BJ's Restaurants, Inc. Expected to Earn Q2 2024 Earnings of $0.48 Per Share (NASDAQ:BJRI)

BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) - Analysts at Zacks Research reduced their Q2 2024 EPS estimates for shares of BJ's Restaurants in a research note issued to investors on Thursday, May 16th. Zacks Research analyst H. Ray now expects that the restaurant operator will post earnings of $0.48 per share for the quarter, down from their prior forecast of $0.49. The consensus estimate for BJ's Restaurants' current full-year earnings is $1.33 per share. Zacks Research also issued estimates for BJ's Restaurants' Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.41 EPS, Q2 2025 earnings at $0.52 EPS, Q1 2026 earnings at $0.44 EPS and FY2026 earnings at $1.85 EPS.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.32 EPS for the quarter, topping the consensus estimate of $0.15 by $0.17. The company had revenue of $337.33 million for the quarter, compared to the consensus estimate of $335.35 million. BJ's Restaurants had a return on equity of 6.51% and a net margin of 1.80%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS.

BJRI has been the subject of several other research reports. Stephens reiterated an "equal weight" rating and issued a $35.00 target price on shares of BJ's Restaurants in a research note on Friday, February 16th. Barclays lifted their price objective on BJ's Restaurants from $33.00 to $36.00 and gave the stock an "underweight" rating in a report on Friday, May 3rd. Benchmark upped their target price on BJ's Restaurants from $41.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, May 3rd. TheStreet upgraded shares of BJ's Restaurants from a "c" rating to a "b-" rating in a research note on Friday, February 16th. Finally, Wedbush restated an "outperform" rating and issued a $40.00 price objective on shares of BJ's Restaurants in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $38.30.

BJ's Restaurants Stock Performance

NASDAQ:BJRI traded down $0.70 during trading hours on Friday, hitting $36.71. 712,314 shares of the company traded hands, compared to its average volume of 387,989. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $858.28 million, a price-to-earnings ratio of 36.71, a P/E/G ratio of 1.92 and a beta of 2.12. The firm has a 50-day moving average of $34.30 and a 200 day moving average of $33.40. BJ's Restaurants has a twelve month low of $21.64 and a twelve month high of $38.76.

Institutional Trading of BJ's Restaurants

Several hedge funds have recently modified their holdings of BJRI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in BJ's Restaurants by 62.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,872 shares of the restaurant operator's stock valued at $114,000 after buying an additional 1,867 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in BJ's Restaurants during the 3rd quarter worth about $239,000. Panagora Asset Management Inc. lifted its position in BJ's Restaurants by 49.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 136,252 shares of the restaurant operator's stock valued at $3,196,000 after purchasing an additional 45,267 shares during the period. Wakefield Asset Management LLLP bought a new position in shares of BJ's Restaurants in the 3rd quarter valued at about $549,000. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in BJ's Restaurants by 3.1% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 61,539 shares of the restaurant operator's stock worth $1,444,000 after acquiring an additional 1,877 shares during the period. 99.95% of the stock is owned by institutional investors.

Insider Buying and Selling at BJ's Restaurants

In other news, insider Brian S. Krakower sold 1,600 shares of BJ's Restaurants stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $35.56, for a total value of $56,896.00. Following the completion of the transaction, the insider now owns 7,652 shares in the company, valued at $272,105.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian S. Krakower sold 1,600 shares of the firm's stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $35.56, for a total value of $56,896.00. Following the completion of the sale, the insider now directly owns 7,652 shares in the company, valued at $272,105.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Alex Puchner sold 7,713 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $467,491.50. The disclosure for this sale can be found here. Insiders have sold a total of 251,313 shares of company stock worth $8,950,178 over the last ninety days. Corporate insiders own 4.90% of the company's stock.

About BJ's Restaurants

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.