Research Desk Line-up: Dave & Buster's Entertainment Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 12, 2017 / Pro-Trader Daily publishes post-earnings coverage on Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) following the Company's posting of its financial results for the third quarter fiscal 2017 on May 23, 2017. The restaurant operator outperformed earnings expectations and also raised its fiscal earnings guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Restaurants industry. Pro-TD has currently selected Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) for due-diligence and potential coverage as the Company announced on June 06, 2017, its financial results for Q1 2017, which ended on April 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Dave & Buster's Entertainment when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CBRL; also brushing on PLAY. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the third quarter of fiscal 2017 ended April 28, 2017, Cracker Barrel's revenue totaled $700.41 million, marginally higher compared to revenue of $700.14 million in the year ago same period. The Company's revenue numbers lagged behind analysts' forecasts of $713.0 million.

For Q3 FY17, Cracker Barrel's restaurant revenue increased 0.8% to $575.1 million, which was partially offset by a 3.4% decrease in retail revenue to $125.3 million. The Company's comparable store restaurant sales decreased 0.4%, as a 2.1% decline in comparable store restaurant traffic was partially offset by a 1.7% increase in average check Cracker Barrel's average menu price increase for the reported quarter was approximately 1.6%. For Q3 FY17, the Company's comparable store retail sales decreased 4.7% on a y-o-y basis.

During Q3 FY17, Cracker Barrel's operating income was $71.5 million, or 10.2% of total revenue, compared to operating income of $67.0 million, or 9.6% of total revenue. The Company's store operating income was $107.5 million in the reported quarter, or 15.3% of revenue, compared with store operating income of $103.4 million, or 14.8% of revenue, in the prior year's same quarter.

Cracker Barrel's Q3 FY17 net income totaled $46.92 million, or $1.95 per diluted share, compared to net income of $49.17 million, or $2.04 per diluted share, in Q3 FY16. The Company's earnings, adjusted for the impact of the reduction of provisions for uncertain tax positions, earnings per diluted share increased 7.1% from adjusted EPS of $1.82 in the prior year's comparable quarter. Cracker Barrel's earnings surpassed Wall Street's expectations of $1.85 per share.

At the end of Q3 FY17, Cracker Barrel had cash and cash equivalents worth $183.7 million compared to $176.7 million at the prior year's same quarter. The Company's total debt was $400 million at the end of reported quarter.

Quarterly Dividend Increase and Special Dividend

Cracker Barrel announced that its Board of Directors increased the quarterly dividend to $1.20 per share on the Company's common stock, representing a 4.3% over its previous quarterly dividend of $1.15. The quarterly dividend is payable on August 04, 2017, to shareholders of record on July 14, 2017. Over the last 6 years, the Company has increased its dividend 8 times or nearly 450%.

Cracker Barrel's Board also declared a special dividend of $3.50 per share on the Company's common stock. This is the Company's third special dividend declaration. The special dividend is payable on July 28, 2017, to shareholders of record on July 14, 2017.

Fiscal 2017

Based upon year-to-date financial performance and current estimates, Cracker Barrel raised its full-year earnings guidance and now expects to report earnings per diluted share for FY17 to be in the range of $8.25 and $8.35 per share. The Company expects total revenue of approximately $2.95 billion, reflecting the projected opening throughout fiscal 2017 of six new Cracker Barrel stores and three new Holler & Dash Biscuit House restaurants.

For FY17, Cracker Barrel is forecasting comparable store restaurant sales to be flat to 0.5% and comparable store retail sales to decline approximately -3.5%. The Company now projects an operating income margin of approximately 10.5% of total revenue for FY17.

For Q4 FY17, Cracker Barrel is expecting to report earnings per diluted share in the range of $2.10 and $2.20.

Stock Performance

On Friday, June 09, 2017, the stock closed the trading session at $169.49, slightly rising 0.93% from its previous closing price of $167.93. A total volume of 206.27 thousand shares have exchanged hands. Cracker Barrel Old Country Store's stock price advanced 2.56% in the last one month, 5.24% in the past three months, and 1.25% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 1.50%. The stock is trading at a PE ratio of 20.52 and has a dividend yield of 2.83%. The stock currently has a market cap of $4.10 billion.

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