BJ’s Restaurants, Inc. Expected to Earn Q4 2023 Earnings of $0.20 Per Share (NASDAQ:BJRI)

Posted by Defense World Staff on Oct 26th, 2023

BJ’s Restaurants, Inc. (NASDAQ:BJRI – Free Report) – Analysts at William Blair dropped their Q4 2023 EPS estimates for shares of BJ’s Restaurants in a research report issued on Monday, October 23rd. William Blair analyst S. Zackfia now forecasts that the restaurant operator will earn $0.20 per share for the quarter, down from their prior estimate of $0.21. The consensus estimate for BJ’s Restaurants’ current full-year earnings is $0.89 per share.

BJ’s Restaurants (NASDAQ:BJRI – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.18. The firm had revenue of $349.67 million for the quarter, compared to analysts’ expectations of $350.05 million. BJ’s Restaurants had a net margin of 1.32% and a return on equity of 3.89%. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Barclays cut their price objective on BJ’s Restaurants from $31.00 to $23.00 and set an “underweight” rating for the company in a report on Monday. Jefferies Financial Group lifted their price objective on shares of BJ’s Restaurants from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. CL King reduced their target price on BJ’s Restaurants from $44.00 to $40.00 in a research note on Tuesday, October 10th. Piper Sandler raised their price target on BJ’s Restaurants from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Finally, Stephens upped their price objective on BJ’s Restaurants from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BJ’s Restaurants currently has an average rating of “Hold” and an average target price of $35.80.

View Our Latest Research Report on BJRI

BJ’s Restaurants Price Performance

BJ’s Restaurants stock opened at $23.87 on Wednesday. The stock has a market cap of $562.62 million, a price-to-earnings ratio of 31.83, a PEG ratio of 1.79 and a beta of 1.98. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $25.96 and a 200 day simple moving average of $29.76. BJ’s Restaurants has a 52 week low of $21.64 and a 52 week high of $37.83.

Institutional Investors Weigh In On BJ’s Restaurants

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of BJ’s Restaurants by 4.9% during the third quarter. BlackRock Inc. now owns 4,351,308 shares of the restaurant operator’s stock valued at $103,777,000 after acquiring an additional 202,372 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in BJ’s Restaurants by 2.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,880,400 shares of the restaurant operator’s stock valued at $84,127,000 after purchasing an additional 94,775 shares during the last quarter. Vanguard Group Inc. lifted its holdings in BJ’s Restaurants by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,569,304 shares of the restaurant operator’s stock worth $61,278,000 after buying an additional 62,406 shares during the period. Dimensional Fund Advisors LP grew its position in shares of BJ’s Restaurants by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,200,116 shares of the restaurant operator’s stock worth $38,163,000 after buying an additional 37,371 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of BJ’s Restaurants by 6.8% during the third quarter. Neuberger Berman Group LLC now owns 918,348 shares of the restaurant operator’s stock valued at $21,902,000 after buying an additional 58,723 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Insider Activity

In related news, CEO Gregory Levin purchased 1,500 shares of BJ’s Restaurants stock in a transaction that occurred on Wednesday, August 9th. The shares were acquired at an average cost of $33.05 per share, for a total transaction of $49,575.00. Following the transaction, the chief executive officer now directly owns 92,957 shares in the company, valued at $3,072,228.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

BJ’s Restaurants Company Profile

(Get Free Report)

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.