Texas Roadhouse, Inc. (NASDAQ:TXRH) Plans Dividend Increase – $0.75 Per Share

Texas Roadhouse, Inc. (NASDAQ:TXRH) declared a quarterly dividend on Thursday, February 19th. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.75 per share by the restaurant operator on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, March 17th. This is a 10.3% increase from Texas Roadhouse’s previous quarterly dividend of $0.68.

Texas Roadhouse has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 6 years. Texas Roadhouse has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Texas Roadhouse to earn $8.28 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 32.9%.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded down $4.86 during midday trading on Friday, reaching $177.67. 1,212,827 shares of the company’s stock traded hands, compared to its average volume of 979,491. The company has a fifty day simple moving average of $180.60 and a two-hundred day simple moving average of $173.58. Texas Roadhouse has a 1 year low of $148.73 and a 1 year high of $199.99. The company has a market cap of $11.75 billion, a P/E ratio of 27.20, a PEG ratio of 3.05 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.29). Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, research analysts forecast that Texas Roadhouse will post 7.23 EPS for the current fiscal year.

Analysts Set New Price Targets

TXRH has been the subject of several research reports. Wells Fargo & Company boosted their price target on Texas Roadhouse from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. Citigroup upped their target price on shares of Texas Roadhouse from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Zacks Research raised shares of Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada cut their price objective on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.32.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand?cut steaks, fall?off?the?bone ribs, chicken, seafood and house specialties. Each restaurant features a Western?themed décor, open kitchens and a signature line dance presentation of fresh, made?from?scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family?friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high?quality steaks with an approachable, community?oriented atmosphere.