BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Stock analysts at Oppenheimer Holdings lowered their Q2 2017 earnings per share estimates for shares of BJ’s Restaurants in a research note issued to investors on Monday. Oppenheimer Holdings analyst B. Bittner now forecasts that the restaurant operator will post earnings per share of $0.48 for the quarter, down from their prior forecast of $0.53. Oppenheimer Holdings also issued estimates for BJ’s Restaurants’ Q3 2017 earnings at $0.39 EPS, FY2017 earnings at $1.78 EPS and FY2018 earnings at $1.99 EPS.
BJRI has been the subject of several other research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price target on shares of BJ’s Restaurants in a research report on Thursday, April 27th. Wedbush upgraded shares of BJ’s Restaurants from an “underperform” rating to a “neutral” rating and upped their price target for the company from $31.50 to $41.00 in a research report on Thursday, April 20th. Barclays PLC reduced their price target on shares of BJ’s Restaurants from $38.00 to $36.00 and set an “underweight” rating for the company in a research report on Wednesday, July 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $44.00 price target on shares of BJ’s Restaurants in a research report on Friday, July 14th. Finally, TheStreet downgraded shares of BJ’s Restaurants from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.67.
BJ’s Restaurants (NASDAQ BJRI) opened at 36.25 on Tuesday. The stock has a market capitalization of $781.48 million, a price-to-earnings ratio of 19.78 and a beta of 1.10. The company has a 50-day moving average of $37.89 and a 200-day moving average of $39.31. BJ’s Restaurants has a one year low of $32.24 and a one year high of $47.55.
BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings data on Thursday, April 27th. The restaurant operator reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. BJ’s Restaurants had a net margin of 4.29% and a return on equity of 14.86%. The company had revenue of $257.80 million during the quarter, compared to analyst estimates of $255.66 million. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Comerica Bank increased its position in shares of BJ’s Restaurants by 3.8% in the fourth quarter. Comerica Bank now owns 17,985 shares of the restaurant operator’s stock worth $646,000 after buying an additional 664 shares during the last quarter. State Street Corp increased its position in shares of BJ’s Restaurants by 3.0% in the fourth quarter. State Street Corp now owns 481,140 shares of the restaurant operator’s stock worth $18,911,000 after buying an additional 13,997 shares during the last quarter. FMR LLC purchased a new position in shares of BJ’s Restaurants during the fourth quarter worth approximately $2,059,000. Guggenheim Capital LLC purchased a new position in shares of BJ’s Restaurants during the fourth quarter worth approximately $233,000. Finally, Thrivent Financial for Lutherans increased its position in shares of BJ’s Restaurants by 4.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,680 shares of the restaurant operator’s stock worth $420,000 after buying an additional 420 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.
In other BJ’s Restaurants news, Director Larry D. Bouts sold 6,879 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $45.38, for a total transaction of $312,169.02. Following the completion of the transaction, the director now owns 75,225 shares in the company, valued at approximately $3,413,710.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alex Puchner sold 7,073 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $45.80, for a total transaction of $323,943.40. Following the transaction, the insider now owns 4,094 shares of the company’s stock, valued at approximately $187,505.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,793 shares of company stock valued at $1,035,319. 6.80% of the stock is owned by insiders.
BJ’s Restaurants declared that its Board of Directors has approved a share buyback program on Thursday, April 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
About BJ’s Restaurants
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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