Wingstop Inc. (WING) to Post FY2017 Earnings of $0.72 Per Share, Jefferies Group Forecasts
Wingstop Inc. (NASDAQ:WING) – Research analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for Wingstop in a research report issued on Friday. Jefferies Group analyst A. Barish now forecasts that the restaurant operator will earn $0.72 per share for the year, up from their previous forecast of $0.66. Jefferies Group currently has a “Hold” rating and a $28.00 target price on the stock. Jefferies Group also issued estimates for Wingstop’s FY2018 earnings at $0.77 EPS.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Wingstop from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 4th. Cowen and Company reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Wingstop in a report on Sunday, April 23rd. Stephens raised Wingstop from an “equal weight” rating to an “overweight” rating and set a $32.00 price objective on the stock in a report on Monday, April 24th. Goldman Sachs Group, Inc. (The) raised Wingstop from a “buy” rating to a “conviction-buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, May 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Wingstop in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Wingstop currently has a consensus rating of “Buy” and an average price target of $34.40.
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Wingstop (WING) opened at 32.28 on Monday. Wingstop has a 12 month low of $24.74 and a 12 month high of $33.42. The firm’s 50-day moving average price is $30.67 and its 200-day moving average price is $28.98. The stock has a market cap of $935.38 million, a P/E ratio of 53.71 and a beta of 0.60.
Wingstop (NASDAQ:WING) last issued its quarterly earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $24.70 million for the quarter, compared to the consensus estimate of $24.61 million. Wingstop had a negative return on equity of 26.83% and a net margin of 19.28%. During the same quarter in the prior year, the business posted $0.15 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Sunday, September 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 30th.
In other news, CFO Michael Mravle sold 34,605 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $30.82, for a total transaction of $1,066,526.10. Following the sale, the chief financial officer now owns 75,400 shares of the company’s stock, valued at approximately $2,323,828. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Flynn Dekker sold 4,102 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $30.59, for a total value of $125,480.18. Following the sale, the insider now directly owns 44,014 shares in the company, valued at approximately $1,346,388.26. The disclosure for this sale can be found here. Insiders have sold a total of 80,510 shares of company stock worth $2,448,937 in the last three months. Corporate insiders own 1.76% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Eagle Asset Management Inc. purchased a new stake in shares of Wingstop during the first quarter valued at approximately $4,907,000. Texas Permanent School Fund raised its stake 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 valued at $591,000 after buying an additional 231 shares during the period. TD Asset Management Inc. raised its stake 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 valued at $970,000 after buying an additional 9,300 shares during the period. LS Investment Advisors LLC raised its stake 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 valued at $122,000 after buying an additional 3,216 shares during the period. Finally, Comerica Bank raised its stake in shares of Wingstop by 4.7% in the first quarter. Comerica Bank now owns 31,495 shares of the restaurant operator’s stock valued at $929,000 after buying an additional 1,401 shares during the period.
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.
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