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Cracker Barrel Old Country Store, Inc. (CBRL) - free report >>
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Cracker Barrel Old Country Store, Inc. (CBRL) - free report >>
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Bear of the Day: Cracker Barrel Old Country Store (CBRL)
The Zacks Retail and Wholesale sector has struggled to find traction in 2022, slipping nearly 30% and widely underperforming relative to the S&P 500.
A highly-popular stock in the sector with a unique business approach, Cracker Barrel Old Country Store (CBRL - Free Report) , has seen its near-term earnings outlook shift negative, pushing the stock into a Zacks Rank #5 (Strong Sell).
Image Source: Zacks Investment Research
Cracker Barrel Old Country Store is engaged in the ownership and operation of full-service restaurants with a restaurant and a retail store in the same unit. Let’s take a closer look at how the company currently stacks up.
Share Performance
Cracker Barrel shares have experienced adverse price action year-to-date, down 21% and modestly underperforming relative to the S&P 500.
Image Source: Zacks Investment Research
And over the last month, shares are down more than 15%, indicating that sellers have been in control.
Quarterly Results
Cracker Barrel has primarily exceeded earnings expectations, penciling in three EPS beats across its last four releases.
Still, the one miss came in its latest quarter, when CBRL fell short of earnings expectations by more than 20%. Quarterly revenue was reported marginally above expectations.
Image Source: Zacks Investment Research
Growth Outlook
CBRL’s earnings are forecasted to pull back roughly 5% in its current fiscal year (FY23) on top of Y/Y revenue growth of more than 6%.
Earnings growth looks to resume in FY24, with the Zacks Consensus EPS Estimate of $7.02 suggesting a 21% Y/Y change.
Bottom Line
A wide bottom line miss in its latest quarter and negative earnings estimate revisions from analysts paint a challenging picture for the company in the near term.
Cracker Barrel Old Country Store (CBRL - Free Report) is a Zacks Rank #5 (Strong Sell), indicating that analysts have lowered their bottom-line outlook across the last 60 days.
For those seeking strong stocks, a great idea would be to focus on stocks carrying a Zacks Rank #1 (Strong Buy) or a Zacks Rank #2 (Buy) – these stocks sport a notably stronger earnings outlook paired with the potential to deliver explosive gains in the near term.