Bj's Restaurants, Inc. (BJRI): Cutting Valuation Range - Wells Fargo

October 20, 2016 8:08 AM EDT
Get Alerts BJRI Hot Sheet
Price: $35.80 +2.43%

Rating Summary:
    5 Buy, 13 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
Trade BJRI Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Wells Fargo analyst, Jeff Farmer, reiterated his Market Perform rating on shares of BJ's Restaurants (NASDAQ: BJRI) but cut the valuation range midpoint to $38 from $39 after 3Q16 confirmed fears of a significant slowdown in BJRI’s top-line. The company pointed to modestly improving 4Q-to-date same-store sales (SSS) while reducing its near-term unit growth forecast which the analyst sees as "slight positives from an otherwise underwhelming report".

BJRI posted 3Q16 EPS of $0.30, a penny below our estimate and $0.03 below the Street, on a 3.4% SSS decline (lower mix from lunch, election drag, a difficult CA lap) and 210bps store-level margin contraction.

The valuation range drops to $37-39 from $38-$40 and equates to 7.0-7.5x 2017E EBITDA.

For an analyst ratings summary and ratings history on BJ's Restaurants click here. For more ratings news on BJ's Restaurants click here.

Shares of BJ's Restaurants closed at $35.69 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Earnings

Related Entities

Wells Fargo

Add Your Comment