RICK - RCI Hospitality: Is It Time To Buy?
2024-06-17 11:15:51 ET
Summary
- RCI Hospitality stock has dropped 30% due to falling same-store sales.
- The stock is now priced at under $44 per share, with a 12.22x multiple to annualized fiscal 2024 second-quarter EPS.
- RICK recorded second-quarter revenue of $72.28 million, up 1.1% year-over-year, with its multiple to sales now at its lowest level since 2021.
RCI Hospitality ( RICK ) has dipped 30% since my last article highlighted the fall in same-store sales ("SSS") as a cause for concern. The adult nightclub and restaurant owner is now changing hands for under $44 per share, a 12.2x multiple to its annualized fiscal 2024 second-quarter EPS. This was $0.90 per share , beating consensus but down a substantial 50 cents from EPS of $1.30 in the year-ago comp. I briefly owned a position in RICK in early 2023 but sold this off in response to the dip in SSS that has catalyzed a sustained fall in the company's value....
RCI Hospitality: Is It Time To Buy?