Stock Repurchase Plan Declared by Ruth’s Hospitality Group (RUTH)
Ruth’s Hospitality Group (NASDAQ:RUTH) declared that its Board of Directors has approved a stock buyback program, which allows the company to buyback $60.00 million in outstanding shares on Friday, November 3rd, EventVestor reports. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Ruth’s Hospitality Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub lowered shares of Ruth’s Hospitality Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Ruth’s Hospitality Group in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC restated a “hold” rating and set a $20.00 price target on shares of Ruth’s Hospitality Group in a research note on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Ruth’s Hospitality Group (RUTH) opened at $19.90 on Thursday. Ruth’s Hospitality Group has a 12 month low of $14.90 and a 12 month high of $22.65. The company has a market cap of $638.36, a price-to-earnings ratio of 21.51, a PEG ratio of 1.39 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.26 and a current ratio of 0.37.
Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its earnings results on Friday, November 3rd. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Ruth’s Hospitality Group had a net margin of 7.47% and a return on equity of 35.03%. The firm had revenue of $85.16 million during the quarter, compared to analyst estimates of $87.20 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. research analysts forecast that Ruth’s Hospitality Group will post 1.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, November 8th. This is a positive change from Ruth’s Hospitality Group’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. Ruth’s Hospitality Group’s dividend payout ratio (DPR) is presently 37.50%.
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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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