Royal Bank Of Canada Boosts Restaurant Brands International Inc. (QSR) Price Target to $77.00
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) had its target price increased by equities researchers at Royal Bank Of Canada from $69.00 to $77.00 in a research note issued on Monday. The firm currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 14.19% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued research reports about the stock. UBS AG reissued a “buy” rating and issued a $68.00 target price (up previously from $64.00) on shares of Restaurant Brands International in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Restaurant Brands International from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Scotiabank increased their target price on shares of Restaurant Brands International from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Monday, September 18th. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $62.00 target price on shares of Restaurant Brands International in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Restaurant Brands International currently has a consensus rating of “Buy” and a consensus target price of $69.13.
Shares of Restaurant Brands International (NYSE:QSR) opened at 67.43 on Monday. Restaurant Brands International has a one year low of $42.35 and a one year high of $68.40. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 47.19 and a beta of 1.77. The firm has a 50-day moving average of $64.50 and a 200-day moving average of $60.97.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Restaurant Brands International will post $1.90 EPS for the current fiscal year.
Restaurant Brands International declared that its board has approved a stock buyback program on Wednesday, August 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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In related news, Director Ali Hedayat purchased 5,000 shares of Restaurant Brands International stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $61.32 per share, with a total value of $306,600.00. Following the purchase, the director now directly owns 25,966 shares of the company’s stock, valued at approximately $1,592,235.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jose E. Cil sold 132,911 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the completion of the transaction, the executive vice president now directly 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.
Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in Restaurant Brands International by 10.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock worth $135,000 after acquiring an additional 200 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in Restaurant Brands International by 9.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock worth $197,000 after acquiring an additional 261 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Restaurant Brands International by 10.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock worth $179,000 after acquiring an additional 306 shares in the last quarter. Cigna Investments Inc. New bought a new position in Restaurant Brands International during the 2nd quarter worth about $211,000. Finally, Tower Research Capital LLC TRC grew its holdings in Restaurant Brands International by 82.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,446 shares of the restaurant operator’s stock worth $280,000 after acquiring an additional 1,560 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.
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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