Fri Sep 20 11:39:22 UTC 2024: ## Cracker Barrel Misses Earnings Expectations, Stock Price Drops

**[City, State] -** Cracker Barrel Old Country Store (NASDAQ:CBRL) announced disappointing quarterly earnings results on Thursday, falling short of analysts’ expectations. The restaurant operator reported earnings per share of $0.98, missing the consensus estimate of $1.17 by $0.19.

Revenue for the quarter came in at $894.39 million, slightly lower than the anticipated $898.94 million. This represents a 6.9% year-over-year increase.

Cracker Barrel also revised its FY 2025 guidance for earnings per share, but details were not specified in the press release.

Following the announcement, shares of CBRL opened at $41.11 on Friday, a significant drop from the previous day’s closing price. The company’s stock has seen a roller coaster ride this year, with a 52-week low of $34.88 and a high of $83.51.

Analysts’ opinions on Cracker Barrel’s future are mixed. Truist Financial, Benchmark, StockNews.com, UBS Group, and Argus have all adjusted their ratings and price targets for CBRL in recent weeks. Currently, three analysts have rated the stock a sell, while seven have assigned a hold rating. MarketBeat.com reports an average rating of “Hold” and a consensus target price of $54.57.

Cracker Barrel’s future performance remains uncertain, as the company faces industry challenges and macroeconomic headwinds. Investors will be closely watching the company’s next earnings report and its strategies for navigating the current market landscape.

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