Analysts Anticipate BJ’s Restaurants, Inc. (BJRI) Will Post Quarterly Sales of $250.00 Million
Wall Street brokerages expect BJ’s Restaurants, Inc. (NASDAQ:BJRI) to announce sales of $250.00 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for BJ’s Restaurants’ earnings. The highest sales estimate is $252.30 million and the lowest is $247.47 million. BJ’s Restaurants posted sales of $233.70 million during the same quarter last year, which suggests a positive year over year growth rate of 7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that BJ’s Restaurants will report full-year sales of $250.00 million for the current financial year, with estimates ranging from $1.03 billion to $1.04 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.08 billion per share, with estimates ranging from $1.07 billion to $1.10 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover BJ’s Restaurants.
BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.02. BJ’s Restaurants had a net margin of 3.82% and a return on equity of 14.51%. The firm had revenue of $265.80 million for the quarter, compared to analyst estimates of $269.48 million. During the same period last year, the firm posted $0.56 EPS. The business’s revenue was up 6.2% compared to the same quarter last year.
A number of research firms have recently commented on BJRI. Zacks Investment Research lowered BJ’s Restaurants from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 price target on shares of BJ’s Restaurants in a research report on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $41.00 price target (down previously from $44.00) on shares of BJ’s Restaurants in a research report on Saturday, July 22nd. Barclays PLC dropped their price target on BJ’s Restaurants from $38.00 to $36.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $44.00 price target on shares of BJ’s Restaurants in a research report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.33.
In related news, insider Alex Puchner sold 4,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $44.75, for a total transaction of $179,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin E. Mayer sold 4,468 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $45.46, for a total value of $203,115.28. Following the transaction, the vice president now owns 5,817 shares of the company’s stock, valued at $264,440.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,914 shares of company stock valued at $723,150. 6.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in BJ’s Restaurants by 265.8% in the first quarter. Sei Investments Co. now owns 6,006 shares of the restaurant operator’s stock worth $243,000 after buying an additional 4,364 shares during the last quarter. Karp Capital Management Corp purchased a new position in BJ’s Restaurants during the first quarter worth about $265,000. Bank of New York Mellon Corp increased its position in BJ’s Restaurants by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 276,753 shares of the restaurant operator’s stock worth $11,181,000 after buying an additional 1,982 shares during the last quarter. First Trust Advisors LP purchased a new position in BJ’s Restaurants during the first quarter worth about $1,590,000. Finally, Great West Life Assurance Co. Can increased its position in BJ’s Restaurants by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 27,137 shares of the restaurant operator’s stock worth $1,095,000 after buying an additional 172 shares during the last quarter. Institutional investors and hedge funds own 94.15% of the company’s stock.
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BJ’s Restaurants (BJRI) opened at 33.05 on Friday. The firm has a market cap of $712.49 million, a P/E ratio of 19.48 and a beta of 1.08. The stock’s 50 day moving average is $35.30 and its 200 day moving average is $39.07. BJ’s Restaurants has a one year low of $30.40 and a one year high of $47.55.
BJ’s Restaurants declared that its board has initiated a share buyback program on Thursday, April 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
BJ’s Restaurants Company Profile
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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