Brokerages Anticipate Wingstop Inc (WING) Will Announce Quarterly Sales of $38.19 Million

Wall Street brokerages forecast that Wingstop Inc (NASDAQ:WING) will post sales of $38.19 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Wingstop’s earnings, with the lowest sales estimate coming in at $36.91 million and the highest estimate coming in at $39.37 million. Wingstop posted sales of $26.03 million during the same quarter last year, which would indicate a positive year over year growth rate of 46.7%. The business is expected to announce its next earnings report after the market closes on Monday, October 29th.

On average, analysts expect that Wingstop will report full-year sales of $152.10 million for the current financial year, with estimates ranging from $150.60 million to $154.39 million. For the next year, analysts anticipate that the company will report sales of $171.60 million, with estimates ranging from $166.46 million to $177.69 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Wingstop.

Wingstop (NASDAQ:WING) last posted its quarterly earnings data on Thursday, August 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $37.04 million during the quarter, compared to analysts’ expectations of $36.92 million. Wingstop had a negative return on equity of 24.63% and a net margin of 22.15%. Wingstop’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share.

Several research firms have recently weighed in on WING. Zacks Investment Research raised Wingstop from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Saturday, October 13th. Robert W. Baird increased their price target on Wingstop from $53.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, October 12th. BidaskClub raised Wingstop from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 13th. Wedbush reissued an “outperform” rating and set a $74.00 price target (up from $70.00) on shares of Wingstop in a research report on Wednesday, October 10th. Finally, Barclays increased their price target on Wingstop from $52.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $62.93.

In other news, Chairman Charles R. Morrison sold 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $60.13, for a total value of $1,022,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stacy Peterson sold 5,259 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $58.87, for a total value of $309,597.33. Following the completion of the sale, the insider now directly owns 31,423 shares of the company’s stock, valued at $1,849,872.01. The disclosure for this sale can be found here. Insiders have sold 31,596 shares of company stock valued at $1,966,570 over the last three months. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WING. Schwab Charles Investment Management Inc. lifted its position in shares of Wingstop by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 143,900 shares of the restaurant operator’s stock valued at $6,797,000 after buying an additional 6,614 shares during the last quarter. BlackRock Inc. lifted its position in shares of Wingstop by 1.3% in the first quarter. BlackRock Inc. now owns 3,734,552 shares of the restaurant operator’s stock valued at $176,384,000 after buying an additional 47,285 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of Wingstop in the first quarter valued at approximately $1,449,000. Dimensional Fund Advisors LP lifted its position in shares of Wingstop by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 776,468 shares of the restaurant operator’s stock valued at $36,673,000 after buying an additional 57,897 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Wingstop by 46.9% in the first quarter. Sei Investments Co. now owns 24,066 shares of the restaurant operator’s stock valued at $1,137,000 after buying an additional 7,685 shares during the last quarter.

WING stock opened at $73.94 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of -1.53. The stock has a market cap of $2.00 billion, a PE ratio of 99.92, a PEG ratio of 4.14 and a beta of 1.03. Wingstop has a fifty-two week low of $31.53 and a fifty-two week high of $75.58.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, August 31st. This is a boost from Wingstop’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 0.49%. Wingstop’s dividend payout ratio is 48.65%.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.

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