Analysts Anticipate Wingstop Inc. (WING) Will Announce Quarterly Sales of $25.10 Million
Brokerages forecast that Wingstop Inc. (NASDAQ:WING) will post sales of $25.10 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Wingstop’s earnings, with estimates ranging from $24.61 million to $25.51 million. Wingstop posted sales of $21.81 million during the same quarter last year, which suggests a positive year over year growth rate of 15.1%. The business is scheduled to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Wingstop will report full year sales of $25.10 million for the current year, with estimates ranging from $102.69 million to $104.54 million. For the next year, analysts expect that the company will post sales of $113.12 million per share, with estimates ranging from $111.09 million to $115.43 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Wingstop.
Wingstop (NASDAQ:WING) last issued its earnings results on Thursday, August 3rd. The restaurant operator reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Wingstop had a net margin of 19.28% and a negative return on equity of 28.04%. The firm had revenue of $24.70 million for the quarter, compared to analyst estimates of $24.61 million. During the same quarter last year, the business posted $0.15 earnings per share.
WING has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Wingstop from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Goldman Sachs Group, Inc. (The) raised shares of Wingstop from a “buy” rating to a “conviction-buy” rating and set a $36.00 price target on the stock in a report on Tuesday, May 23rd. BidaskClub lowered shares of Wingstop from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Cowen and Company reissued an “outperform” rating and issued a $36.00 price target on shares of Wingstop in a report on Sunday, May 28th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $28.00 price target on shares of Wingstop in a report on Thursday, May 18th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.25.
In other news, insider Stacy Peterson sold 11,557 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $34.60, for a total value of $399,872.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Morrison sold 25,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.71, for a total transaction of $867,750.00. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Wingstop by 200,013.0% during the 1st quarter. BlackRock Inc. now owns 3,473,961 shares of the restaurant operator’s stock valued at $98,242,000 after buying an additional 3,472,225 shares during the period. Wellington Management Group LLP boosted its position in Wingstop by 15.6% during the 1st quarter. Wellington Management Group LLP now owns 3,955,238 shares of the restaurant operator’s stock valued at $111,855,000 after buying an additional 533,086 shares during the period. Goldman Sachs Group Inc. boosted its position in Wingstop by 56.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,453,769 shares of the restaurant operator’s stock valued at $44,921,000 after buying an additional 523,811 shares during the period. Cortina Asset Management LLC purchased a new stake in Wingstop during the 1st quarter valued at $13,430,000. Finally, Marshall Wace North America L.P. purchased a new stake in Wingstop during the 2nd quarter valued at $11,947,000.
Shares of Wingstop (NASDAQ WING) opened at 32.90 on Friday. Wingstop has a 12 month low of $24.74 and a 12 month high of $35.91. The firm has a 50-day moving average of $32.71 and a 200-day moving average of $29.88. The firm has a market cap of $956.47 million, a price-to-earnings ratio of 51.33 and a beta of 0.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Sunday, September 3rd will be paid a $0.07 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.85%. Wingstop’s dividend payout ratio (DPR) is 10.94%.
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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