Restaurant Brands International (NYSE:QSR) (TSE:QSR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “Shares of Restaurant Brands have outperformed the industry in the past six months. Recently, the company reported first-quarter 2019 results, wherein earnings missed the Zacks Consensus Estimate but revenues surpassed the same. However, both the top and bottom line increased on a year-over-year basis. Furthermore, solid expansion efforts, various sales building strategies and focus on franchise business model bode well for the company. Restaurant Brands is also optimistic about its strategies that are likely to drive comparable sales and profitability for all three iconic brands in the long run. Nonetheless, competition and increased labor wages might hurt profits. The company also has limited influence over its franchisees. Consequently, its ability to control restaurants’ operations, and implement operational initiatives and business strategies is restricted.”
A number of other equities research analysts also recently commented on the stock. BMO Capital Markets raised shares of Restaurant Brands International from a “market perform” rating to an “outperform” rating and set a $63.11 price objective on the stock in a research report on Wednesday, January 23rd. Citigroup increased their price objective on shares of Restaurant Brands International from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. KeyCorp increased their price objective on shares of Restaurant Brands International from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Sanford C. Bernstein started coverage on shares of Restaurant Brands International in a research report on Friday, April 5th. They issued an “outperform” rating on the stock. Finally, Oppenheimer increased their price objective on shares of Restaurant Brands International from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Restaurant Brands International currently has an average rating of “Buy” and an average price target of $68.90.
Shares of NYSE:QSR traded up $0.35 during trading hours on Wednesday, reaching $66.72. The stock had a trading volume of 226,673 shares, compared to its average volume of 1,930,682. Restaurant Brands International has a 1 year low of $50.20 and a 1 year high of $67.93. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 3.47. The company has a market cap of $17.12 billion, a PE ratio of 25.37, a P/E/G ratio of 2.64 and a beta of 1.39.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Monday, April 29th. The restaurant operator reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.04). Restaurant Brands International had a net margin of 11.16% and a return on equity of 29.58%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Restaurant Brands International will post 2.67 EPS for the current year.
In related news, insider Jill Granat sold 35,621 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $62.30, for a total value of $2,219,188.30. Following the transaction, the insider now directly owns 276,457 shares of the company’s stock, valued at approximately $17,223,271.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexandre Macedo bought 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was bought at an average cost of $64.73 per share, for a total transaction of $2,912,850.00. Following the completion of the transaction, the insider now directly owns 103,773 shares in the company, valued at $6,717,226.29. The disclosure for this purchase can be found here. Insiders sold a total of 327,585 shares of company stock worth $20,684,849 over the last ninety days. Insiders own 3.78% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of QSR. Bank of New York Mellon Corp grew its position in Restaurant Brands International by 29.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 395,339 shares of the restaurant operator’s stock worth $23,436,000 after purchasing an additional 90,954 shares during the last quarter. JPMorgan Chase & Co. grew its position in Restaurant Brands International by 297.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,884 shares of the restaurant operator’s stock worth $20,385,000 after purchasing an additional 257,278 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Restaurant Brands International during the 4th quarter worth $216,000. Quadrant Capital Group LLC grew its position in Restaurant Brands International by 219.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,813 shares of the restaurant operator’s stock worth $142,000 after purchasing an additional 1,933 shares during the last quarter. Finally, Intact Investment Management Inc. grew its position in Restaurant Brands International by 4.2% during the 4th quarter. Intact Investment Management Inc. now owns 527,208 shares of the restaurant operator’s stock worth $37,600,000 after purchasing an additional 21,400 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.
About Restaurant Brands International
Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brand names. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.
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