RCI Hospitality Holdings, Inc. (RICK) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “RCI Hospitality Holdings, Inc. owns and/or operates adult nightclubs that offer live adult entertainment, restaurant, and bar services. It operates adult nightclubs under the name Rick’s Cabaret, Club Onyx, XTC Cabaret, Tootsie’s Cabaret, Cabaret North, Jaguars and Cabaret East. The Company also owns and operates adult Internet Websites. RCI Hospitality Holdings, Inc., formerly known as Rick’s Cabaret International, Inc., is based in Houston, Texas. “

Separately, Westpark Capital reiterated a buy rating and set a $30.00 price target (up from $29.00) on shares of RCI Hospitality Holdings in a report on Thursday, June 8th.

Shares of RCI Hospitality Holdings (RICK) opened at 23.96 on Tuesday. The stock has a 50 day moving average of $23.61 and a 200 day moving average of $19.77. The stock has a market cap of $232.84 million, a PE ratio of 21.66 and a beta of 0.25. RCI Hospitality Holdings has a 1-year low of $10.58 and a 1-year high of $26.85.

RCI Hospitality Holdings (NASDAQ:RICK) last issued its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $37.43 million during the quarter, compared to the consensus estimate of $37.64 million. RCI Hospitality Holdings had a net margin of 7.84% and a return on equity of 10.75%. During the same period in the previous year, the firm posted $0.34 earnings per share. Equities research analysts forecast that RCI Hospitality Holdings will post $1.44 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 11th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.50%. RCI Hospitality Holdings’s dividend payout ratio (DPR) is presently 10.62%.

A number of large investors have recently added to or reduced their stakes in RICK. Renaissance Technologies LLC increased its stake in RCI Hospitality Holdings by 4.2% in the second quarter. Renaissance Technologies LLC now owns 616,700 shares of the restaurant operator’s stock worth $14,702,000 after buying an additional 24,700 shares during the last quarter. Vanguard Group Inc. increased its stake in RCI Hospitality Holdings by 5.7% in the second quarter. Vanguard Group Inc. now owns 470,228 shares of the restaurant operator’s stock worth $11,210,000 after buying an additional 25,561 shares during the last quarter. LSV Asset Management increased its stake in RCI Hospitality Holdings by 4.8% in the second quarter. LSV Asset Management now owns 339,123 shares of the restaurant operator’s stock worth $8,084,000 after buying an additional 15,500 shares during the last quarter. Acadian Asset Management LLC increased its stake in RCI Hospitality Holdings by 17.1% in the second quarter. Acadian Asset Management LLC now owns 286,500 shares of the restaurant operator’s stock worth $6,831,000 after buying an additional 41,890 shares during the last quarter. Finally, Northern Trust Corp increased its stake in RCI Hospitality Holdings by 172.4% in the second quarter. Northern Trust Corp now owns 125,642 shares of the restaurant operator’s stock worth $2,996,000 after buying an additional 79,510 shares during the last quarter. Hedge funds and other institutional investors own 40.42% of the company’s stock.

About RCI Hospitality Holdings

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