BJ’s Restaurants, Inc. (BJRI) to Post Q2 2017 Earnings of $0.48 Per Share, Oppenheimer Holdings Forecasts

BJ’s Restaurants, Inc. (NASDAQ:BJRI) – Investment analysts at Oppenheimer Holdings reduced their Q2 2017 EPS estimates for shares of BJ’s Restaurants in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst B. Bittner now forecasts that the restaurant operator will earn $0.48 per share for the quarter, down from their prior forecast of $0.53. Oppenheimer Holdings also issued estimates for BJ’s Restaurants’ Q3 2017 earnings at $0.39 EPS, FY2017 earnings at $1.78 EPS and FY2018 earnings at $1.99 EPS.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings data on Thursday, April 27th. The restaurant operator reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. The firm had revenue of $257.80 million during the quarter, compared to analysts’ expectations of $255.66 million. BJ’s Restaurants had a net margin of 4.29% and a return on equity of 14.86%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share.

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Several other research analysts have also commented on the stock. Canaccord Genuity upgraded shares of BJ’s Restaurants from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Friday, July 14th. TheStreet lowered shares of BJ’s Restaurants from a “b” rating to a “c+” rating in a report on Friday, July 7th. Morgan Stanley restated an “equal weight” rating and issued a $41.00 price target (down previously from $44.00) on shares of BJ’s Restaurants in a report on Saturday. Piper Jaffray Companies restated a “hold” rating and issued a $44.00 price target on shares of BJ’s Restaurants in a report on Friday, July 14th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $35.00 price target on shares of BJ’s Restaurants in a report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.67.

BJ’s Restaurants (BJRI) opened at 36.25 on Tuesday. BJ’s Restaurants has a one year low of $32.24 and a one year high of $47.55. The company has a 50 day moving average of $37.89 and a 200-day moving average of $39.31. The firm has a market cap of $781.48 million, a PE ratio of 19.78 and a beta of 1.10.

Several hedge funds have recently added to or reduced their stakes in BJRI. State Street Corp increased its stake in BJ’s Restaurants by 3.0% in the fourth quarter. State Street Corp now owns 481,140 shares of the restaurant operator’s stock worth $18,911,000 after buying an additional 13,997 shares during the last quarter. OppenheimerFunds Inc. increased its stake in BJ’s Restaurants by 23.0% in the first quarter. OppenheimerFunds Inc. now owns 19,312 shares of the restaurant operator’s stock worth $780,000 after buying an additional 3,606 shares during the last quarter. Prudential Financial Inc. increased its stake in BJ’s Restaurants by 101.8% in the first quarter. Prudential Financial Inc. now owns 121,763 shares of the restaurant operator’s stock worth $4,919,000 after buying an additional 61,430 shares during the last quarter. Great Lakes Advisors LLC increased its stake in BJ’s Restaurants by 18.9% in the first quarter. Great Lakes Advisors LLC now owns 17,628 shares of the restaurant operator’s stock worth $712,000 after buying an additional 2,804 shares during the last quarter. Finally, FMR LLC bought a new stake in BJ’s Restaurants during the fourth quarter worth $2,059,000. 94.80% of the stock is owned by institutional investors and hedge funds.

In other news, insider Alex Puchner sold 7,073 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $45.80, for a total transaction of $323,943.40. Following the completion of the sale, the insider now owns 4,094 shares of the company’s stock, valued at $187,505.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry D. Bouts sold 6,879 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $45.38, for a total transaction of $312,169.02. Following the sale, the director now directly owns 75,225 shares of the company’s stock, valued at approximately $3,413,710.50. The disclosure for this sale can be found here. Insiders have sold 22,793 shares of company stock worth $1,035,319 in the last quarter. Insiders own 6.80% of the company’s stock.

BJ’s Restaurants announced that its board has authorized a share repurchase program on Thursday, April 27th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the restaurant operator to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

About BJ’s Restaurants

BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.

Earnings History and Estimates for BJ`s Restaurants (NASDAQ:BJRI)

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