BJ’s Restaurants (NASDAQ:BJRI) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

BJ’s Restaurants (NASDAQ:BJRI) announced its earnings results on Thursday. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04, FiscalAI reports. The company had revenue of $388.89 million for the quarter, compared to analyst estimates of $377.07 million. BJ’s Restaurants had a return on equity of 13.48% and a net margin of 3.15%.

BJ’s Restaurants Price Performance

Shares of BJRI traded up $4.11 during trading hours on Thursday, hitting $74.26. 795,541 shares of the stock were exchanged, compared to its average volume of 412,088. BJ’s Restaurants has a 12-month low of $28.46 and a 12-month high of $74.60. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 37.51, a price-to-earnings-growth ratio of 2.19 and a beta of 1.31. The stock’s 50-day moving average price is $55.68 and its two-hundred day moving average price is $45.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.25 and a current ratio of 0.31.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BJRI shares. Benchmark raised their price target on shares of BJ’s Restaurants from $50.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Weiss Ratings downgraded shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Barclays cut their price objective on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 6th. Mizuho set a $60.00 target price on BJ’s Restaurants in a report on Friday, July 24th. Finally, Citigroup raised their price target on shares of BJ’s Restaurants from $47.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.38.

Insider Transactions at BJ’s Restaurants

In related news, EVP Brian S. Krakower sold 7,341 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.17, for a total value of $405,002.97. Following the completion of the sale, the executive vice president owned 4,721 shares of the company’s stock, valued at approximately $260,457.57. This trade represents a 60.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory S. Lynds sold 6,201 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.86, for a total value of $346,387.86. Following the completion of the sale, the executive vice president directly owned 46,474 shares of the company’s stock, valued at $2,596,037.64. This trade represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 63,817 shares of company stock valued at $3,384,688. Company insiders own 2.40% of the company’s stock.

Institutional Trading of BJ’s Restaurants

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in BJ’s Restaurants by 14.5% during the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator’s stock worth $101,000 after acquiring an additional 418 shares during the last quarter. Franklin Resources Inc. lifted its stake in BJ’s Restaurants by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 11,904 shares of the restaurant operator’s stock worth $469,000 after acquiring an additional 494 shares in the last quarter. First Trust Advisors LP lifted its position in shares of BJ’s Restaurants by 0.9% during the second quarter. First Trust Advisors LP now owns 71,617 shares of the restaurant operator’s stock worth $3,194,000 after purchasing an additional 637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in BJ’s Restaurants by 7.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,749 shares of the restaurant operator’s stock valued at $524,000 after buying an additional 788 shares during the period. Finally, Royal Bank of Canada boosted its position in BJ’s Restaurants by 21.0% in the 4th quarter. Royal Bank of Canada now owns 4,814 shares of the restaurant operator’s stock valued at $189,000 after buying an additional 837 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep?dish pizzas, California?style thin crust offerings and in?house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full?service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago?style pizza experience to the West Coast.