BJ’s Restaurants, Inc. (NASDAQ:BJRI – Get Rating) – Oppenheimer equity researchers cut their third-quarter 2022 earnings per share (EPS) estimates for BJ’s Restaurants stock in a note released to investors on Thursday August 18. Oppenheimer analyst B. Bittner now expects the restaurateur to earn ($0.36) per share for the quarter, down from his previous estimate of ($0.35). The consensus estimate of BJ’s Restaurants current annual earnings is ($0.03) per share. Oppenheimer also released estimates for BJ’s Restaurants earnings for fiscal year 2022 at ($0.12) EPS and earnings for fiscal year 2023 at $0.78 EPS.
Other stock analysts have also released reports on the company. Citigroup raised its price target on BJ’s Restaurants from $24.00 to $26.00 in a Friday, July 22 report. Piper Sandler cut her price target on BJ’s Restaurants from $38.00 to $29.00 and set an “overweight” rating for the company in a Friday, July 22 report. Wedbush raised its price target on BJ’s Restaurants from $24.00 to $25.00 and gave the company a “neutral” rating in a Friday, July 22 research note. Barclays reduced its price target on BJ’s Restaurants from $21.00 to $17.00 and set an “underweight” rating for the business in a Friday July 22 research note. Finally, Benchmark reduced its price target on BJ’s Restaurants to $32.00 in a Friday, July 22 research note. One analyst rated the stock with a sell rating, six issued a hold rating and five assigned the company a buy rating. According to MarketBeat.com, BJ’s Restaurants currently has an average rating of “Hold” and a consensus price target of $35.09.
Stock performance of BJ’s Restaurants
BJRI shares opened at $26.67 on Monday. BJ’s Restaurants has a 12-month minimum of $20.15 and a 12-month maximum of $47.20. The company has a market capitalization of $625.52 million, a price-earnings ratio of -121.23 and a beta of 1.89. The company has a 50-day simple moving average of $23.38 and a 200-day simple moving average of $26.29. The company has a debt ratio of 0.15, a current ratio of 0.43 and a quick ratio of 0.36.
BJ’s Restaurants (NASDAQ:BJRI – Get Rating) last reported quarterly results on Thursday, July 21. The restaurateur reported earnings per share of $0.01 for the quarter, missing analyst consensus estimates of $0.23 per ($0.22). BJ’s Restaurants posted a negative return on equity of 1.08% and a negative net margin of 0.42%. The company posted revenue of $329.70 million for the quarter, versus analyst estimates of $328.02 million. In the same quarter a year earlier, the company posted earnings per share of $0.26.
BJ’s Restaurant Institutional Trade
A number of hedge funds have recently changed their holdings in BJRI. Allspring Global Investments Holdings LLC purchased a new stake in shares of BJ’s Restaurants during the fourth quarter for a value of $316,000. Northwestern Mutual Wealth Management Co. increased its stake in BJ’s Restaurants by 56.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,070 shares of the restaurateur valued at $37,000 after buying 385 additional shares last quarter. American Century Companies Inc. increased its stake in BJ’s Restaurants by 24.7% during the fourth quarter. American Century Companies Inc. now owns 826,238 shares of the restaurateur valued at $28,547,000 after buying an additional 163,907 shares last quarter. Trillium Asset Management LLC increased its stake in BJ’s Restaurants by 3.3% during the fourth quarter. Trillium Asset Management LLC now owns 99,404 shares of the restaurateur valued at $3,434,000 after buying 3,207 additional shares last quarter. Finally, Bank of America Corp DE increased its stake in BJ’s Restaurants by 0.9% during the fourth quarter. Bank of America Corp DE now owns 67,594 shares of the restaurateur valued at $2,335,000 after buying 601 additional shares last quarter. Hedge funds and other institutional investors own 99.15% of the company’s shares.
About BJ’s Restaurants
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BJ’s Restaurants, Inc owns and operates casual dining restaurants in the United States. The company’s restaurants offer pizza, craft and other beers, appetizers, entrees, pastas, sandwiches, specialty salads and desserts. As of April 19, 2022, it operated 213 restaurants in 29 states. The company was founded in 1978 and is based in Huntington Beach, California.
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