William Blair Has Positive Outlook for BJRI FY2024 Earnings

BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Stock analysts at William Blair boosted their FY2024 EPS estimates for shares of BJ’s Restaurants in a research report issued to clients and investors on Wednesday, October 23rd. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $1.38 per share for the year, up from their previous forecast of $1.34. The consensus estimate for BJ’s Restaurants’ current full-year earnings is $1.42 per share. William Blair also issued estimates for BJ’s Restaurants’ Q4 2024 earnings at $0.36 EPS.

Several other equities research analysts have also recently weighed in on the stock. Benchmark cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and set a $43.00 price objective on shares of BJ’s Restaurants in a research note on Thursday, August 29th. Finally, Barclays reduced their price objective on shares of BJ’s Restaurants from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.43.

BJ’s Restaurants Price Performance

Shares of BJRI opened at $35.87 on Friday. The company has a 50 day moving average price of $32.34 and a 200-day moving average price of $33.34. BJ’s Restaurants has a fifty-two week low of $22.35 and a fifty-two week high of $38.87. The stock has a market capitalization of $838.75 million, a PE ratio of 35.87, a PEG ratio of 1.66 and a beta of 2.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.27 and a current ratio of 0.35.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.21. BJ’s Restaurants had a net margin of 2.19% and a return on equity of 7.83%. The firm had revenue of $349.93 million during the quarter, compared to analysts’ expectations of $349.18 million. During the same quarter in the prior year, the company earned $0.50 EPS. The company’s revenue was up .1% compared to the same quarter last year.

Institutional Investors Weigh In On BJ’s Restaurants

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of BJ’s Restaurants by 27.5% during the second quarter. American Century Companies Inc. now owns 529,116 shares of the restaurant operator’s stock valued at $18,360,000 after acquiring an additional 114,008 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of BJ’s Restaurants in the second quarter valued at approximately $3,250,000. Armistice Capital LLC purchased a new position in BJ’s Restaurants in the second quarter worth approximately $2,602,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in BJ’s Restaurants by 21.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 296,176 shares of the restaurant operator’s stock worth $10,716,000 after acquiring an additional 51,364 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in BJ’s Restaurants in the second quarter worth approximately $1,228,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other BJ’s Restaurants news, CEO C Bradford Richmond bought 2,500 shares of BJ’s Restaurants stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $29.40 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the chief executive officer now directly owns 16,905 shares of the company’s stock, valued at approximately $497,007. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.90% of the company’s stock.

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