Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Restaurant Brands shares have widely outpaced its industry over the past year. Going forward, 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. Moving ahead, the company aims to continue focusing on guest satisfaction and franchisee profitability, which it believes will drive long-term growth of brands. 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.”
QSR has been the subject of several other research reports. BidaskClub upgraded shares of Restaurant Brands International from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Piper Jaffray Companies restated an “overweight” rating and set a $66.00 price target on shares of Restaurant Brands International in a research note on Tuesday, June 6th. CIBC upgraded shares of Restaurant Brands International from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Wednesday, June 14th. Bank of America Corporation restated a “neutral” rating and set a $62.00 price target (up previously from $58.00) on shares of Restaurant Brands International in a research note on Tuesday, June 13th. Finally, Scotiabank boosted their price target 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. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $65.69.
Restaurant Brands International (NYSE QSR) opened at 63.02 on Thursday. The company’s 50-day moving average is $61.23 and its 200 day moving average is $59.10. The firm has a market cap of $14.89 billion, a PE ratio of 44.10 and a beta of 1.77. Restaurant Brands International has a one year low of $42.35 and a one year high of $64.97.
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 the consensus estimate of $0.45 by $0.06. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. Restaurant Brands International’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. Equities analysts anticipate that Restaurant Brands International will post $1.89 earnings per share for the current year.
Restaurant Brands International declared that its board has initiated a share buyback program on Wednesday, August 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the restaurant operator to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Ali Hedayat acquired 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $61.32 per share, with a total value of $306,600.00. Following the acquisition, the director now directly owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc boosted its holdings in Restaurant Brands International by 21.9% during the 1st quarter. IFP Advisors Inc now owns 1,817 shares of the restaurant operator’s stock worth $101,000 after acquiring an additional 327 shares during the last quarter. Westpac Banking Corp boosted its holdings in Restaurant Brands International by 1,037.1% during the 1st quarter. Westpac Banking Corp now owns 1,933 shares of the restaurant operator’s stock worth $108,000 after acquiring an additional 1,763 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 during the last quarter. PNC Financial Services Group Inc. boosted 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 during the last quarter. Finally, Commonwealth Bank of Australia boosted 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 during the last quarter. 76.68% of the stock is currently owned by hedge funds and other institutional investors.
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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