Wedbush Issues Positive Outlook for Texas Roadhouse Earnings

Texas Roadhouse, Inc. (NASDAQ:TXRH) – Equities research analysts at Wedbush raised their FY2024 earnings estimates for shares of Texas Roadhouse in a research note issued on Thursday, December 19th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $6.41 per share for the year, up from their previous estimate of $6.36. Wedbush has a “Outperform” rating and a $200.00 price objective on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $6.39 per share.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $0.95 earnings per share. Texas Roadhouse’s quarterly revenue was up 13.5% compared to the same quarter last year.

A number of other research firms also recently issued reports on TXRH. Bank of America boosted their target price on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group raised their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BMO Capital Markets boosted their price target on Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Citigroup raised their price objective on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.09.

Texas Roadhouse Stock Up 1.2 %

Texas Roadhouse stock opened at $182.58 on Monday. Texas Roadhouse has a 52 week low of $115.48 and a 52 week high of $206.04. The stock has a 50-day moving average price of $191.56 and a 200 day moving average price of $177.49. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Buying and Selling

In other news, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total value of $303,390.00. Following the sale, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donna E. Epps sold 610 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total transaction of $119,352.60. Following the transaction, the director now directly owns 3,532 shares of the company’s stock, valued at $691,071.12. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Texas Roadhouse

Institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in Texas Roadhouse in the 2nd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. boosted its holdings in Texas Roadhouse by 4,175.0% in the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 167 shares during the period. True Wealth Design LLC acquired a new position in Texas Roadhouse during the 3rd quarter worth $30,000. PSI Advisors LLC grew its stake in Texas Roadhouse by 70.8% during the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Texas Roadhouse by 118.6% during the 3rd quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.