Wedbush Research Analysts Increase Earnings Estimates for Wingstop Inc. (NASDAQ:WING)
Wingstop Inc. (NASDAQ:WING) – Investment analysts at Wedbush increased their FY2017 earnings estimates for shares of Wingstop in a research report issued on Friday. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $0.71 per share for the year, up from their prior forecast of $0.70. Wedbush has a “Outperform” rating and a $36.00 price objective on the stock. Wedbush also issued estimates for Wingstop’s Q4 2017 earnings at $0.14 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.81 EPS.
Wingstop (NASDAQ:WING) last released its earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. Wingstop had a net margin of 19.28% and a negative return on equity of 26.83%. The business had revenue of $24.70 million during the quarter, compared to analyst estimates of $24.61 million. During the same period in the prior year, the business earned $0.15 earnings per share. ILLEGAL ACTIVITY WARNING: “Wedbush Research Analysts Increase Earnings Estimates for Wingstop Inc. (NASDAQ:WING)” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/07/wedbush-research-analysts-increase-earnings-estimates-for-wingstop-inc-nasdaqwing.html.
Several other equities research analysts have also recently commented on WING. Jefferies Group LLC reiterated a “hold” rating and set a $28.00 price target on shares of Wingstop in a research report on Wednesday, April 12th. Cowen and Company reiterated an “outperform” rating and set a $34.00 price target on shares of Wingstop in a research report on Sunday, April 23rd. Stephens upgraded shares of Wingstop from an “equal weight” rating to an “overweight” rating and set a $32.00 price target for the company in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of Wingstop from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research report on Wednesday, May 3rd. Finally, Barclays PLC lifted their price target on shares of Wingstop from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $34.40.
Shares of Wingstop (WING) opened at 32.28 on Monday. The firm has a market capitalization of $935.38 million, a price-to-earnings ratio of 53.71 and a beta of 0.60. Wingstop has a 1-year low of $24.74 and a 1-year high of $33.42. The company’s 50-day moving average is $30.67 and its 200 day moving average is $28.98.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Sunday, September 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 30th.
In related news, Director Sidney J. Feltenstein sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $30.06, for a total transaction of $781,560.00. Following the completion of the transaction, the director now owns 39,750 shares in the company, valued at $1,194,885. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Mravle sold 34,605 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $30.82, for a total transaction of $1,066,526.10. Following the transaction, the chief financial officer now owns 75,400 shares of the company’s stock, valued at approximately $2,323,828. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,510 shares of company stock valued at $2,448,937. Corporate insiders own 1.76% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WING. Eagle Asset Management Inc. purchased a new position in shares of Wingstop during the first quarter worth about $4,907,000. Texas Permanent School Fund boosted its position in shares of Wingstop by 1.1% in the first quarter. Texas Permanent School Fund now owns 20,898 shares of the restaurant operator’s stock worth $591,000 after buying an additional 231 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Wingstop by 37.2% in the first quarter. TD Asset Management Inc. now owns 34,300 shares of the restaurant operator’s stock worth $970,000 after buying an additional 9,300 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Wingstop by 291.0% in the first quarter. LS Investment Advisors LLC now owns 4,321 shares of the restaurant operator’s stock worth $122,000 after buying an additional 3,216 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Wingstop by 4.7% in the first quarter. Comerica Bank now owns 31,495 shares of the restaurant operator’s stock worth $929,000 after buying an additional 1,401 shares in the last quarter.
Wingstop Company Profile
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. The Company operates through two segments: Franchise and Company. As of December 31, 2016, the Company offers its guests 11 flavors on bone-in and boneless chicken wings paired with hand-cut, seasoned fries and sides.
Receive News & Ratings for Wingstop Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wingstop Inc. and related companies with MarketBeat.com's FREE daily email newsletter.