Restaurant Brands International (NYSE:QSR) (TSE:QSR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $72.00 price objective on the restaurant operator’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.75% from the company’s current price.
According to Zacks, “Restaurant Brands’ shares have outpaced its industry over the past year. Moreover, 2018 earnings estimates have gone up over the past two months, reflecting analysts’ optimism surrounding the stock. 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. 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. The company aims to continue focusing on guest satisfaction and franchisee profitability. 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.”
A number of other equities analysts also recently issued reports on the stock. Evercore ISI began coverage on shares of Restaurant Brands International in a report on Monday, December 11th. They issued an “outperform” rating and a $75.00 price target for the company. Citigroup increased their price target on shares of Restaurant Brands International from $71.00 to $78.00 and gave the company a “buy” rating in a report on Monday, November 6th. Wells Fargo & Co increased their price target on shares of Restaurant Brands International from $60.00 to $68.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Royal Bank of Canada increased their price target on shares of Restaurant Brands International from $69.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Finally, Oppenheimer increased their price target on shares of Restaurant Brands International from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Restaurant Brands International currently has an average rating of “Buy” and an average target price of $70.00.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Restaurant Brands International had a net margin of 12.40% and a return on equity of 23.53%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. equities analysts forecast that Restaurant Brands International will post 2 EPS for the current fiscal year.
In other Restaurant Brands International news, CEO Daniel S. Schwartz sold 708,582 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $64.49, for a total transaction of $45,696,453.18. Following the completion of the transaction, the chief executive officer now directly owns 886,272 shares in the company, valued at approximately $57,155,681.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jose E. Cil sold 70,146 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $66.01, for a total transaction of $4,630,337.46. Following the transaction, the executive vice president now owns 343,496 shares of the company’s stock, valued at $22,674,170.96. The disclosure for this sale can be found here. Insiders have sold a total of 5,056,166 shares of company stock valued at $327,220,722 over the last 90 days. 3.05% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in QSR. FMR LLC boosted its stake in shares of Restaurant Brands International by 10.9% during the 2nd quarter. FMR LLC now owns 15,492,590 shares of the restaurant operator’s stock worth $969,362,000 after purchasing an additional 1,528,447 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Restaurant Brands International by 3,083.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,257,541 shares of the restaurant operator’s stock worth $80,332,000 after purchasing an additional 1,218,041 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Restaurant Brands International by 481.6% during the 2nd quarter. Fiera Capital Corp now owns 1,338,343 shares of the restaurant operator’s stock worth $83,591,000 after purchasing an additional 1,108,231 shares during the last quarter. Argent Capital Management LLC acquired a new stake in shares of Restaurant Brands International during the 3rd quarter worth about $33,235,000. Finally, CI Global Investments Inc. boosted its stake in shares of Restaurant Brands International by 15,143.9% during the 2nd quarter. CI Global Investments Inc. now owns 500,000 shares of the restaurant operator’s stock worth $31,270,000 after purchasing an additional 496,720 shares during the last quarter. 78.35% of the stock is currently owned by institutional investors.
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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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