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BJ's Restaurants (BJRI) Stock Jumps 5.7%: Will It Continue to Soar?

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BJ's Restaurants (BJRI - Free Report) shares ended the last trading session 5.7% higher at $28.15. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.9% loss over the past four weeks.

Shares of BJ's Restaurants jumped after the company announced the opening of its restaurant in Charlotte, North Carolina. This marks the company’s first restaurant opening in 2022. The company emphasizes on re-staffing initiative to boost sales and operational excellence.

This restaurant chain is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of -85.7%. Revenues are expected to be $297.94 million, up 33.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For BJ's Restaurants, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BJRI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

BJ's Restaurants belongs to the Zacks Retail - Restaurants industry. Another stock from the same industry, Chuy's Holdings (CHUY - Free Report) , closed the last trading session 4.9% higher at $27.84. Over the past month, CHUY has returned -18.6%.

Chuy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.31. Compared to the company's year-ago EPS, this represents a change of -26.2%. Chuy's currently boasts a Zacks Rank of #3 (Hold).


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