Wingstop Inc. to Post Q3 2016 Earnings of $0.12 Per Share, SunTrust Banks Forecasts (WING)
Wingstop Inc. (NASDAQ:WING) – Research analysts at SunTrust Banks upped their Q3 2016 earnings per share (EPS) estimates for Wingstop in a note issued to investors on Wednesday. SunTrust Banks analyst J. Bartlett now expects that the brokerage will earn $0.12 per share for the quarter, up from their prior estimate of $0.10. SunTrust Banks also issued estimates for Wingstop’s Q4 2016 earnings at $0.15 EPS.
Other equities analysts have also recently issued research reports about the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Wingstop in a report on Monday, August 8th. Zacks Investment Research cut Wingstop from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Wedbush assumed coverage on Wingstop in a report on Wednesday, July 6th. They issued an “outperform” rating and a $35.00 price target for the company. Morgan Stanley reaffirmed a “buy” rating and issued a $38.00 price target on shares of Wingstop in a report on Friday, August 5th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $30.00 price target on shares of Wingstop in a report on Monday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.27.
Wingstop (NASDAQ:WING) opened at 28.40 on Monday. The stock has a market cap of $815.88 million, a PE ratio of 54.10 and a beta of 0.63. The stock has a 50 day moving average price of $29.43 and a 200-day moving average price of $27.44. Wingstop has a one year low of $20.31 and a one year high of $33.10.
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Wingstop (NASDAQ:WING) last announced its earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm earned $22.70 million during the quarter, compared to analysts’ expectations of $22.05 million. Wingstop had a negative return on equity of 218.88% and a net margin of 18.15%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS.
Several large investors have recently bought and sold shares of WING. Wellington Management Group LLP raised its stake in Wingstop by 59.4% in the first quarter. Wellington Management Group LLP now owns 1,968,024 shares of the company’s stock worth $44,635,000 after buying an additional 733,201 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Wingstop during the first quarter valued at $13,551,000. California State Teachers Retirement System raised its position in shares of Wingstop by 134.2% in the second quarter. California State Teachers Retirement System now owns 33,002 shares of the company’s stock valued at $899,000 after buying an additional 18,912 shares during the last quarter. BlackRock Group LTD acquired a new position in shares of Wingstop during the first quarter valued at $3,004,000. Finally, Franklin Resources Inc. raised its position in shares of Wingstop by 5.5% in the first quarter. Franklin Resources Inc. now owns 1,194,419 shares of the company’s stock valued at $27,090,000 after buying an additional 61,785 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.
In other news, Director Neal K. Aronson sold 6,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $28.50, for a total value of $171,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Vernon sold 6,540 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $28.70, for a total value of $187,698.00. Following the completion of the sale, the insider now owns 80,349 shares of the company’s stock, valued at $2,306,016.30. The disclosure for this sale can be found here. 45.70% of the stock is owned by insiders.
Wingstop Inc is a franchisor and operator of restaurants that specialize in cooked-to-order, hand-sauced and tossed chicken wings. The Company offers its guests with over 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides. It is a casual chicken wings-focused restaurant chain with various concepts, which include wings as add-on menu items or focus on wings in a bar or sports-centric setting.
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