RCI Hospitality Holdings Inc Expected to Post Q2 2024 Earnings of $0.70 Per Share (NASDAQ:RICK)

RCI Hospitality Holdings Inc (NASDAQ:RICK) – Research analysts at HC Wainwright lowered their Q2 2024 earnings estimates for shares of RCI Hospitality in a research report issued to clients and investors on Thursday, April 11th. HC Wainwright analyst S. Buck now expects that the restaurant operator will earn $0.70 per share for the quarter, down from their previous forecast of $0.93. HC Wainwright currently has a “Buy” rating and a $115.00 target price on the stock. The consensus estimate for RCI Hospitality’s current full-year earnings is $3.84 per share. HC Wainwright also issued estimates for RCI Hospitality’s Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $1.05 EPS and FY2024 earnings at $3.53 EPS.

RCI Hospitality (NASDAQ:RICK) last posted its quarterly earnings data on Thursday, February 8th. The restaurant operator reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). The firm had revenue of $73.90 million for the quarter, compared to the consensus estimate of $73.30 million. RCI Hospitality had a return on equity of 10.67% and a net margin of 8.81%. RCI Hospitality’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share.

RICK has been the subject of several other reports. TheStreet downgraded shares of RCI Hospitality from a “b-” rating to a “c+” rating in a report on Tuesday, March 5th. StockNews.com raised shares of RCI Hospitality from a “hold” rating to a “buy” rating in a report on Monday, April 8th.

RCI Hospitality Price Performance

NASDAQ RICK opened at $50.82 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $56.13 and a 200 day simple moving average of $58.42. The company has a market cap of $475.68 million, a P/E ratio of 18.22, a P/E/G ratio of 1.01 and a beta of 1.65. RCI Hospitality has a 1 year low of $50.43 and a 1 year high of $79.46.

RCI Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, March 14th. RCI Hospitality’s dividend payout ratio (DPR) is presently 8.60%.

Insider Buying and Selling at RCI Hospitality

In related news, CEO Eric Scott Langan purchased 1,000 shares of RCI Hospitality stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $54.54 per share, with a total value of $54,540.00. Following the acquisition, the chief executive officer now directly owns 703,000 shares in the company, valued at $38,341,620. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.34% of the company’s stock.

Hedge Funds Weigh In On RCI Hospitality

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of RCI Hospitality by 2.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,294 shares of the restaurant operator’s stock valued at $400,000 after buying an additional 122 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of RCI Hospitality by 28.6% in the 4th quarter. Wells Fargo & Company MN now owns 849 shares of the restaurant operator’s stock valued at $79,000 after buying an additional 189 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of RCI Hospitality by 7.3% in the 2nd quarter. Captrust Financial Advisors now owns 2,827 shares of the restaurant operator’s stock valued at $137,000 after buying an additional 193 shares in the last quarter. Swiss National Bank raised its stake in shares of RCI Hospitality by 1.1% in the 2nd quarter. Swiss National Bank now owns 18,100 shares of the restaurant operator’s stock valued at $1,375,000 after buying an additional 200 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of RCI Hospitality by 7.0% in the 4th quarter. Legal & General Group Plc now owns 3,218 shares of the restaurant operator’s stock valued at $300,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds 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.