Texas Roadhouse, Inc. to Post Q2 2024 Earnings of $1.54 Per Share, Wedbush Forecasts (NASDAQ:TXRH)

Texas Roadhouse, Inc. (NASDAQ:TXRH) – Equities research analysts at Wedbush lifted their Q2 2024 earnings per share estimates for Texas Roadhouse in a research note issued to investors on Friday, May 3rd. Wedbush analyst N. Setyan now anticipates that the restaurant operator will earn $1.54 per share for the quarter, up from their prior forecast of $1.44. Wedbush currently has a “Outperform” rating and a $180.00 target price on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $5.90 per share. Wedbush also issued estimates for Texas Roadhouse’s Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS.

A number of other equities research analysts also recently issued reports on TXRH. Citigroup increased their target price on shares of Texas Roadhouse from $178.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their price objective on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. upped 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. Evercore ISI lifted their price target on Texas Roadhouse from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler increased their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Texas Roadhouse presently has an average rating of “Hold” and an average price target of $155.55.

Texas Roadhouse Stock Performance

TXRH stock opened at $167.74 on Monday. The firm has a 50 day simple moving average of $152.85 and a 200 day simple moving average of $130.52. Texas Roadhouse has a 52 week low of $91.06 and a 52 week high of $170.39. The stock has a market cap of $11.21 billion, a P/E ratio of 33.96, a P/E/G ratio of 1.73 and a beta of 1.00.

Institutional Investors Weigh In On Texas Roadhouse

Several large investors have recently made changes to their positions in the company. Comerica Bank acquired a new position in Texas Roadhouse in the third quarter valued at about $10,585,000. Bamco Inc. NY increased its holdings in Texas Roadhouse by 16.9% during the 3rd quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator’s stock valued at $28,466,000 after purchasing an additional 42,755 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Texas Roadhouse by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator’s stock valued at $72,523,000 after purchasing an additional 8,219 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Texas Roadhouse in the third quarter worth $8,748,000. Finally, Boston Trust Walden Corp boosted its stake in Texas Roadhouse by 12.9% in the fourth quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator’s stock worth $94,997,000 after purchasing an additional 89,019 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Insider Activity

In related news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction 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 sale, the president now owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction 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 owns 92,847 shares of the company’s stock, 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 worth $1,843,145. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. Texas Roadhouse’s payout ratio is currently 49.39%.

About Texas Roadhouse

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.