Texas Roadhouse, Inc. (NASDAQ:TXRH) Plans Quarterly Dividend of $0.68

Texas Roadhouse, Inc. (NASDAQ:TXRH) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be given a dividend of 0.68 per share by the restaurant operator on Tuesday, April 1st. This represents a $2.72 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61.

Texas Roadhouse has raised its dividend payment by an average of 26.7% per year over the last three years. Texas Roadhouse has a payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Texas Roadhouse to earn $8.28 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 29.5%.

Texas Roadhouse Trading Down 1.4 %

Texas Roadhouse stock opened at $169.13 on Friday. Texas Roadhouse has a 1-year low of $146.51 and a 1-year high of $206.04. The firm’s fifty day simple moving average is $179.58 and its 200-day simple moving average is $180.02. The company has a market capitalization of $11.28 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.23 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. On average, equities research analysts predict that Texas Roadhouse will post 7.23 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at $1,794,600. This represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TXRH. Citigroup upped their target price on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets boosted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. UBS Group raised their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Finally, Truist Financial lowered their price target on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse presently has an average rating of “Moderate Buy” and an average target price of $192.50.

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.