BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Equities researchers at Wedbush dropped their FY2017 earnings estimates for BJ’s Restaurants in a research note issued on Friday. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $1.53 for the year, down from their prior forecast of $1.74. Wedbush currently has a “Hold” rating and a $45.00 price target on the stock.
Several other equities analysts have also issued reports on BJRI. Zacks Investment Research lowered BJ’s Restaurants from a “hold” rating to a “sell” rating in a research note on Monday. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 price target on shares of BJ’s Restaurants in a research report on Friday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $41.00 price target (down previously from $44.00) on shares of BJ’s Restaurants in a research report on Saturday, July 22nd. Piper Jaffray Companies reaffirmed 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, Barclays PLC reduced their price target on BJ’s Restaurants from $38.00 to $36.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 19th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $39.33.
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BJ’s Restaurants (BJRI) traded down 2.762% during mid-day trading on Monday, hitting $34.325. The company had a trading volume of 224,767 shares. The company has a market capitalization of $739.98 million, a P/E ratio of 20.227 and a beta of 1.10. The company has a 50-day moving average price of $36.65 and a 200 day moving average price of $39.27. BJ’s Restaurants has a 52-week low of $30.40 and a 52-week high of $47.55.
BJ’s Restaurants (NASDAQ:BJRI) last released its earnings results on Thursday, July 27th. The restaurant operator reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.02. The business had revenue of $265.80 million for the quarter, compared to the consensus estimate of $269.48 million. BJ’s Restaurants had a return on equity of 14.51% and a net margin of 3.82%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share.
BJ’s Restaurants declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 27th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
In other BJ’s Restaurants news, insider Alex Puchner sold 4,000 shares of BJ’s Restaurants stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $44.75, for a total value of $179,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kevin E. Mayer sold 4,468 shares of BJ’s Restaurants stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $45.46, for a total value of $203,115.28. Following the completion of the transaction, the vice president now owns 5,817 shares in the company, valued at $264,440.82. The disclosure for this sale can be found here. Insiders have sold a total of 22,793 shares of company stock worth $1,035,319 in the last 90 days. 6.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BJRI. BlackRock Inc. increased its position in shares of BJ’s Restaurants by 132,808.6% in the first quarter. BlackRock Inc. now owns 2,518,618 shares of the restaurant operator’s stock valued at $101,752,000 after buying an additional 2,516,723 shares during the period. Norges Bank bought a new position in shares of BJ’s Restaurants during the fourth quarter valued at $7,030,000. GW&K Investment Management LLC increased its position in shares of BJ’s Restaurants by 50.5% in the second quarter. GW&K Investment Management LLC now owns 352,993 shares of the restaurant operator’s stock valued at $13,149,000 after buying an additional 118,413 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of BJ’s Restaurants during the first quarter valued at $3,183,000. Finally, Wellington Management Group LLP increased its position in shares of BJ’s Restaurants by 400.2% in the first quarter. Wellington Management Group LLP now owns 85,561 shares of the restaurant operator’s stock valued at $3,456,000 after buying an additional 68,455 shares during the period. Institutional investors own 94.80% of the company’s stock.
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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