Fri Sep 20 11:39:22 UTC 2024: ## Cracker Barrel Falls Short of Earnings Expectations, Stock Price Drops
**[City, State] – September 20, 2024** – Cracker Barrel Old Country Store (NASDAQ: CBRL) reported disappointing quarterly earnings results on Thursday, sending its stock price lower. The restaurant operator missed analysts’ estimates for earnings per share (EPS), coming in at $0.98 compared to the expected $1.17. Revenue also fell short of predictions, reaching $894.39 million against an anticipated $898.94 million.
Despite a 6.9% year-over-year revenue increase, the company’s performance failed to impress investors, as evidenced by the stock’s drop on Friday.
The company’s net margin for the quarter was 1.77%, while return on equity reached 22.11%.
Following the announcement, several analysts adjusted their ratings and price targets for Cracker Barrel stock. Truist Financial lowered its price target from $46.00 to $42.00 and maintained a “hold” rating, while UBS Group dropped its target from $55.00 to $42.00 and assigned a “neutral” rating.
Overall, the stock currently holds an average rating of “Hold” with a consensus target price of $54.57, according to MarketBeat.com. However, recent analyst downgrades and the company’s missed earnings expectations may indicate a period of uncertainty for Cracker Barrel Old Country Store moving forward.
First Piper 