Revenue Update on Carrols Restaurant Group(NASDAQ:TAST)

Carrols Restaurant Group(NASDAQ:TAST) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $241.37M. Analysts estimated a revenue of $244.61M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.21.

Carrols Restaurant Group (TAST) shares turned negative on Wednesdays trading session with the shares closing down -0.18 points or -1.34% at a volume of 1,56,865. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.5. The peak price level was also seen at $13.5 while the days lowest was $13.26. Finally the shares closed at $13.28. The 52-week high of the shares is $14.8 while the 52-week low is $10.5701. According to the latest information available, the market cap of the company is $476 M.

Several Insider Transactions has been reported to the SEC. On Dec 14, 2015, William E Myers (VP, GC and Secretary) sold 10,000 shares at $11.34 per share price.Also, On Sep 16, 2015, Timothy Lalonde (Vice President and Controller) sold 3,000 shares at $12.96 per share price.On Aug 19, 2015, Daniel T Accordino (CEO and President) sold 50,000 shares at $13.09 per share price, according to the Form-4 filing with the securities and exchange commission.

Carrols Restaurant Group Inc. is a holding company and conducts all of its operations through its direct and indirect subsidiaries. The Company’s subsidiaries include Carrols LLC and Carrols Corporation. The Company operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. It is a Burger King franchisee and operates Burger King restaurants. As of December 28 2014 the Company owned and operated 674 Burger King restaurants located in 15 Northeastern Midwestern and Southeastern states. Burger King restaurants feature the flame-broiled Whopper sandwich as well as a range of hamburgers chicken and other specialty sandwiches French fries salads breakfast items snacks smoothies frappes and other offerings. As of December 28 2014 the Company owned 10 and leased 664 Burger King restaurant properties including seven restaurants located in mall shopping centers two restaurants located on military bases and 21 co-branded locations.

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