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CARROLS RESTAURANT GROUP, INC.

(TAST)
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CARROLS RESTAURANT GROUP, INC. : Other Events (form 8-K)

11/16/2021 | 08:38am EST

Item 8.01. OTHER EVENTS.

On November 12, 2021, Carrols Restaurant Group, Inc. (the "Company") partially terminated its existing interest rate swap with Wells Fargo Bank, N.A. to reduce the notional amount hedged from $220 million to $120 million. The reduction, which was at no cost to the Company, leaves the fixed rate and other terms of its swap arrangement unchanged and provides the Company with the flexibility to repay its outstanding borrowings, including borrowings under its Senior Credit Facilities which previously needed to be maintained at the hedged $220 million notional amount. It is the Company's intention to repay the outstanding balance under its Revolving Credit Facility, which was approximately $47 million as of November 16, 2021, on or by November 30, 2021 with cash on hand, although there is no assurance the Company will repay a portion, or the entire amount, of its outstanding balance under its Revolving Credit Facility.

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© Edgar Online, source Glimpses

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Analyst Recommendations on CARROLS RESTAURANT GROUP, INC.
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Financials (USD)
Sales 2021 1 648 M - -
Net income 2021 -40,7 M - -
Net Debt 2021 452 M - -
P/E ratio 2021 -3,25x
Yield 2021 35,1%
Capitalization 118 M 118 M -
EV / Sales 2021 0,35x
EV / Sales 2022 0,32x
Nbr of Employees 16 563
Free-Float 58,6%
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Technical analysis trends CARROLS RESTAURANT GROUP, INC.
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Consensus
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Mean consensus BUY
Number of Analysts 5
Last Close Price 2,36 $
Average target price 4,35 $
Spread / Average Target 84,3%
EPS Revisions
Managers and Directors
Daniel T. Accordino Chairman, President & Chief Executive Officer
Anthony E. Hull Chief Financial Officer, Treasurer & VP
Nathan Mucher Chief Information Officer
David S. Harris Independent Director
Hannah Stone Craven Independent Director
Sector and Competitors