William Blair Weighs in on BJ’s Restaurants, Inc.’s Q1 2024 Earnings (NASDAQ:BJRI)

BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Equities researchers at William Blair increased their Q1 2024 EPS estimates for BJ’s Restaurants in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will earn $0.07 per share for the quarter, up from their previous forecast of $0.05. The consensus estimate for BJ’s Restaurants’ current full-year earnings is $1.22 per share. William Blair also issued estimates for BJ’s Restaurants’ Q2 2024 earnings at $0.50 EPS, Q3 2024 earnings at $0.21 EPS, FY2024 earnings at $1.25 EPS and FY2025 earnings at $1.67 EPS.

Several other research analysts have also commented on BJRI. TheStreet upgraded shares of BJ’s Restaurants from a “c” rating to a “b-” rating in a research note on Friday, February 16th. Oppenheimer increased their price target on shares of BJ’s Restaurants from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of BJ’s Restaurants in a research note on Friday, February 16th. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of BJ’s Restaurants in a research note on Friday, February 16th. Finally, Citigroup increased their price target on shares of BJ’s Restaurants from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, BJ’s Restaurants currently has an average rating of “Hold” and a consensus price target of $37.30.

BJ’s Restaurants Stock Up 0.8 %

BJRI stock opened at $33.44 on Monday. BJ’s Restaurants has a 12-month low of $21.64 and a 12-month high of $38.76. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.19. The company has a market cap of $782.50 million, a price-to-earnings ratio of 40.29, a PEG ratio of 1.94 and a beta of 2.12. The company has a 50 day moving average of $34.66 and a two-hundred day moving average of $32.42.

BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.27 by $0.07. The business had revenue of $323.64 million during the quarter, compared to the consensus estimate of $331.03 million. BJ’s Restaurants had a net margin of 1.47% and a return on equity of 5.45%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS.

Institutional Investors Weigh In On BJ’s Restaurants

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its position in shares of BJ’s Restaurants by 141.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,270 shares of the restaurant operator’s stock worth $46,000 after buying an additional 743 shares during the period. Headlands Technologies LLC acquired a new stake in shares of BJ’s Restaurants during the 3rd quarter worth approximately $42,000. Quest Partners LLC acquired a new stake in shares of BJ’s Restaurants during the 4th quarter worth approximately $95,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of BJ’s Restaurants during the 3rd quarter worth approximately $67,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of BJ’s Restaurants during the 3rd quarter worth approximately $95,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

Insider Transactions at BJ’s Restaurants

In other news, VP Alex Puchner sold 7,713 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $38.25, for a total transaction of $295,022.25. Following the completion of the transaction, the vice president now directly owns 12,222 shares of the company’s stock, valued at approximately $467,491.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Fund 1 Investments, Llc sold 242,000 shares of BJ’s Restaurants stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.53, for a total transaction of $8,598,260.00. Following the completion of the transaction, the insider now directly owns 2,326,476 shares of the company’s stock, valued at approximately $82,659,692.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alex Puchner sold 7,713 shares of BJ’s Restaurants stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $38.25, for a total transaction of $295,022.25. Following the transaction, the vice president now directly owns 12,222 shares of the company’s stock, valued at $467,491.50. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

BJ’s Restaurants Company Profile

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ's Restaurants, Inc in August 2004.