Zacks Investment Research upgraded shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) from a hold rating to a buy rating in a report issued on Wednesday, October 18th. Zacks Investment Research currently has $75.00 price target on the restaurant operator’s stock.
According to Zacks, “Restaurant Brands’ shares have widely outpaced its industry over the past year. Going forward, various sales-boosting initiatives like improving services, reimaging restaurants, menu innovation along with continued expansion should drive the top line. In fact, the company believes that there is opportunity to grow all three of its brands across the world. Also, the company aims to continue focusing on guest satisfaction and franchisee profitability, which it believes will drive long-term growth of brands. However, rising costs along with negative currency translation might dent the company’s profitability, while a soft consumer spending environment could keep comps under pressure. Meanwhile, the company has positive record of earnings surprises in recent quarters and estimates too have been stable ahead of its third quarter earnings release.”
Other equities analysts have also recently issued research reports about the company. UBS AG reaffirmed a buy rating and set a $68.00 target price (up previously from $64.00) on shares of Restaurant Brands International in a research note on Thursday, August 3rd. BidaskClub raised Restaurant Brands International from a hold rating to a buy rating in a research note on Wednesday, June 21st. Scotiabank lifted their target price on Restaurant Brands International from $63.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, August 3rd. Bank of America Corporation reaffirmed a neutral rating and set a $62.00 target price on shares of Restaurant Brands International in a research note on Monday, August 14th. Finally, Instinet assumed coverage on Restaurant Brands International in a research note on Wednesday, July 12th. They set a buy rating and a $73.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $69.06.
Restaurant Brands International (QSR) traded down 0.35% during midday trading on Wednesday, hitting $65.15. 1,993,236 shares of the company’s stock traded hands. The company has a market capitalization of $15.39 billion, a PE ratio of 45.59 and a beta of 1.77. Restaurant Brands International has a 52 week low of $42.35 and a 52 week high of $68.89. The company has a 50 day moving average of $65.10 and a 200-day moving average of $61.34.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.09. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Restaurant Brands International had a return on equity of 24.53% and a net margin of 12.40%. Restaurant Brands International’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Equities research analysts predict that Restaurant Brands International will post $1.94 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 15th will be paid a $0.21 dividend. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.29%. Restaurant Brands International’s payout ratio is presently 55.17%.
Restaurant Brands International announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Ali Hedayat bought 5,000 shares of Restaurant Brands International stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $61.32 per share, for a total transaction of $306,600.00. Following the acquisition, the director now owns 25,966 shares in the company, valued at $1,592,235.12. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jose E. Cil sold 60,832 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $64.01, for a total value of $3,893,856.32. Following the completion of the sale, the executive vice president now owns 73,618 shares of the company’s stock, valued at $4,712,288.18. The disclosure for this sale can be found here. Insiders own 3.05% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in Restaurant Brands International by 1,949.5% in the 2nd quarter. Creative Planning now owns 43,059 shares of the restaurant operator’s stock worth $2,693,000 after purchasing an additional 40,958 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Restaurant Brands International by 0.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,840,422 shares of the restaurant operator’s stock worth $115,100,000 after purchasing an additional 10,625 shares during the last quarter. Newbrook Capital Advisors LP lifted its holdings in Restaurant Brands International by 14.8% in the 2nd quarter. Newbrook Capital Advisors LP now owns 1,044,604 shares of the restaurant operator’s stock worth $65,375,000 after purchasing an additional 134,538 shares during the last quarter. Credit Suisse AG lifted its holdings in Restaurant Brands International by 4.2% in the 1st quarter. Credit Suisse AG now owns 448,706 shares of the restaurant operator’s stock worth $25,011,000 after purchasing an additional 18,038 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Restaurant Brands International by 82.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,446 shares of the restaurant operator’s stock worth $280,000 after purchasing an additional 1,560 shares during the last quarter. Hedge funds and other institutional investors own 76.42% of the company’s stock.
About Restaurant Brands International
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company had over 20,000 restaurants in more than 100 countries and the United States territories, as of December 31, 2016. It operates through two segments: Tim Hortons (TH) and Burger King (BK). Tim Hortons restaurants are quick service restaurants with a menu that includes blend coffee, tea, espresso-based hot and cold specialty drinks, baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps and soups, among others.
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