Zacks: Analysts Anticipate BJ’s Restaurants, Inc. (BJRI) Will Post Quarterly Sales of $262.57 Million

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Equities analysts expect that BJ’s Restaurants, Inc. (NASDAQ:BJRI) will report sales of $262.57 million for the current quarter, according to Zacks. Seven analysts have provided estimates for BJ’s Restaurants’ earnings. The highest sales estimate is $265.71 million and the lowest is $259.47 million. BJ’s Restaurants reported sales of $247.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The business is scheduled to report its next quarterly earnings results after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that BJ’s Restaurants will report full year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.10 billion to $1.11 billion. For the next financial year, analysts anticipate that the business will report sales of $1.15 billion, with estimates ranging from $1.13 billion to $1.16 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow BJ’s Restaurants.

BJ’s Restaurants (NASDAQ:BJRI) last posted its quarterly earnings results on Thursday, July 26th. The restaurant operator reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. The business had revenue of $287.63 million during the quarter, compared to analyst estimates of $283.22 million. BJ’s Restaurants had a net margin of 5.35% and a return on equity of 15.76%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share.

BJRI has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of BJ’s Restaurants from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Wedbush increased their price target on shares of BJ’s Restaurants from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. BidaskClub lowered shares of BJ’s Restaurants from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 10th. Stifel Nicolaus increased their price target on shares of BJ’s Restaurants from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Finally, Morgan Stanley raised their price objective on shares of BJ’s Restaurants from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, July 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $66.70.

In related news, CMO Kevin E. Mayer sold 925 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $62.85, for a total transaction of $58,136.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Greg Trojan sold 26,979 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $74.65, for a total transaction of $2,013,982.35. Following the transaction, the chief executive officer now directly owns 66,783 shares in the company, valued at approximately $4,985,350.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 301,614 shares of company stock worth $21,777,152. Insiders own 6.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in BJ’s Restaurants by 10.2% during the second quarter. BlackRock Inc. now owns 3,168,825 shares of the restaurant operator’s stock valued at $190,129,000 after acquiring an additional 292,172 shares in the last quarter. Rothschild Asset Management Inc. acquired a new position in BJ’s Restaurants during the second quarter valued at approximately $28,901,000. Acadian Asset Management LLC grew its holdings in BJ’s Restaurants by 434.7% during the second quarter. Acadian Asset Management LLC now owns 385,173 shares of the restaurant operator’s stock valued at $23,108,000 after purchasing an additional 313,144 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in BJ’s Restaurants during the third quarter valued at approximately $26,635,000. Finally, Renaissance Technologies LLC grew its holdings in BJ’s Restaurants by 66.5% during the second quarter. Renaissance Technologies LLC now owns 309,058 shares of the restaurant operator’s stock valued at $18,543,000 after purchasing an additional 123,458 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ BJRI opened at $65.45 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.44 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.38 billion, a PE ratio of 46.42, a P/E/G ratio of 2.03 and a beta of 0.80. BJ’s Restaurants has a 52-week low of $30.00 and a 52-week high of $76.50.

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. As of September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

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Earnings History and Estimates for BJ`s Restaurants (NASDAQ:BJRI)

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