Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) announced its quarterly earnings results on Friday. The restaurant operator reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03), Bloomberg Earnings reports. The firm had revenue of $85.16 million for the quarter, compared to the consensus estimate of $87.20 million. Ruth’s Hospitality Group had a net margin of 7.97% and a return on equity of 37.86%. Ruth’s Hospitality Group’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS.
Shares of Ruth’s Hospitality Group (NASDAQ:RUTH) traded up $0.75 during mid-day trading on Friday, reaching $21.25. 407,111 shares of the company traded hands, compared to its average volume of 178,152. The company has a quick ratio of 0.26, a current ratio of 0.37 and a debt-to-equity ratio of 0.24. The company has a market cap of $646.15, a PE ratio of 22.14, a PEG ratio of 1.40 and a beta of 0.34.
The business also recently announced a dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, November 8th. This is a boost from Ruth’s Hospitality Group’s previous dividend of $0.06. Ruth’s Hospitality Group’s dividend payout ratio (DPR) is currently 37.90%.
Ruth’s Hospitality Group announced that its Board of Directors has initiated a stock buyback program on Friday, November 3rd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Several equities research analysts recently weighed in on RUTH shares. Deutsche Bank AG reissued a “buy” rating and set a $24.00 price target (up previously from $22.50) on shares of Ruth’s Hospitality Group in a research report on Monday, July 10th. Zacks Investment Research raised shares of Ruth’s Hospitality Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group LLC reissued a “hold” rating and set a $20.00 price target on shares of Ruth’s Hospitality Group in a research report on Thursday, August 31st. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Ruth’s Hospitality Group in a research report on Tuesday, July 25th. Finally, BidaskClub downgraded shares of Ruth’s Hospitality Group from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Ruth’s Hospitality Group has a consensus rating of “Hold” and an average target price of $22.00.
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About Ruth’s Hospitality Group
Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.
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