RCI Hospitality (NASDAQ:RICK) Rating Reiterated by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of RCI Hospitality (NASDAQ:RICK) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $98.00 price objective on the restaurant operator’s stock.

Separately, StockNews.com upgraded RCI Hospitality from a hold rating to a buy rating in a research report on Wednesday, August 21st.

RCI Hospitality Price Performance

Shares of RICK opened at $46.65 on Tuesday. RCI Hospitality has a 12-month low of $37.61 and a 12-month high of $69.40. The business has a 50-day simple moving average of $45.43 and a two-hundred day simple moving average of $47.89. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80. The stock has a market cap of $419.85 million, a PE ratio of 22.87, a PEG ratio of 5.37 and a beta of 1.56.

RCI Hospitality (NASDAQ:RICK) last issued its earnings results on Thursday, August 8th. The restaurant operator reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($1.27). RCI Hospitality had a return on equity of 1.76% and a net margin of 1.67%. The firm had revenue of $76.18 million during the quarter, compared to analyst estimates of $72.79 million. The firm’s revenue was down 1.1% on a year-over-year basis. Analysts anticipate that RCI Hospitality will post 0.69 earnings per share for the current fiscal year.

RCI Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Monday, September 16th. This is a positive change from RCI Hospitality’s previous quarterly dividend of $0.06. RCI Hospitality’s payout ratio is 13.73%.

Institutional Investors Weigh In On RCI Hospitality

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of RCI Hospitality by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,204 shares of the restaurant operator’s stock valued at $360,000 after purchasing an additional 371 shares in the last quarter. Annex Advisory Services LLC boosted its position in shares of RCI Hospitality by 6.5% during the 1st quarter. Annex Advisory Services LLC now owns 6,947 shares of the restaurant operator’s stock valued at $403,000 after purchasing an additional 427 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of RCI Hospitality by 8.9% during the 4th quarter. BNP Paribas Financial Markets now owns 7,029 shares of the restaurant operator’s stock valued at $466,000 after purchasing an additional 575 shares in the last quarter. Ridgewood Investments LLC boosted its position in shares of RCI Hospitality by 2.4% during the 2nd quarter. Ridgewood Investments LLC now owns 25,558 shares of the restaurant operator’s stock valued at $1,113,000 after purchasing an additional 600 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of RCI Hospitality by 12.9% during the 2nd quarter. Rhumbline Advisers now owns 12,994 shares of the restaurant operator’s stock valued at $566,000 after purchasing an additional 1,481 shares in the last quarter. Institutional investors own 53.82% of the company’s stock.

About RCI Hospitality

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.