Texas Roadhouse, Inc. Forecasted to Post Q1 2024 Earnings of $1.61 Per Share (NASDAQ:TXRH)

Texas Roadhouse, Inc. (NASDAQ:TXRH) – Equities research analysts at Wedbush upped their Q1 2024 earnings per share estimates for Texas Roadhouse in a research note issued on Friday, April 5th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $1.61 for the quarter, up from their previous forecast of $1.42. Wedbush has a “Outperform” rating and a $170.00 price objective on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $5.71 per share. Wedbush also issued estimates for Texas Roadhouse’s Q2 2024 earnings at $1.44 EPS, Q3 2024 earnings at $1.23 EPS, Q4 2024 earnings at $1.42 EPS, FY2024 earnings at $5.69 EPS, Q1 2025 earnings at $1.81 EPS, Q2 2025 earnings at $1.58 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.46 EPS and FY2025 earnings at $6.31 EPS.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share.

A number of other equities analysts have also commented on the company. Stephens lifted their price objective on Texas Roadhouse from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. BMO Capital Markets lifted their target price on Texas Roadhouse from $110.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lifted their target price on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Truist Financial lifted their target price on Texas Roadhouse from $152.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Piper Sandler lifted their target price on Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus target price of $133.55.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $150.19 on Monday. The business’s 50-day simple moving average is $145.81 and its 200-day simple moving average is $122.15. The firm has a market capitalization of $10.04 billion, a PE ratio of 33.15, a PEG ratio of 1.65 and a beta of 0.99. Texas Roadhouse has a 52 week low of $91.06 and a 52 week high of $157.12.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Texas Roadhouse by 1.5% in the 1st quarter. BlackRock Inc. now owns 8,506,175 shares of the restaurant operator’s stock worth $919,177,000 after purchasing an additional 122,241 shares during the last quarter. Macquarie Group Ltd. raised its position in Texas Roadhouse by 8.9% in the 2nd quarter. Macquarie Group Ltd. now owns 2,560,882 shares of the restaurant operator’s stock worth $187,457,000 after purchasing an additional 208,566 shares during the last quarter. Bank of America Corp DE raised its position in Texas Roadhouse by 82.5% in the 1st quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator’s stock worth $254,969,000 after purchasing an additional 1,066,581 shares during the last quarter. State Street Corp raised its position in Texas Roadhouse by 1.6% in the 1st quarter. State Street Corp now owns 2,203,949 shares of the restaurant operator’s stock worth $238,159,000 after purchasing an additional 34,829 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Texas Roadhouse by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock worth $173,694,000 after purchasing an additional 29,506 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the transaction, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the transaction, the president now directly owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at $13,732,071.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.62%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s payout ratio is presently 53.86%.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.