Research Analysts Issue Forecasts for RCI Hospitality Holdings Inc’s Q2 2024 Earnings (NASDAQ:RICK)

RCI Hospitality Holdings Inc (NASDAQ:RICK) – Investment analysts at HC Wainwright cut their Q2 2024 earnings per share (EPS) estimates for RCI Hospitality in a research note issued on Thursday, April 11th. HC Wainwright analyst S. Buck now forecasts that the restaurant operator will post earnings per share of $0.70 for the quarter, down from their prior forecast of $0.93. HC Wainwright has a “Buy” rating and a $115.00 price target on the stock. The consensus estimate for RCI Hospitality’s current full-year earnings is $3.84 per share. HC Wainwright also issued estimates for RCI Hospitality’s Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $1.05 EPS and FY2024 earnings at $3.53 EPS.

A number of other research firms also recently commented on RICK. StockNews.com downgraded RCI Hospitality from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet downgraded RCI Hospitality from a “b-” rating to a “c+” rating in a research note on Tuesday, March 5th.

RCI Hospitality Stock Performance

Shares of RCI Hospitality stock opened at $50.92 on Monday. RCI Hospitality has a 52 week low of $49.37 and a 52 week high of $79.46. The business’s fifty day simple moving average is $55.72 and its 200-day simple moving average is $58.28. The firm has a market cap of $476.61 million, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.10 and a beta of 1.65. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 0.75.

RCI Hospitality (NASDAQ:RICK) last issued its quarterly earnings results on Thursday, February 8th. The restaurant operator reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). The firm had revenue of $73.90 million for the quarter, compared to analysts’ expectations of $73.30 million. RCI Hospitality had a return on equity of 10.67% and a net margin of 8.81%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share.

RCI Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.06 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. RCI Hospitality’s dividend payout ratio (DPR) is 8.60%.

Insiders Place Their Bets

In related news, CEO Eric Scott Langan acquired 1,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $54.54 per share, for a total transaction of $54,540.00. Following the transaction, the chief executive officer now owns 703,000 shares of the company’s stock, valued at $38,341,620. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RCI Hospitality

Institutional investors have recently bought and sold shares of the stock. Annex Advisory Services LLC grew its position in RCI Hospitality by 6.5% during the first quarter. Annex Advisory Services LLC now owns 6,947 shares of the restaurant operator’s stock worth $403,000 after buying an additional 427 shares in the last quarter. Vanguard Group Inc. boosted its holdings in RCI Hospitality by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 492,823 shares of the restaurant operator’s stock valued at $32,654,000 after purchasing an additional 17,453 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in RCI Hospitality by 16.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 26,588 shares of the restaurant operator’s stock valued at $1,762,000 after purchasing an additional 3,784 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in RCI Hospitality by 12.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,833 shares of the restaurant operator’s stock valued at $387,000 after purchasing an additional 649 shares in the last quarter. Finally, Barclays PLC boosted its holdings in RCI Hospitality by 339.4% during the fourth quarter. Barclays PLC now owns 13,701 shares of the restaurant operator’s stock valued at $908,000 after purchasing an additional 10,583 shares in the last quarter. 53.82% of the stock is currently owned by institutional investors.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.