Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, October 16th.
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. The company has positive record of earnings surprises in recent quarters and estimates too have been stable ahead of its third quarter earnings release. 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.”
A number of other research analysts also recently commented on the stock. UBS AG reaffirmed a “buy” rating and set a $68.00 price objective (up from $64.00) on shares of Restaurant Brands International in a research report on Thursday, August 3rd. Instinet assumed coverage on shares of Restaurant Brands International in a research note on Wednesday, July 12th. They issued a “buy” rating and a $73.00 target price for the company. Nomura assumed coverage on shares of Restaurant Brands International in a research note on Wednesday, July 12th. They issued a “buy” rating and a $73.00 target price for the company. BidaskClub upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $69.00 price objective on shares of Restaurant Brands International in a research note on Monday, September 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Restaurant Brands International currently has a consensus rating of “Buy” and a consensus price target of $69.06.
Shares of Restaurant Brands International (NYSE:QSR) opened at 65.15 on Monday. Restaurant Brands International has a one year low of $42.35 and a one year high of $68.40. The stock’s 50 day moving average price is $64.90 and its 200 day moving average price is $61.25. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 45.59 and a beta of 1.77.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Restaurant Brands International had a net margin of 12.40% and a return on equity of 24.53%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Analysts forecast that Restaurant Brands International will post $1.90 earnings per share for the current year.
Restaurant Brands International declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
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In other Restaurant Brands International news, Director Ali Hedayat bought 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $61.32 per share, for a total transaction of $306,600.00. Following the transaction, the director now owns 25,966 shares in the company, valued at approximately $1,592,235.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jose E. Cil sold 60,832 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $64.01, for a total transaction of $3,893,856.32. Following the transaction, the executive vice president now owns 73,618 shares in the company, valued at $4,712,288.18. The disclosure for this sale can be found here. 3.05% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in QSR. FMR LLC raised its position in shares of Restaurant Brands International by 10.9% in the 2nd quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock valued at $969,362,000 after acquiring an additional 1,528,447 shares during the period. Fiera Capital Corp raised its position in shares of Restaurant Brands International by 481.6% in the 2nd quarter. Fiera Capital Corp now owns 1,338,343 shares of the restaurant operator’s stock valued at $83,591,000 after acquiring an additional 1,108,231 shares during the period. Mik Capital LLC acquired a new stake in shares of Restaurant Brands International in the 2nd quarter valued at approximately $52,536,000. CI Global Investments Inc. increased its stake in Restaurant Brands International by 15,143.9% during the 2nd quarter. CI Global Investments Inc. now owns 500,000 shares of the restaurant operator’s stock worth $31,270,000 after purchasing an additional 496,720 shares in the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in Restaurant Brands International during the 2nd quarter worth approximately $29,644,000. Institutional investors and hedge funds own 76.42% of the company’s stock.
Restaurant Brands International Company Profile
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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