation: Overweight

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On September 13, 2012, KeyBanc Capital Mkts downgraded the company from Buy to Hold.
  • On July 12, 2012, KeyBanc Capital Mkts initiated Buy rating for the company.
  • On May 24, 2012, Argus upgraded the company from Hold to Buy.
  • On May 23, 2012, Miller Tabak reiterated Buy rating for the company.

Latest News

  • On August 7, 2012, Cracker Barrel Old Country Store Inc reported in its Form 8-K that on August 6, 2012, Cracker Barrel Old Country Store, Inc. (company) and Michael A. Woodhouse, Executive Chairman of the Board of the Company, entered into an amendment to that certain Employment Agreement effective as of September 12, 2011.
  • On May 22, 2012, Cracker Barrel Old Country Store Inc announced that for fiscal 2012, it expects total revenue of between $2.55 billion and $2.6 billion, reflecting anticipated increases in comparable store restaurant and retail sales in a range of 1.5% and 2.0%, and the opening of 13 new Cracker Barrel stores in the current fiscal year.

Competitors

Buffalo Wild Wings (NASDAQ:BWLD), Darden Restaurants (NYSE:DRI), McDonald's (NYSE:MCD), Starbucks Corporation (NASDAQ:SBUX), and Yum! Brands (NYSE:YUM) are peers for comparison for Cracker Barrel Old Country Store and the table below provides the key metrics for these companies and the industry.

Cracker Barrel Old Country Store, Inc. key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies for the last one-year period.

CBRL Chart

CBRL data by YCharts

Competitors' Latest Development

  • On July 26, 2012, Starbucks announced that for the fourth quarter of 2012, it expects revenue growth of 10% - 12% and earnings per share (EPS) of $0.44-$0.45. For fiscal 2013, it expects revenue growth of 10% - 13% and earnings per share of $2.04 to $2.14. According to I/B/E/S Estimates, analysts are expecting the Company to report reveneue of $3.45 billion and EPS of $0.48 for fourth quarter of 2012; reveneue of $15.033 billion and EPS of $2.28 for fiscal 2013.
  • On July 18, 2012, Yum! Brands Inc reaffirmed its fiscal 2012 EPS guidance of at least 12% growth, excluding special items. The Company reported EPS of $2.87 for fiscal 2011.
  • On July 12, 2012, Darden Restaurants, Inc. announced that it has agreed to acquire Yard House USA, Inc. for $585 million in an all-cash transaction from private equity firm TSG Consumer Partners LLC, management and investors.
  • On July 12, 2012, Darden Restaurants, Inc. announced that for fiscal 2013, it expects total sales growth of between 9%-10% in fiscal 2013 and anticipates that diluted net earnings per share growth from continuing operations to be in the range of 5% to 9%. The Company reported revenues of $7.999 billion and EPS of $3.58 in fiscal 2012.
  • On June 22, 2012, Darden Restaurants, Inc. announced that Board of Directors declared a quarterly cash dividend of $0.5 per share on the Company's outstanding common stock.
  • On June 22, 2012, Darden Restaurants, Inc. announced that for fiscal 2013, it expects total sales growth to be between +6% and +7%. That translates into absolute dollar sales growth of $480 million to $560 million, which is quite substantial given the scale of most competitors within full-service dining.
  • On June 12, 2012, Starbucks announced that for fiscal 2012, it is expecting earnings per share to a range of $1.80 to $1.82. For the third quarter of 2012, it expects earnings per share to be in the range of $0.44 to $0.45. For the fourth quarter of 2012, it expects EPS in the range of $0.46 to $0.47. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.85 for fiscal 2012; EPS of $0.46 for the third quarter of 2012; EPS of $0.48 for the fourth quarter of 2012.
  • On June 4, 2012, Starbucks Coffee Company announced that it has entered into a definitive agreement to acquire San Francisco-based Bay Bread, LLC and its La Boulange bakery brand, as well as to hire renowned French baker Pascal Rigo.
  • On May 24, 2012, McDonald's Corp announced that it has declared a quarterly cash dividend of $0.70 per share of common stock, payable on June 15, 2012, to shareholders of record at the close of business on June 4, 2012.
  • On May 7, 2012, Rompres reported that five new United States companies will be listed on the Alternative Trading System of the Bucharest Stock Exchange International Department, starting on May 10, 2012.
  • On May 1, 2012, Yum! Brands Inc announced the promotion of Rick Carucci,, to President of the Corporation, reporting to Chairman and Chief Executive Officer, David C. Novak.
  • On April 26, 2012, Starbucks announced that for fiscal 2012, it is raising its expectation for earnings per share to a range of $1.81 to $1.84. For the third quarter of 2012, it expects earnings per share to be in the range of $0.45 to $0.46. For the fourth quarter of 2012, it expects EPS in the range of $0.45 to $0.46. For the second half of 2012, it expects EPS growth to be approximately 25% to 29%. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.46 for the third quarter of 2012; EPS of $0.50 for the fourth quarter of 2012.
  • On April 24, 2012, Buffalo Wild Wings, Inc. announced that it expects to achieve net earnings growth of 20% for fiscal 2012. The Company reported net income of $50.43 million in fiscal 2011.
  • On April 20, 2012, McDonald's Corporation announced that it is continuing into April 2012 with global comparable sales growth expected to be about 4%.
  • On March 29, 2012, Buffalo Wild Wings, Inc. announced that it expects net earnings growth of 20% in fiscal 2012.
  • On March 27, 2012, BM&FBovespa (Bovespa) announced that, on April 4, 2012, the Brazilian Depositary Receipts (BDRs) Level I of Starbucks Corp will start being traded on Bovespa's over-the-counter (OTC) market, quoted in BRL per unit and with standard trading lot of 100 BDRs, under the ticker SBUB11B.
  • On March 23, 2012, Darden Restaurants, Inc. announced Board of Directors declared a quarterly dividend of $0.43 per share. The dividend is payable on May 1, 2012 to shareholders of record at the close of business on April 10, 2012.
  • On March 23, 2012, Yum! Brands Inc announced that the Board of Directors have declared a dividend of $0.285 per share of common stock. The quarterly dividend will be distributed May 4, 2012, to shareholders of record at the close of business on April 13, 2012.
  • On March 22, 2012, McDonald's Corporation announced that Vice Chairman and Chief Executive Officer (CEO) Jim Skinner has informed the Board of Directors of his decision to retire after 41 years with the Company, effective June 30, 2012.
  • On March 21, 2012, Starbucks and Green Mountain Coffee Roasters, Inc. announced the expansion of their strategic relationship for the manufacturing, marketing, distribution and sale of Starbucks branded Vue packs for use in GMCR's recently introduced Keurig Vue Brewer.

Technical Overview


The stock has a market capitalization of $1.49B and is currently trading at $64.13, with a 52-week range of $37.92-$66.50. The stock's year-to-date performance has been 29.22%. It is currently trading above 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Cracker Barrel Old Country Store Reports On September 19