Brokers Issue Forecasts for Texas Roadhouse FY2024 Earnings

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

A number of other analysts have also issued reports on the company. Barclays increased their target price on Texas Roadhouse from $160.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a research report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price objective for the company. Morgan Stanley upped their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Citigroup raised their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.09.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $181.38 on Monday. Texas Roadhouse has a 52 week low of $115.48 and a 52 week high of $206.04. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 1.59 and a beta of 0.98. The company has a 50 day moving average price of $191.47 and a 200 day moving average price of $177.42.

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

Texas Roadhouse Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 annualized dividend and a yield of 1.35%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.92%.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the sale, the chief technology officer now owns 16,342 shares of the company’s stock, valued at $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Texas Roadhouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its position in shares of Texas Roadhouse by 4.6% in the second quarter. Raymond James & Associates now owns 70,827 shares of the restaurant operator’s stock valued at $12,162,000 after acquiring an additional 3,120 shares during the period. Fifth Third Bancorp grew its position in Texas Roadhouse by 40.7% in the 2nd quarter. Fifth Third Bancorp now owns 608 shares of the restaurant operator’s stock worth $104,000 after purchasing an additional 176 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Texas Roadhouse by 109.5% during the 2nd quarter. Raymond James Trust N.A. now owns 4,587 shares of the restaurant operator’s stock worth $788,000 after purchasing an additional 2,397 shares during the period. Bank of New York Mellon Corp raised its position in shares of Texas Roadhouse by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock valued at $127,859,000 after buying an additional 2,578 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Texas Roadhouse by 8.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 91,705 shares of the restaurant operator’s stock valued at $15,747,000 after buying an additional 6,819 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

About Texas Roadhouse

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.