Texas Roadhouse Inc. (NASDAQ:TXRH) – Investment analysts at KeyCorp decreased their FY2016 earnings per share (EPS) estimates for Texas Roadhouse in a research note issued to investors on Wednesday. KeyCorp analyst C. O’cull now forecasts that the firm will post earnings of $1.79 per share for the year, down from their previous forecast of $1.81. KeyCorp currently has a “Buy” rating and a $50.00 price objective on the stock.
Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The business earned $509 million during the quarter, compared to analysts’ expectations of $509.80 million. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year.
A number of other research firms have also recently weighed in on TXRH. Telsey Advisory Group cut Texas Roadhouse from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a research note on Tuesday, July 26th. Jefferies Group lowered Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 price objective on the stock. in a report on Tuesday, July 26th. Stifel Nicolaus lowered Texas Roadhouse from a “buy” rating to a “hold” rating and decreased their price objective for the company from $50.00 to $47.00 in a report on Tuesday, July 26th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 price objective (up from $44.00) on shares of Texas Roadhouse in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Texas Roadhouse in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $43.78.
Texas Roadhouse (NASDAQ:TXRH) opened at 39.03 on Monday. The company has a market capitalization of $2.75 billion, a PE ratio of 24.55 and a beta of 0.57. The company has a 50 day moving average price of $43.74 and a 200-day moving average price of $44.30. Texas Roadhouse has a 12-month low of $33.06 and a 12-month high of $49.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.95%. Texas Roadhouse’s dividend payout ratio (DPR) is 48.10%.
In other news, CEO Wayne Kent Taylor sold 150,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,363,261 shares in the company, valued at $200,840,903.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Zarley acquired 23,800 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average price of $42.23 per share, with a total value of $1,005,074.00. Following the completion of the transaction, the director now directly owns 104,000 shares of the company’s stock, valued at $4,391,920. The disclosure for this purchase can be found here. Insiders own 7.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Texas Roadhouse by 2.5% in the second quarter. Alliancebernstein L.P. now owns 2,365,106 shares of the company’s stock worth $107,849,000 after buying an additional 56,673 shares during the period. State Street Corp increased its position in shares of Texas Roadhouse by 52.1% in the second quarter. State Street Corp now owns 2,036,118 shares of the company’s stock worth $92,845,000 after buying an additional 697,515 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Texas Roadhouse by 17.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,853,358 shares of the company’s stock worth $84,513,000 after buying an additional 269,634 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Texas Roadhouse by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,587,343 shares of the company’s stock worth $72,383,000 after buying an additional 55,450 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Texas Roadhouse by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 1,135,397 shares of the company’s stock worth $51,775,000 after buying an additional 51,453 shares during the period. Institutional investors own 88.84% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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