Brokers Set Expectations for RCI Hospitality Holdings Inc’s Q2 2024 Earnings (NASDAQ:RICK)

RCI Hospitality Holdings Inc (NASDAQ:RICK) – Equities research analysts at Sidoti Csr cut their Q2 2024 EPS estimates for RCI Hospitality in a note issued to investors on Wednesday, April 10th. Sidoti Csr analyst A. Lebiedzinski now expects that the restaurant operator will post earnings of $0.92 per share for the quarter, down from their prior estimate of $1.01. The consensus estimate for RCI Hospitality’s current full-year earnings is $4.21 per share. Sidoti Csr also issued estimates for RCI Hospitality’s Q3 2024 earnings at $1.13 EPS, Q4 2024 earnings at $1.32 EPS, FY2024 earnings at $4.14 EPS, Q2 2025 earnings at $1.46 EPS, Q3 2025 earnings at $1.58 EPS, Q4 2025 earnings at $1.47 EPS and FY2025 earnings at $6.00 EPS.

Several other brokerages also recently issued reports on RICK. StockNews.com raised shares of RCI Hospitality from a “hold” rating to a “buy” rating in a report on Monday, April 8th. TheStreet downgraded RCI Hospitality from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. Finally, HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of RCI Hospitality in a research note on Monday, February 12th.

RCI Hospitality Stock Performance

Shares of RICK stock opened at $50.82 on Thursday. The stock has a market capitalization of $475.68 million, a price-to-earnings ratio of 18.22, a PEG ratio of 1.01 and a beta of 1.65. The company’s 50-day simple moving average is $56.13 and its 200-day simple moving average is $58.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.75 and a current ratio of 0.84. RCI Hospitality has a one year low of $50.43 and a one year high of $79.46.

RCI Hospitality (NASDAQ:RICK) last released 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 company had revenue of $73.90 million for the quarter, compared to analyst estimates of $73.30 million. RCI Hospitality had a return on equity of 10.67% and a net margin of 8.81%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share.

Hedge Funds Weigh In On RCI Hospitality

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in shares of RCI Hospitality by 389.3% during the second quarter. Renaissance Technologies LLC now owns 68,500 shares of the restaurant operator’s stock worth $3,313,000 after buying an additional 54,500 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in RCI Hospitality by 135.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 91,807 shares of the restaurant operator’s stock valued at $5,643,000 after buying an additional 52,799 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in RCI Hospitality by 184.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 66,737 shares of the restaurant operator’s stock worth $4,048,000 after acquiring an additional 43,273 shares during the period. Jane Street Group LLC increased its holdings in shares of RCI Hospitality by 716.2% during the second quarter. Jane Street Group LLC now owns 46,850 shares of the restaurant operator’s stock worth $2,265,000 after purchasing an additional 41,110 shares during the period. Finally, Prudential Financial Inc. raised its holdings in RCI Hospitality by 53.0% in the 1st quarter. Prudential Financial Inc. now owns 115,977 shares of the restaurant operator’s stock valued at $7,128,000 after acquiring an additional 40,195 shares in the last quarter. 53.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Eric Scott Langan purchased 1,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $54.54 per share, with a total value of $54,540.00. Following the completion of the acquisition, the chief executive officer now directly owns 703,000 shares in the company, valued at approximately $38,341,620. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.34% of the stock is owned by corporate insiders.

RCI Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, March 14th. RCI Hospitality’s dividend payout ratio is currently 8.60%.

About RCI Hospitality

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.