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March 5, 2014
12:48 EDTCBRL, DENN, BOBEBob Evans sinks after lowering full year profit view
Shares of Bob Evans Farms (BOBE), a full service restaurant and food distributor, are sinking after the company's third quarter results trailed expectations, and it lowered its fiscal 2014 profit view for the second time this year. WHAT'S NEW: Last night, Bob Evans reported Q3 earnings per share of 30c and revenue of $340.13M, compared to expectations of 57c and $350.54M, respectively. WHAT'S NOTABLE: The company lowered its FY14 adjusted EPS view to $1.60-$1.75 from $2.20-$2.30, compared to consensus of $2.26. It also lowered its FY14 EPS outlook on January 21, from $2.60-$2.65 to $2.20-$2.30. The company cited adverse impacts from severe winter weather for the reduced guidance. For FY15, the company expects EPS of $2.80-$3.00, versus consensus of $2.90. For the Bob Evans Restaurant business, the company expects same-store sales of 3.0%-3.5% and 8 to 10 new restaurants for FY15. For the BEF Foods business, the company expects sales growth of 8%-9% and sow costs of $70 per hundredweight for FY15. Bob Evans said it expects to complete its current $225M share repurchase program by the end of FY14 and that its board of directors has authorized up to $100M of share repurchases for FY15. ANALYST REACTION: This morning, KeyBanc Capital Markets had a Hold rating on the shares. PRICE ACTION: In early afternoon trading, Bob Evans fell $4.17, or about 8%, to $47.57 on nearly four times its average daily trading volume. Despite today's slide, the stock has gained about 17% over the past twelve months. OTHERS TO WATCH: Other full service restaurants include Denny's (DENN) and Cracker Barrel (CBRL).
News For BOBE;DENN;CBRL From The Last 14 Days
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November 25, 2015
10:04 EDTCBRLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21Vianet (VNET) downgraded to Neutral from Overweight at JPMorgan... Anglo American (AAUKY) downgraded to Reduce from Hold at HSBC... Boulder Brands (BDBD) downgraded to Market Perform from Outperform at William Blair... Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus... HP Inc. (HPQ) downgraded to Hold from Buy at Needham... PTC Therapeutics (PTCT) downgraded to Underperform from Hold at Jefferies... SunEdison (SUNE) downgraded to Sell from Neutral at UBS... TerraForm Power (TERP) downgraded to Sell from Neutral at UBS... Tiffany (TIF) downgraded to Neutral from Buy at Monness Crespi... Valspar (VAL) downgraded on negative catalysts at RBC Capital... eBay (EBAY) downgraded to Buy from Conviction Buy at Goldman.
07:40 EDTCBRLCracker Barrel downgraded to Hold from Buy at Argus
Argus downgraded Cracker Barrel to Hold following Q1 results citing weak comp-store sales growth as both restaurant comps and overall revenues missed consensus forecasts.
November 24, 2015
11:08 EDTCBRLCracker Barrel management to meet with Guggenheim
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08:04 EDTCBRLCracker Barrel sees Q2 EPS $1.80-$1.90, consensus $2.00
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08:03 EDTCBRLCracker Barrel backs FY16 EPS view $7.15-$7.30, consensus $7.29
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08:01 EDTCBRLCracker Barrel reports Q1 EPS $1.70, consensus $1.59
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06:31 EDTCBRLCracker Barrel volatility flat into Q1 and outlook
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November 23, 2015
15:28 EDTCBRLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
15:03 EDTCBRLCabela's options active on renewed takeover chatter
Cabela December 50 and 55 calls are active on total call volume of 350 contracts (360 puts) on renewed takeover chatter. December call option implied volatility is at 51, January is at 54; compared to its 52-week range of 23 to 53. Active call volume suggests traders taking positions for large price movement.
November 18, 2015
09:03 EDTCBRLCracker Barrel expects to server 1.4M meals during Thanksgiving season
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November 17, 2015
17:02 EDTBOBEBob Evans names Bravo Brio Restaurant CEO Saed Mohseni as CEO
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