Q2 2024 EPS Estimates for Texas Roadhouse, Inc. (NASDAQ:TXRH) Boosted by Wedbush

Texas Roadhouse, Inc. (NASDAQ:TXRH) – Research analysts at Wedbush boosted their Q2 2024 earnings per share estimates for shares of Texas Roadhouse in a research note issued to investors on Friday, May 3rd. Wedbush analyst N. Setyan now anticipates that the restaurant operator will earn $1.54 per share for the quarter, up from their previous estimate of $1.44. Wedbush has a “Outperform” rating and a $180.00 price target on the stock. The consensus estimate for Texas Roadhouse’s current full-year earnings is $5.90 per share. Wedbush also issued estimates for Texas Roadhouse’s Q3 2024 earnings at $1.24 EPS, FY2024 earnings at $5.90 EPS, Q1 2025 earnings at $1.90 EPS, Q2 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $6.43 EPS.

Several other research firms have also recently commented on TXRH. Morgan Stanley upped their price target on Texas Roadhouse from $145.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Wells Fargo & Company lifted their price objective on Texas Roadhouse from $140.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Benchmark initiated coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating on the stock. Barclays raised their price target on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Piper Sandler boosted their target price on shares of Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $155.55.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $166.07 on Monday. Texas Roadhouse has a fifty-two week low of $91.06 and a fifty-two week high of $170.39. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.73 and a beta of 1.00. The firm has a fifty day moving average price of $153.17 and a two-hundred day moving average price of $131.01.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TXRH. Sei Investments Co. increased its position in shares of Texas Roadhouse by 31.6% during the first quarter. Sei Investments Co. now owns 73,707 shares of the restaurant operator’s stock valued at $11,385,000 after acquiring an additional 17,691 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Texas Roadhouse by 39.7% during the first quarter. Illinois Municipal Retirement Fund now owns 10,606 shares of the restaurant operator’s stock valued at $1,638,000 after buying an additional 3,013 shares during the period. Lisanti Capital Growth LLC raised its holdings in Texas Roadhouse by 26.8% in the 1st quarter. Lisanti Capital Growth LLC now owns 8,675 shares of the restaurant operator’s stock worth $1,340,000 after purchasing an additional 1,835 shares during the period. SG Americas Securities LLC grew its stake in shares of Texas Roadhouse by 234.5% during the 1st quarter. SG Americas Securities LLC now owns 6,342 shares of the restaurant operator’s stock valued at $980,000 after acquiring an additional 4,446 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Texas Roadhouse in the first quarter worth $998,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Activity

In other Texas Roadhouse news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the transaction, the director now owns 4,142 shares of the company’s stock, valued at approximately $621,175.74. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the transaction, the director now directly owns 4,142 shares of the company’s stock, valued at $621,175.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the sale, the president now directly owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.61 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

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.