BJ’s Restaurants, Inc. to Post FY2023 Earnings of $0.83 Per Share, Wedbush Forecasts (NASDAQ:BJRI)

BJ’s Restaurants, Inc. (NASDAQ:BJRI – Free Report) – Analysts at Wedbush boosted their FY2023 EPS estimates for BJ’s Restaurants in a note issued to investors on Wednesday, July 12th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $0.83 for the year, up from their previous forecast of $0.76. Wedbush currently has a “Outperform” rating and a $38.00 target price on the stock. The consensus estimate for BJ’s Restaurants’ current full-year earnings is $0.70 per share. Wedbush also issued estimates for BJ’s Restaurants’ FY2024 earnings at $1.31 EPS.

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BJ’s Restaurants (NASDAQ:BJRI – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. BJ’s Restaurants had a net margin of 0.46% and a return on equity of 1.22%. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $331.83 million. During the same quarter in the prior year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 14.3% on a year-over-year basis.

A number of other research analysts have also recently issued reports on the company. Benchmark lifted their target price on BJ’s Restaurants from $38.00 to $40.00 in a research report on Monday, June 26th. StockNews.com raised BJ’s Restaurants from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Finally, Citigroup lowered their target price on BJ’s Restaurants from $35.00 to $33.00 in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, BJ’s Restaurants presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

BJ’s Restaurants Stock Performance

Shares of NASDAQ:BJRI opened at $34.39 on Thursday. The firm’s 50 day simple moving average is $31.27 and its 200 day simple moving average is $30.75. BJ’s Restaurants has a fifty-two week low of $20.45 and a fifty-two week high of $36.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.41 and a quick ratio of 0.34. The company has a market capitalization of $808.17 million, a price-to-earnings ratio of 132.27, a P/E/G ratio of 3.03 and a beta of 1.93.

Insider Transactions at BJ’s Restaurants

In other news, insider Brian S. Krakower sold 1,170 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $32.46, for a total value of $37,978.20. Following the completion of the sale, the insider now owns 4,959 shares in the company, valued at $160,969.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.20% of the company’s stock.

Institutional Trading of BJ’s Restaurants

Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in BJ’s Restaurants in the 1st quarter worth about $30,000. Allspring Global Investments Holdings LLC lifted its position in shares of BJ’s Restaurants by 94.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,023 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 984 shares during the period. Captrust Financial Advisors raised its holdings in shares of BJ’s Restaurants by 29.6% in the 1st quarter. Captrust Financial Advisors now owns 2,536 shares of the restaurant operator’s stock worth $72,000 after buying an additional 579 shares in the last quarter. Wells Fargo & Company MN increased its holdings in BJ’s Restaurants by 21.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,877 shares of the restaurant operator’s stock valued at $76,000 after purchasing an additional 510 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BJ’s Restaurants by 25.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,005 shares of the restaurant operator’s stock valued at $79,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

BJ’s Restaurants Company Profile

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BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. The company's restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. BJ's Restaurants, Inc was founded in 1978 and is based in Huntington Beach, California.

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