OTR Global upgraded shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) to a positive rating in a research note published on Monday, October 16th, The Fly reports.
A number of other research analysts also recently weighed in on the company. Royal Bank Of Canada reissued a buy rating and issued a $69.00 price target on shares of Restaurant Brands International in a research note on Monday, September 11th. Nomura started coverage on Restaurant Brands International in a research note on Wednesday, July 12th. They issued a buy rating and a $73.00 price target on the stock. Zacks Investment Research raised Restaurant Brands International from a hold rating to a buy rating and set a $73.00 price target on the stock in a research note on Tuesday, September 12th. Credit Suisse Group raised Restaurant Brands International from a neutral rating to an outperform rating and increased their price target for the company from $60.00 to $74.00 in a research note on Thursday, September 7th. Finally, Scotiabank increased their price target on 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $69.06.
Restaurant Brands International (QSR) traded down 0.35% during mid-day trading on Monday, hitting $65.15. The stock had a trading volume of 1,993,236 shares. The stock has a 50 day moving average of $65.10 and a 200-day moving average of $61.34. Restaurant Brands International has a 1-year low of $42.35 and a 1-year high of $68.89. The firm has a market cap of $15.39 billion, a P/E ratio of 45.59 and a beta of 1.77.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Restaurant Brands International had a return on equity of 24.53% and a net margin of 12.40%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. Analysts predict that Restaurant Brands International will post $1.94 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.20. Restaurant Brands International’s dividend payout ratio is 55.17%.
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 shares. This buyback authorization permits the restaurant operator to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Restaurant Brands International news, EVP Jose E. Cil sold 60,832 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $64.01, for a total transaction of $3,893,856.32. Following the completion of the transaction, the executive vice president now owns 73,618 shares in the company, valued at approximately $4,712,288.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jose E. Cil sold 132,911 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $63.77, for a total value of $8,475,734.47. Following the transaction, the executive vice president now owns 174,631 shares of the company’s stock, valued at approximately $11,136,218.87. The disclosure for this sale can be found here. 3.05% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its holdings in shares of Restaurant Brands International by 10.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock valued at $135,000 after acquiring an additional 200 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Restaurant Brands International by 9.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock valued at $197,000 after acquiring an additional 261 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Restaurant Brands International by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after acquiring an additional 306 shares in the last quarter. Enterprise Financial Services Corp grew its holdings in shares of Restaurant Brands International by 16,250.0% in the 3rd quarter. Enterprise Financial Services Corp now owns 3,270 shares of the restaurant operator’s stock valued at $209,000 after acquiring an additional 3,250 shares in the last quarter. Finally, Cigna Investments Inc. New bought a new position in shares of Restaurant Brands International in the 2nd quarter valued at about $211,000. Institutional investors own 76.42% of the company’s stock.
About Restaurant Brands International
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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