$1.20 Billion in Sales Expected for Restaurant Brands International Inc. (QSR) This Quarter
Equities research analysts predict that Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) will report $1.20 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Restaurant Brands International’s earnings. The lowest sales estimate is $1.17 billion and the highest is $1.23 billion. Restaurant Brands International reported sales of $1.08 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The company is expected to issue its next quarterly earnings report on Monday, October 23rd.
According to Zacks, analysts expect that Restaurant Brands International will report full year sales of $1.20 billion for the current fiscal year, with estimates ranging from $4.52 billion to $4.66 billion. For the next financial year, analysts expect that the firm will report sales of $4.99 billion per share, with estimates ranging from $4.83 billion to $5.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Restaurant Brands International.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings data on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share.
Several analysts have commented on the stock. UBS AG upgraded shares of Restaurant Brands International from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Bank of America Corporation restated a “neutral” rating and set a $62.00 price objective on shares of Restaurant Brands International in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday. BidaskClub cut shares of Restaurant Brands International from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Restaurant Brands International from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Restaurant Brands International presently has a consensus rating of “Buy” and an average target price of $65.69.
In other news, Director Ali Hedayat bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $61.32 per share, for a total transaction of $306,600.00. Following the purchase, the director now directly owns 25,966 shares in the company, valued at approximately $1,592,235.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jose E. Cil sold 105,540 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $59.86, for a total transaction of $6,317,624.40. Following the completion of the transaction, the executive vice president now owns 58,644 shares of the company’s stock, valued at $3,510,429.84. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers acquired a new position in shares of Restaurant Brands International in the 2nd quarter valued at $802,000. Tower Research Capital LLC TRC lifted its stake in shares of Restaurant Brands International by 82.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,446 shares of the restaurant operator’s stock valued at $280,000 after purchasing an additional 1,560 shares during the period. Caxton Associates LP acquired a new position in shares of Restaurant Brands International in the 2nd quarter valued at $4,065,000. Newbrook Capital Advisors LP lifted its stake in shares of Restaurant Brands International by 14.8% in the 2nd quarter. Newbrook Capital Advisors LP now owns 1,044,604 shares of the restaurant operator’s stock valued at $65,375,000 after purchasing an additional 134,538 shares during the period. Finally, Prudential PLC raised its position in Restaurant Brands International by 19.4% during the second quarter. Prudential PLC now owns 144,939 shares of the restaurant operator’s stock worth $9,064,000 after acquiring an additional 23,538 shares during the period. Hedge funds and other institutional investors own 76.68% of the company’s stock.
Shares of Restaurant Brands International (NYSE:QSR) opened at 63.40 on Thursday. Restaurant Brands International has a 52 week low of $42.35 and a 52 week high of $64.97. The stock has a market capitalization of $14.98 billion, a PE ratio of 44.37 and a beta of 1.77. The stock has a 50 day moving average of $61.08 and a 200-day moving average of $58.99.
Restaurant Brands International declared that its board has initiated a stock repurchase plan on Wednesday, August 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be paid a $0.20 dividend. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, September 14th. Restaurant Brands International’s payout ratio is currently 52.78%.
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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