Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) had its price target increased by Wells Fargo & Company from $60.00 to $68.00 in a research note issued to investors on Friday. They currently have a market perform rating on the restaurant operator’s stock.
Other analysts also recently issued reports about the company. UBS AG restated a buy rating and issued a $68.00 price target (up from $64.00) on shares of Restaurant Brands International in a research report on Thursday, August 3rd. Royal Bank Of Canada raised their price target on Restaurant Brands International from $69.00 to $77.00 and gave the stock an outperform rating in a research report on Monday, October 23rd. They noted that the move was a valuation call. BidaskClub downgraded Restaurant Brands International from a buy rating to a hold rating in a research report on Thursday, July 27th. Scotiabank raised their price target on Restaurant Brands International from $63.00 to $65.00 and gave the stock an outperform rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Restaurant Brands International from a hold rating to a buy rating and set a $71.00 price target for the company in a research report on Monday, September 18th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Restaurant Brands International has a consensus rating of Buy and an average target price of $69.06.
Restaurant Brands International (NYSE:QSR) opened at 64.60 on Friday. Restaurant Brands International has a 52 week low of $42.35 and a 52 week high of $68.89. The stock has a market capitalization of $15.26 billion, a P/E ratio of 45.21 and a beta of 1.77. The company has a 50 day moving average of $65.14 and a 200 day moving average of $61.48.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Restaurant Brands International had a return on equity of 23.53% 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 period last year, the company earned $0.43 earnings per share. Equities analysts expect that Restaurant Brands International will post $1.94 EPS for the current fiscal year.
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Restaurant Brands International declared that its board has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.30%. The ex-dividend date is Thursday, December 14th. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s payout ratio is 55.17%.
In other Restaurant Brands International news, EVP Jose E. Cil sold 60,832 shares of Restaurant Brands International stock in a transaction dated 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 transaction, the executive vice president now owns 73,618 shares in the company, valued at $4,712,288.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ali Hedayat bought 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was bought at an average price of $61.32 per share, for a total transaction 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 disclosure for this purchase can be found here. 3.05% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of QSR. Ameriprise Financial Inc. grew its stake in Restaurant Brands International by 130.1% in the first quarter. Ameriprise Financial Inc. now owns 20,131 shares of the restaurant operator’s stock valued at $1,122,000 after purchasing an additional 11,384 shares during the last quarter. SG Americas Securities LLC purchased a new position in Restaurant Brands International in the first quarter valued at about $230,000. PNC Financial Services Group Inc. grew its stake in Restaurant Brands International by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after purchasing an additional 306 shares during the last quarter. Vanguard Group Inc. grew its stake in Restaurant Brands International by 4.3% in the first quarter. Vanguard Group Inc. now owns 4,719,182 shares of the restaurant operator’s stock valued at $263,048,000 after purchasing an additional 193,389 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Restaurant Brands International in the first quarter valued at about $4,804,000. Institutional investors own 76.24% 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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