Credit Suisse Group upgraded shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) from a neutral rating to an outperform rating in a research note issued to investors on Thursday morning, MarketBeat reports. They currently have $74.00 target price on the restaurant operator’s stock, up from their previous target price of $60.00.
Several other research firms have also recently weighed in on QSR. BMO Capital Markets raised their price target on Restaurant Brands International from $63.00 to $66.00 and gave the company an outperform rating in a report on Thursday, August 3rd. Zacks Investment Research cut Restaurant Brands International from a buy rating to a hold rating in a report on Thursday, August 31st. Bank of America Corporation reaffirmed a neutral rating and issued a $62.00 price target on shares of Restaurant Brands International in a report on Monday, August 14th. UBS AG raised Restaurant Brands International from a market perform rating to an outperform rating in a report on Wednesday, June 14th. Finally, BidaskClub raised Restaurant Brands International from a hold rating to a buy rating in a report on Wednesday, June 21st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $65.06.
Shares of Restaurant Brands International (NYSE QSR) traded up 0.05% on Thursday, reaching $63.10. The company’s stock had a trading volume of 1,847,323 shares. Restaurant Brands International has a 12 month low of $42.35 and a 12 month high of $64.35. The firm’s 50-day moving average price is $60.91 and its 200-day moving average price is $58.83. The stock has a market cap of $14.91 billion, a P/E ratio of 44.16 and a beta of 1.77.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm posted $0.41 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, analysts forecast that Restaurant Brands International will post $1.89 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, September 14th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 52.78%.
Restaurant Brands International declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the restaurant operator to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, Director Ali Hedayat purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were acquired at an average cost of $61.32 per share, with a total value of $306,600.00. Following the purchase, the director now directly owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jose E. Cil sold 142,700 shares of Restaurant Brands International stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $59.05, for a total value of $8,426,435.00. Following the completion of the transaction, the executive vice president now directly owns 21,684 shares in the company, valued at $1,280,440.20. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in QSR. FMR LLC increased its stake in Restaurant Brands International by 10.9% in the 2nd quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock worth $969,362,000 after purchasing an additional 1,528,447 shares during the period. Fiera Capital Corp increased its stake in 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 worth $83,591,000 after purchasing an additional 1,108,231 shares during the period. Alliancebernstein L.P. increased its stake in Restaurant Brands International by 937.3% in the 1st quarter. Alliancebernstein L.P. now owns 1,181,675 shares of the restaurant operator’s stock worth $65,867,000 after purchasing an additional 1,067,761 shares during the period. Mik Capital LLC purchased a new position in Restaurant Brands International in the 2nd quarter worth approximately $52,536,000. Finally, CI Global Investments Inc. increased its stake in Restaurant Brands International by 15,143.9% in 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 during the period. 76.68% of the stock is currently owned by institutional investors and hedge funds.
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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