Why Is Texas Roadhouse (TXRH) Stock Rocketing Higher Today
Stock Story
Published Feb 16, 2024 11:41AM ET
Updated Feb 16, 2024 12:00PM ET
Why Is Texas Roadhouse (TXRH) Stock Rocketing Higher Today
What Happened: Shares of restaurant company Texas Roadhouse (NASDAQ:TXRH) jumped 10.9% in the morning session after the company reported fourth-quarter results with revenue and EPS slightly exceeding expectations, based on a same-store sales beat with strong contribution from " higher guest traffic." 2024 guidance was reiterated from the previous time Texas Roadhouse provided an outlook. This outlook specifically called for positive same-store sales next year. Growth is also expected to benefit from the company's continued store expansion, with plans for an additional 30 company-owned restaurants in the current year.
Lastly, the company highlighted its commitment towards returning value to shareholders with EPS growth of 14.3% and a dividend yield of 2.1%, driving a total return of 16.4% in 2023. On the other hand, the company continued to cite inflationary challenges, though management intends to offset these with a 2.2% menu price increase during the year. Overall, it was a decent quarter, showing that the company is staying on track.
Is now the time to buy Texas Roadhouse? Find out by reading the original article on StockStory.
What is the market telling us: Texas Roadhouse's shares are not very volatile than the market average and over the last year have had nomoves greater than 5%. Moves this big are very rare for Texas Roadhouse and that is indicating to us that this news had a significant impact on the market's perception of the business.
Texas Roadhouse is up 23.8% since the beginning of the year. Investors who bought $1,000 worth of Texas Roadhouse's shares 5 years ago would now be looking at an investment worth $2,252.
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Written By: Stock Story
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