Restaurant Brands International Inc. (QSR) Stock Rating Upgraded by Zacks Investment Research
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $71.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.66% from the stock’s current price.
According to Zacks, “Restaurant Brands shares have widely outpaced its industry over the past year. Going forward, various sales-boosting initiatives like improving services, reimaging restaurants, menu innovation along with continued expansion should drive the top line. In fact, the company believes that there is opportunity to grow both the Tim Hortons and Burger King brands across the world. However, rising costs along with negative currency translation might dent the company’s profitability, while a soft consumer spending environment could keep comps under pressure. Nevertheless, moving ahead, the company aims to continue focusing on guest satisfaction and franchisee profitability, which it believes will drive long-term growth of brands. The acquisition of Popeye’s also bodes well as it adds a solid brand to its portfolio, which should further ramp up unit growth and aid in reducing costs”
A number of other brokerages have also weighed in on QSR. Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 price target on shares of Restaurant Brands International in a report on Monday, September 11th. UBS AG set a $68.00 price target on shares of Restaurant Brands International and gave the company a “buy” rating in a report on Tuesday, August 22nd. Instinet began coverage on shares of Restaurant Brands International in a report on Wednesday, July 12th. They issued a “buy” rating and a $73.00 price target for the company. Nomura began coverage on shares of Restaurant Brands International in a report on Wednesday, July 12th. They issued a “buy” rating and a $73.00 price target for the company. Finally, BidaskClub raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.56.
Shares of Restaurant Brands International (QSR) traded up 0.73% during midday trading on Monday, hitting $63.48. The stock had a trading volume of 80,036 shares. The stock has a market cap of $15.00 billion, a PE ratio of 44.42 and a beta of 1.77. The stock has a 50-day moving average of $61.23 and a 200 day moving average of $59.10. Restaurant Brands International has a 52 week low of $42.35 and a 52 week high of $64.97.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last issued its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. Restaurant Brands International’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. Analysts anticipate that Restaurant Brands International will post $1.89 EPS for the current fiscal year.
Restaurant Brands International declared that its Board of Directors 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 buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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In other news, Director Ali Hedayat purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $61.32 per share, with a total value of $306,600.00. Following the acquisition, the director now directly owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Restaurant Brands International by 10.9% in the 2nd quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock valued at $969,362,000 after buying an additional 1,528,447 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Restaurant Brands International by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 8,445,609 shares of the restaurant operator’s stock valued at $528,188,000 after buying an additional 81,256 shares during the period. Vanguard Group Inc. grew its holdings in shares of Restaurant Brands International by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,987,402 shares of the restaurant operator’s stock valued at $311,912,000 after buying an additional 268,220 shares during the period. Valinor Management L.P. grew its holdings in shares of Restaurant Brands International by 7.8% in the 1st quarter. Valinor Management L.P. now owns 3,752,166 shares of the restaurant operator’s stock valued at $209,145,000 after buying an additional 270,071 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Restaurant Brands International by 0.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,840,422 shares of the restaurant operator’s stock valued at $115,100,000 after buying an additional 10,625 shares during the period. 76.64% of the stock is owned by institutional investors.
Restaurant Brands International Company Profile
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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