February 21, 2012 at 09:33 AM EST
Cracker Barrel Boosts Outlook as Q2 Earnings Beat Estimates (CBRL)

Restaurant/retail concept operator Cracker Barrel Old Country Store, Inc. (CBRL) on Tuesday posted better-than-expected fiscal second quarter earnings and raised its full-year earnings guidance.

The Lebanon, TN-based company reported fiscal second quarter net income of $25.6 million, or $1.10 per share, compared with $28.8 million, or $1.20 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.20 per share.

Revenue rose 5% from last year to $673.2 million.

On average, Wall Street analysts expected a smaller profit of $1.14 per share on lower revenue of $659.2 million.

Looking ahead, CBRL raised its full-year 2012 earnings forecast to a range of $4.20 to $4.35 per share, up from a prior estimate of $4.10 to $4.25. Analysts are looking for $4.29 per share for the year.

Cracker Barrel shares were unchanged in premarket trading Tuesday.

The Bottom Line
Shares of Cracker Barrel (CBRL) have a 1.80% dividend yield, based on Friday’s closing stock price of $55.63. The stock has technical support in the $50-$52 price area. The shares are trading right at all-time highs.

Cracker Barrel Old Country Store, Inc. (CBRL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here