Zacks Investment Research upgraded shares of Restaurant Brands International (NYSE:QSR) (TSE:QSR) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $67.00 target price on the restaurant operator’s stock.
According to Zacks, “Restaurant Brands’ top line continues to gain from positive sales momentum at Burger King. Favorable tax rate also boosted the company’s bottom line in the last-reported quarter. Going forward, the company aims to maintain comps growth at its brands via various sales-boosting initiatives like improving services, reimaging restaurants and menu innovation. Additionally, it plans to continue focusing on expansion and franchisee profitability to drive long-term growth. The acquisition of Popeye’s also adds a solid brand to the company’s portfolio. Yet, competition and increased labor wages might dampen the company’s profits. Restaurant Brands’ shares have outperformed the industry in the past three months. Earnings estimates for the current quarter have also been stable over the past two months.”
Other research analysts have also recently issued research reports about the stock. Mizuho began coverage on shares of Restaurant Brands International in a report on Thursday, March 15th. They issued a buy rating and a $65.00 price target for the company. ValuEngine upgraded shares of Restaurant Brands International from a sell rating to a hold rating in a report on Saturday, June 2nd. Scotiabank reduced their price target on shares of Restaurant Brands International from $70.00 to $68.00 and set an outperform rating for the company in a report on Thursday, April 26th. BMO Capital Markets cut shares of Restaurant Brands International from an outperform rating to a market perform rating and set a $66.00 price target for the company. in a report on Monday, April 23rd. Finally, TheStreet upgraded shares of Restaurant Brands International from a c+ rating to a b rating in a report on Thursday, March 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $70.33.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Tuesday, April 24th. The restaurant operator reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 26.99%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. equities research analysts predict that Restaurant Brands International will post 2.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Tuesday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, May 14th. Restaurant Brands International’s payout ratio is 85.71%.
In other Restaurant Brands International news, Director Golnar Khosrowshahi bought 5,670 shares of Restaurant Brands International stock in a transaction that occurred on Monday, June 18th. The stock was acquired at an average price of $60.34 per share, for a total transaction of $342,127.80. Following the completion of the acquisition, the director now owns 5,670 shares of the company’s stock, valued at approximately $342,127.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.78% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Delpha Capital Management LLC acquired a new position in Restaurant Brands International during the fourth quarter worth $147,000. Moneta Group Investment Advisors LLC boosted its holdings in Restaurant Brands International by 45.3% during the first quarter. Moneta Group Investment Advisors LLC now owns 2,885 shares of the restaurant operator’s stock worth $164,000 after purchasing an additional 900 shares during the last quarter. Elkfork Partners LLC acquired a new position in Restaurant Brands International during the fourth quarter worth $177,000. Synovus Financial Corp acquired a new position in Restaurant Brands International during the first quarter worth $196,000. Finally, Timber Hill LLC acquired a new position in Restaurant Brands International during the first quarter worth $202,000. Institutional investors and hedge funds own 73.03% of the company’s stock.
Restaurant Brands International Company Profile
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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