William Blair Weighs in on BJ's Restaurants, Inc.’s Q1 2017 Earnings (BJRI)
BJ's Restaurants, Inc. (NASDAQ:BJRI) – Stock analysts at William Blair lowered their Q1 2017 earnings per share (EPS) estimates for BJ's Restaurants in a research note issued to investors on Wednesday. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.34 for the quarter, down from their previous estimate of $0.35. William Blair also issued estimates for BJ's Restaurants’ Q3 2017 earnings at $0.33 EPS, FY2017 earnings at $1.78 EPS and FY2018 earnings at $1.98 EPS.
BJ's Restaurants (NASDAQ:BJRI) last announced its quarterly earnings data on Thursday, February 23rd. The restaurant operator reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.15. The business had revenue of $265.62 million for the quarter, compared to analyst estimates of $264.41 million. BJ's Restaurants had a net margin of 4.54% and a return on equity of 13.91%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share.
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A number of other equities research analysts have also recently commented on BJRI. Zacks Investment Research cut BJ's Restaurants from a “buy” rating to a “hold” rating in a research note on Friday, December 23rd. Jefferies Group LLC reiterated a “hold” rating on shares of BJ's Restaurants in a research note on Tuesday, January 3rd. Wedbush cut BJ's Restaurants from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research note on Thursday, January 5th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of BJ's Restaurants in a research note on Friday, January 6th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $36.00 target price on shares of BJ's Restaurants in a research note on Sunday, January 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.38.
Shares of BJ's Restaurants (NASDAQ:BJRI) opened at 42.65 on Friday. The stock has a 50 day moving average of $39.37 and a 200-day moving average of $37.48. BJ's Restaurants has a 12 month low of $32.24 and a 12 month high of $47.55. The company has a market cap of $932.24 million, a price-to-earnings ratio of 22.69 and a beta of 0.90. BJ's Restaurants also saw unusually large options trading on Tuesday. Stock traders bought 10,009 put options on the company. This represents an increase of 1,947% compared to the average volume of 489 put options.
In related news, insider Alex Puchner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $38.30, for a total value of $191,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick Walsh sold 29,966 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $37.13, for a total value of $1,112,637.58. Following the completion of the sale, the director now owns 19,844 shares in the company, valued at $736,807.72. The disclosure for this sale can be found here. Insiders own 7.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. HG Vora Capital Management LLC purchased a new stake in shares of BJ's Restaurants during the third quarter worth about $30,218,000. Davidson Kempner Capital Management LP purchased a new stake in shares of BJ's Restaurants during the fourth quarter worth about $11,498,000. Norges Bank purchased a new stake in shares of BJ's Restaurants during the fourth quarter worth about $7,030,000. Renaissance Technologies LLC boosted its stake in shares of BJ's Restaurants by 17.7% in the fourth quarter. Renaissance Technologies LLC now owns 850,900 shares of the restaurant operator’s stock worth $33,440,000 after buying an additional 127,971 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of BJ's Restaurants by 8.9% in the third quarter. BlackRock Fund Advisors now owns 1,464,043 shares of the restaurant operator’s stock worth $52,047,000 after buying an additional 119,777 shares in the last quarter. Institutional investors and hedge funds own 87.79% 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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