Wedbush Comments on Wingstop Inc.’s Q3 2024 Earnings (NASDAQ:WING)

Wingstop Inc. (NASDAQ:WING) – Research analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for shares of Wingstop in a research report issued to clients and investors on Friday, April 26th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $0.83 per share for the quarter, up from their prior estimate of $0.81. Wedbush currently has a “Outperform” rating and a $400.00 price target on the stock. The consensus estimate for Wingstop’s current full-year earnings is $3.03 per share. Wedbush also issued estimates for Wingstop’s FY2024 earnings at $3.08 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $0.99 EPS and FY2025 earnings at $3.66 EPS.

WING has been the subject of a number of other research reports. Benchmark reissued a “hold” rating on shares of Wingstop in a research report on Tuesday, April 23rd. Stifel Nicolaus raised their target price on shares of Wingstop from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Citigroup lifted their price target on shares of Wingstop from $320.00 to $375.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Jefferies Financial Group increased their price target on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Finally, Sanford C. Bernstein began coverage on Wingstop in a research report on Wednesday, February 14th. They set an “outperform” rating and a $340.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Wingstop has a consensus rating of “Hold” and an average target price of $294.17.

Wingstop Stock Up 3.4 %

Shares of NASDAQ:WING opened at $382.56 on Monday. The stock has a market cap of $11.24 billion, a PE ratio of 162.79, a P/E/G ratio of 6.61 and a beta of 1.68. Wingstop has a 12-month low of $150.08 and a 12-month high of $383.98. The business has a 50 day moving average of $354.56 and a 200-day moving average of $282.25.

Wingstop (NASDAQ:WING) last issued its quarterly earnings data on Wednesday, February 21st. The restaurant operator reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. Wingstop had a net margin of 15.25% and a negative return on equity of 17.66%. The company had revenue of $127.06 million for the quarter, compared to analyst estimates of $120.47 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The company’s revenue was up 21.2% on a year-over-year basis.

Wingstop Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Thursday, March 7th. Wingstop’s payout ratio is 37.45%.

Insider Activity at Wingstop

In other news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kilandigalu Madati sold 1,472 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $339.87, for a total value of $500,288.64. Following the sale, the director now directly owns 5,450 shares in the company, valued at $1,852,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,901 shares of company stock valued at $5,120,605 in the last 90 days. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wingstop

Several large investors have recently modified their holdings of WING. SG Americas Securities LLC raised its position in shares of Wingstop by 3.9% in the 3rd quarter. SG Americas Securities LLC now owns 9,336 shares of the restaurant operator’s stock worth $1,679,000 after acquiring an additional 352 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Wingstop by 13.1% in the third quarter. Copeland Capital Management LLC now owns 462,173 shares of the restaurant operator’s stock worth $83,117,000 after purchasing an additional 53,688 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Wingstop by 64.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,859 shares of the restaurant operator’s stock worth $514,000 after buying an additional 1,122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wingstop by 22.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,985 shares of the restaurant operator’s stock worth $1,076,000 after buying an additional 1,093 shares in the last quarter. Finally, Strs Ohio grew its position in shares of Wingstop by 101.1% during the 3rd quarter. Strs Ohio now owns 70,400 shares of the restaurant operator’s stock worth $12,660,000 after buying an additional 35,400 shares during the period.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.