Restaurant Brands International (QSR) Sets New 52-Week High at $44.93
Shares of Restaurant Brands International (NYSE:QSR) reached a new 52-week high on Wednesday . The company traded as high as $44.93 and last traded at $44.56, with a volume of 914,045 shares. The stock had previously closed at $43.50.
A number of analysts recently weighed in on QSR shares. Morgan Stanley lowered shares of Restaurant Brands International from an “overweight” rating to an “equal weight” rating and set a $43.00 price objective for the company. in a research note on Friday, April 8th. They noted that the move was a valuation call. Royal Bank Of Canada raised shares of Restaurant Brands International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $38.00 to $48.00 in a research note on Monday, April 11th. Piper Jaffray Cos. upped their price objective on shares of Restaurant Brands International from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. Zacks Investment Research raised shares of Restaurant Brands International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, Longbow Research reaffirmed a “neutral” rating on shares of Restaurant Brands International in a research note on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.00.
The company has a market cap of $10.39 billion and a PE ratio of 59.57. The stock’s 50-day moving average is $41.98 and its 200-day moving average is $38.47.
Restaurant Brands International (NYSE:QSR) last released its earnings results on Thursday, April 28th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.08. During the same quarter last year, the company posted $0.18 earnings per share. The business had revenue of $918.50 million for the quarter, compared to analysts’ expectations of $931.04 million. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts forecast that Restaurant Brands International will post $1.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Monday, May 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.60 annualized dividend and a yield of 1.38%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.14.
In related news, Director Marc Caira sold 100,000 shares of the stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $43.02, for a total transaction of $4,302,000.00. Following the transaction, the director now directly owns 121,513 shares in the company, valued at $5,227,489.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors have added to or reduced their stakes in the company. Shell Asset Management Co. acquired a new position in Restaurant Brands International during the fourth quarter valued at $1,126,000. Monashee Investment Management LLC acquired a new position in Restaurant Brands International during the fourth quarter valued at $1,223,000. Gulf International Bank UK Ltd increased its position in Restaurant Brands International by 5.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 57,752 shares of the company’s stock valued at $2,161,000 after buying an additional 2,760 shares during the period. Tributary Capital Management LLC increased its position in Restaurant Brands International by 13.6% in the fourth quarter. Tributary Capital Management LLC now owns 79,420 shares of the company’s stock valued at $2,967,000 after buying an additional 9,520 shares during the period. Finally, Garnet Equity Capital Holdings Inc. increased its position in Restaurant Brands International by 47.1% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 125,000 shares of the company’s stock valued at $4,670,000 after buying an additional 40,000 shares during the period.
Restaurant Brands International Inc is a quick service restaurant (QSR) company. The Company operates approximately 19,000 restaurants in over 100 countries and the United States territories. Its Burger King (BK) and Tim Hortons (TH) brands have similar franchised business models. The Company operates through two segments: TH, which includes all operations of its Tim Hortons brand and BK, which includes all operations of its Burger King brand.
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