William Blair Weighs in on BJ’s Restaurants, Inc.’s Q1 2024 Earnings (NASDAQ:BJRI)

BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Research analysts at William Blair lifted their Q1 2024 earnings per share (EPS) estimates for BJ’s Restaurants in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.07 for the quarter, up from their previous forecast of $0.05. The consensus estimate for BJ’s Restaurants’ current full-year earnings is $1.22 per share. William Blair also issued estimates for BJ’s Restaurants’ Q2 2024 earnings at $0.50 EPS, Q3 2024 earnings at $0.21 EPS, FY2024 earnings at $1.25 EPS and FY2025 earnings at $1.67 EPS.

BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, February 15th. The restaurant operator reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The company had revenue of $323.64 million during the quarter, compared to analysts’ expectations of $331.03 million. BJ’s Restaurants had a return on equity of 5.45% and a net margin of 1.47%. BJ’s Restaurants’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS.

Other equities research analysts have also issued reports about the stock. Citigroup increased their target price on shares of BJ’s Restaurants from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of BJ’s Restaurants in a report on Friday, February 16th. Barclays upped their price target on BJ’s Restaurants from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday, January 3rd. TheStreet upgraded BJ’s Restaurants from a “c” rating to a “b-” rating in a research note on Friday, February 16th. Finally, Stephens restated an “equal weight” rating and set a $35.00 target price on shares of BJ’s Restaurants in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.30.

BJ’s Restaurants Trading Down 0.7 %

NASDAQ BJRI opened at $33.19 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.35 and a current ratio of 0.42. The firm has a market cap of $776.65 million, a price-to-earnings ratio of 39.99, a PEG ratio of 1.96 and a beta of 2.12. The firm has a 50 day simple moving average of $34.60 and a 200-day simple moving average of $32.50. BJ’s Restaurants has a one year low of $21.64 and a one year high of $38.76.

Institutional Trading of BJ’s Restaurants

Several institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co grew its position in BJ’s Restaurants by 10.8% during the 1st quarter. Diversified Trust Co now owns 6,487 shares of the restaurant operator’s stock worth $235,000 after purchasing an additional 632 shares during the last quarter. Fisher Asset Management LLC increased its position in BJ’s Restaurants by 2.7% in the 4th quarter. Fisher Asset Management LLC now owns 49,197 shares of the restaurant operator’s stock valued at $1,772,000 after acquiring an additional 1,288 shares during the period. GSA Capital Partners LLP increased its position in BJ’s Restaurants by 40.8% in the 4th quarter. GSA Capital Partners LLP now owns 92,176 shares of the restaurant operator’s stock valued at $3,319,000 after acquiring an additional 26,722 shares during the period. Verition Fund Management LLC raised its stake in BJ’s Restaurants by 298.7% during the 4th quarter. Verition Fund Management LLC now owns 141,556 shares of the restaurant operator’s stock valued at $5,097,000 after acquiring an additional 106,054 shares during the last quarter. Finally, RK Capital Management LLC lifted its position in BJ’s Restaurants by 3.8% during the 4th quarter. RK Capital Management LLC now owns 341,600 shares of the restaurant operator’s stock worth $12,301,000 after acquiring an additional 12,500 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Insider Buying and Selling at BJ’s Restaurants

In other news, major shareholder Fund 1 Investments, Llc sold 242,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $35.53, for a total transaction of $8,598,260.00. Following the completion of the sale, the insider now owns 2,326,476 shares in the company, valued at approximately $82,659,692.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other BJ’s Restaurants news, VP Alex Puchner sold 7,713 shares of BJ’s Restaurants stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $38.25, for a total transaction of $295,022.25. Following the transaction, the vice president now owns 12,222 shares of the company’s stock, valued at $467,491.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Fund 1 Investments, Llc sold 242,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $35.53, for a total value of $8,598,260.00. Following the completion of the sale, the insider now owns 2,326,476 shares of the company’s stock, valued at approximately $82,659,692.28. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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. The company was formerly known as Chicago Pizza & Brewery, Inc and changed its name to BJ's Restaurants, Inc in August 2004.