$1.20 Billion in Sales Expected for Restaurant Brands International Inc. (QSR) This Quarter
Brokerages expect Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) to post $1.20 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Restaurant Brands International’s earnings. The highest sales estimate is $1.23 billion and the lowest is $1.17 billion. Restaurant Brands International reported sales of $1.08 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The business is expected to report its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that Restaurant Brands International will report full year sales of $1.20 billion for the current year, with estimates ranging from $4.52 billion to $4.67 billion. For the next financial year, analysts anticipate that the company will post sales of $5.03 billion per share, with estimates ranging from $4.83 billion to $5.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Restaurant Brands International.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings data 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share.
Several research analysts have recently commented on QSR shares. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Tuesday, August 29th. Credit Suisse Group raised shares of Restaurant Brands International from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $74.00 in a report on Thursday, September 7th. BMO Capital Markets raised their target price on shares of Restaurant Brands International from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. UBS AG set a $68.00 target price on shares of Restaurant Brands International and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $69.00 target price on shares of Restaurant Brands International in a report on Monday, September 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.60.
Shares of Restaurant Brands International (NYSE:QSR) opened at 67.43 on Friday. Restaurant Brands International has a 12-month low of $42.35 and a 12-month high of $67.92. The firm’s 50-day moving average price is $64.50 and its 200-day moving average price is $60.97. The firm has a market capitalization of $15.93 billion, a P/E ratio of 47.19 and a beta of 1.77.
Restaurant Brands International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were given a $0.20 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.19. Restaurant Brands International’s dividend payout ratio (DPR) is currently 55.56%.
In related news, Director Ali Hedayat bought 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $61.32 per share, for a total transaction of $306,600.00. Following the completion of the transaction, the director now directly owns 25,966 shares of the company’s stock, valued at approximately $1,592,235.12. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jose E. Cil sold 132,911 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the completion of the sale, the executive vice president now owns 174,631 shares in the company, valued at approximately $11,136,218.87. The disclosure for this sale can be found here. Company insiders own 3.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of QSR. BNP Paribas Arbitrage SA boosted its position in Restaurant Brands International by 10.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Restaurant Brands International by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 306 shares in the last quarter. Commonwealth Bank of Australia boosted its position in Restaurant Brands International by 9.0% in the second quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock valued at $197,000 after buying an additional 261 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in Restaurant Brands International in the second quarter valued at approximately $211,000. Finally, SG Americas Securities LLC acquired a new stake in Restaurant Brands International in the first quarter valued at approximately $230,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Restaurant Brands International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Restaurant Brands International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.