|Over a week ago|
BJ's Restaurants price target raised to $23 from $20 at Stephens » 08:2307/2407/24/20
Stephens analyst James…
Stephens analyst James Rutherford raised the firm's price target on BJ's Restaurants to $23 from $20 and keeps an Equal Weight rating on the shares following the company's quarterly report. While he is confident in the long-term operating model and unit growth prospects, Rutherford said it is unclear how long it will take for stores that have opened for indoor dining to recover lost volume and sees risk given that 30% of units are in California.
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BJ's Restaurants reports Q2 comparable sales decline of 57.2% 16:0907/2307/23/20
BJ's Restaurants reports Q2 EPS ($1.38), consensus ($1.95) » 16:0807/2307/23/20
Reports Q2 revenue…
Reports Q2 revenue $128.0M, consensus $128.64M. Q2 was impacted by a 35c per share impairment charge for three restaurants, and a 5c per share charge to reserve for beer spoilage due to the sudden decrease in draft beer sales caused by the pandemic.
BJ's Restaurants downgraded to Hold from Buy at Loop Capital » 07:3407/1607/16/20
Loop Capital analyst…
Loop Capital analyst Lynne Collier downgraded BJ's Restaurants to Hold from Buy with a price target of $21, down from $30. The analyst is citing a "more prolonged" impact of COVID-19 on casual dining names than initially forecast while also noting the company's "large concentration" in the more heavily impacted states like California, Texas, and Florida. Collier adds that her recent restaurant checks indicate reduced wait times in some of the surveyed locations relative to June levels while noting that the concept is more of an "experiential dining occasion vs. meal replacement", leading to relative underperformance for the chain on comps.
BJ's Restaurants downgraded to Hold from Buy at Loop Capital » 07:3007/1607/16/20
Loop Capital analyst…
Loop Capital analyst Lynne Collier downgraded BJ's Restaurants to Hold from Buy with a price target of $21, down from $30.
|Over a month ago|
BJ's Restaurants price target raised to $33 from $30 at CL King » 08:4406/1706/17/20
CL King analyst Todd…
CL King analyst Todd Brooks raised the firm's price target on BJ's Restaurants to $33 from $30 and reiterates a Buy rating on the shares. The company's business update last week indicated a stronger than expected recovery in same-store sales and a faster than expected reopening pace for units serving dine-in customers, Brooks tells investors in a research note. As a result, the analyst increased fiscal 2020 and 2021 estimates for BJ's.
BJ's Restaurants CEO says early results from reopened dining rooms 'encouraging' » 14:4706/1106/11/20
"Early results from…
"Early results from our re-opened dining rooms are encouraging, with double-digit weekly sequential sales increases over the last four weeks. Our guests are returning in increasing numbers to dine with us at BJ's. We are seeing a strong appreciation for the safety measures and precautions we have implemented for them and our team members, including our new touchless digital menus and mobile pay options. As our dining rooms re-open, we continue to bring back furloughed team members and we look forward to bringing back even more as additional dining rooms open in the next several weeks," commented Greg Trojan, CEO of BJ's Restaurants.
BJ's Restaurants says comparable restaurant sales down 64% in Q2-to-date » 14:4506/1106/11/20
BJ's Restaurants is…
BJ's Restaurants is providing a business update to highlight its recent and ongoing progress recovering from the impact of COVID-19. The company's said "sales have continued to steadily improve with dining rooms re-opening and off-premise sales remaining elevated. As of today, the company has re-opened dining rooms in 178 of its restaurants throughout 24 states. Additionally it has begun re-opening certain temporarily closed restaurants. The company expects to have 208 restaurants operating this week, with dining rooms opened at more than 85% of the locations. Fiscal 2020 second quarter comparable restaurant sales through June 9, 2020 have declined approximately 64%, including the impact of full or partial closures due to recent demonstrations across the United States. For the week ended June 9, 2020, comparable restaurant sales were down 42.6% and average weekly sales were approximately $64,900, including the impact of 41 restaurants that were operating on limited hours or closed due to the nationwide demonstrations. For restaurants with re-opened dining rooms that were not impacted by curfews or closures, sales volumes during the week ended June 9, 2020, recovered to approximately 70% of comparable prior year levels with average weekly sales of approximately $75,000. Off-premise sales at these restaurants remain at more than 70% of levels before dining rooms began re-opening. At current sales levels and more dining rooms scheduled to re-open over the next few weeks, the Company will return to generating positive cash flow."
BJ's Restaurants resumed at Equal Weight from Overweight at Stephens » 07:2505/1905/19/20
Stephens analyst James…
Stephens analyst James Rutherford resumed BJ's Restaurants with an Equal Weight, down from the firm's previous Overweight rating, with a $22 price target as he assumed coverage of the stock. While he sees BJ's as "a truly differentiated concept and that it is on a path to grow units," he believes the company will lag peers in sales recovery due to its heavy California footprint and high mix of late-night and alcohol sales.