Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) Expected to Post Quarterly Sales of $101.94 Million

Brokerages expect Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) to post $101.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Ruth’s Hospitality Group’s earnings. The highest sales estimate is $103.80 million and the lowest is $100.40 million. Ruth’s Hospitality Group reported sales of $28.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 258.7%. The business is scheduled to issue its next quarterly earnings report on Friday, July 30th.

According to Zacks, analysts expect that Ruth’s Hospitality Group will report full-year sales of $410.12 million for the current financial year, with estimates ranging from $405.56 million to $414.91 million. For the next fiscal year, analysts expect that the business will post sales of $465.82 million, with estimates ranging from $454.69 million to $476.77 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Ruth’s Hospitality Group.

Ruth’s Hospitality Group (NASDAQ:RUTH) last issued its quarterly earnings results on Friday, May 7th. The restaurant operator reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.17. The firm had revenue of $87.28 million during the quarter, compared to the consensus estimate of $86.72 million. Ruth’s Hospitality Group had a negative return on equity of 5.20% and a negative net margin of 4.82%.

RUTH has been the subject of a number of analyst reports. Piper Sandler increased their price target on Ruth’s Hospitality Group from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, May 26th. Stephens reduced their target price on Ruth’s Hospitality Group from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James increased their target price on Ruth’s Hospitality Group from $28.00 to $31.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 4th. Finally, Zacks Investment Research raised Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, May 11th.

RUTH traded down $0.40 on Tuesday, reaching $24.24. The company’s stock had a trading volume of 2,023 shares, compared to its average volume of 427,857. The firm has a market cap of $848.16 million, a PE ratio of -56.00 and a beta of 2.43. Ruth’s Hospitality Group has a 1 year low of $6.15 and a 1 year high of $28.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.27 and a current ratio of 1.34. The firm has a 50 day moving average of $24.71.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of Ruth’s Hospitality Group by 18.0% in the 1st quarter. Principal Financial Group Inc. now owns 866,084 shares of the restaurant operator’s stock worth $21,505,000 after purchasing an additional 132,422 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Ruth’s Hospitality Group in the 1st quarter worth approximately $421,000. Morgan Stanley lifted its holdings in shares of Ruth’s Hospitality Group by 17.3% in the 1st quarter. Morgan Stanley now owns 196,458 shares of the restaurant operator’s stock worth $4,878,000 after purchasing an additional 28,987 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of Ruth’s Hospitality Group in the 1st quarter worth approximately $630,000. Finally, Royal Bank of Canada lifted its holdings in shares of Ruth’s Hospitality Group by 6.1% in the 1st quarter. Royal Bank of Canada now owns 288,104 shares of the restaurant operator’s stock worth $7,153,000 after purchasing an additional 16,476 shares during the last quarter. 80.64% of the stock is currently owned by institutional investors and hedge funds.

About Ruth’s Hospitality Group

Ruth's Hospitality Group, Inc, together with its subsidiaries, develops, operates, and franchises fine dining restaurants under the Ruth's Chris Steak House name. The company's restaurants offer food and beverage products to special occasion diners and frequent customers, as well as business clientele.

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Earnings History and Estimates for Ruth`s Hospitality Group (NASDAQ:RUTH)

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