Q2 2024 Earnings Forecast for Texas Roadhouse, Inc. (NASDAQ:TXRH) Issued By Wedbush

Texas Roadhouse, Inc. (NASDAQ:TXRH) – Stock analysts at Wedbush boosted their Q2 2024 EPS estimates for shares of Texas Roadhouse in a research note issued on Friday, May 3rd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $1.54 for the quarter, up from their prior estimate of $1.44. Wedbush has a “Outperform” rating and a $180.00 price target on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $5.90 per share. Wedbush also issued estimates for Texas Roadhouse’s Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

A number of other research firms have also issued reports on TXRH. BTIG Research upped their price target on Texas Roadhouse from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their target price on shares of Texas Roadhouse from $145.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Friday, May 3rd. Northcoast Research lowered Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Robert W. Baird increased their price target on shares of Texas Roadhouse from $178.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets boosted their price target on shares of Texas Roadhouse from $130.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse presently has a consensus rating of “Hold” and an average target price of $155.55.

Texas Roadhouse Trading Down 1.0 %

TXRH opened at $166.07 on Monday. The firm has a market capitalization of $11.10 billion, a PE ratio of 33.62, a PEG ratio of 1.73 and a beta of 1.00. Texas Roadhouse has a twelve month low of $91.06 and a twelve month high of $170.39. The firm’s 50-day moving average price is $153.17 and its 200 day moving average price is $131.01.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 EPS.

Hedge Funds Weigh In On Texas Roadhouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Texas Roadhouse during the fourth quarter worth approximately $78,544,000. Balyasny Asset Management L.P. lifted its stake in shares of Texas Roadhouse by 4,150.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after purchasing an additional 441,069 shares in the last quarter. Invesco Ltd. increased its position in shares of Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after acquiring an additional 370,627 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Texas Roadhouse by 60.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after acquiring an additional 294,425 shares in the last quarter. Finally, Armistice Capital LLC acquired a new stake in Texas Roadhouse in the 4th quarter valued at $28,724,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Activity

In other Texas Roadhouse news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total value of $351,628.20. Following the transaction, the director now directly owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock valued at $1,843,145 in the last three months. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio is 49.39%.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.