William Blair Has Positive Forecast for BJRI Q3 Earnings

BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Investment analysts at William Blair raised their Q3 2024 earnings estimates for BJ’s Restaurants in a note issued to investors on Wednesday, October 23rd. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of ($0.02) per share for the quarter, up from their prior forecast of ($0.04). 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’ FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.85 EPS.

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

BJ’s Restaurants Stock Up 0.3 %

NASDAQ:BJRI opened at $35.87 on Monday. The company has a market cap of $838.75 million, a price-to-earnings ratio of 35.87, a P/E/G 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. The stock’s fifty day moving average price is $32.34 and its two-hundred day moving average price is $33.33. BJ’s Restaurants has a 52-week low of $22.35 and a 52-week high of $38.87.

BJ’s Restaurants (NASDAQ:BJRI) last posted its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $0.72 earnings per share for the quarter, beating 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 last year, the company posted $0.50 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year.

Insider Activity at BJ’s Restaurants

In other BJ’s Restaurants news, CEO C Bradford Richmond acquired 2,500 shares of BJ’s Restaurants stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $29.40 per share, with a total value of $73,500.00. Following the completion of the purchase, the chief executive officer now directly owns 16,905 shares of the company’s stock, valued at $497,007. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BJ’s Restaurants

Institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System lifted its position in shares of BJ’s Restaurants by 15.0% during the 3rd quarter. New York State Teachers Retirement System now owns 34,097 shares of the restaurant operator’s stock worth $1,110,000 after buying an additional 4,440 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of BJ’s Restaurants during the third quarter valued at approximately $500,000. Creative Planning lifted its holdings in BJ’s Restaurants by 27.1% during the second quarter. Creative Planning now owns 11,620 shares of the restaurant operator’s stock worth $403,000 after acquiring an additional 2,477 shares during the period. Luxor Capital Group LP purchased a new position in BJ’s Restaurants in the second quarter worth $1,049,000. Finally, Armistice Capital LLC bought a new position in BJ’s Restaurants in the 2nd quarter valued at $2,602,000. 99.95% of the stock is owned by institutional investors and hedge funds.

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.