Texas Roadhouse, Inc. (NASDAQ:TXRH) Raises Dividend to $0.68 Per Share

Texas Roadhouse, Inc. (NASDAQ:TXRH) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.68 per share by the restaurant operator on Tuesday, April 1st. This represents a $2.72 dividend on an annualized basis and a dividend 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 by an average of 26.7% annually over the last three years. Texas Roadhouse has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.4 %

TXRH opened at $169.13 on Friday. The stock has a market cap 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 has a 12 month low of $146.51 and a 12 month high of $206.04. The company has a fifty day simple moving average of $179.58 and a 200 day simple moving average of $180.02.

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

Wall Street Analysts Forecast Growth

TXRH has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. UBS Group upped their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird increased their target price on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada cut their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Loop Capital dropped their target price on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.50.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Company Profile

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.