Wingstop Inc. (WING) Issues Quarterly Earnings Results
Wingstop Inc. (NASDAQ:WING) posted its quarterly earnings results on Thursday. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02, Bloomberg Earnings reports. Wingstop had a net margin of 19.28% and a negative return on equity of 28.04%. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $25.13 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis.
In other Wingstop news, Chairman Charles R. Morrison sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $34.71, for a total transaction of $867,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stacy Peterson sold 11,557 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $34.60, for a total transaction of $399,872.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,083 shares of company stock valued at $1,622,033. 1.76% of the stock is currently owned by company insiders.
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WING has been the subject of several recent analyst reports. Wedbush reaffirmed a “buy” rating and set a $36.00 price objective on shares of Wingstop in a research note on Thursday, July 6th. BidaskClub downgraded shares of Wingstop from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Wingstop from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Barclays PLC reaffirmed an “equal weight” rating and set a $34.00 price objective (up from $32.00) on shares of Wingstop in a research note on Friday, August 4th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Wingstop in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Wingstop currently has a consensus rating of “Buy” and an average price target of $35.44.
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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