Restaurant Brands International (QSR) Hits New 52-Week High at $48.13
Restaurant Brands International (NYSE:QSR) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $48.13 and last traded at $48.07, with a volume of 349,694 shares trading hands. The stock had previously closed at $47.43.
QSR has been the topic of several recent research reports. OTR Global raised shares of Restaurant Brands International from a “mixed” rating to a “positive” rating in a research note on Monday, July 18th. 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. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Restaurant Brands International in a research note on Wednesday, June 22nd. RBC Capital Markets reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Restaurant Brands International in a research note on Wednesday, August 3rd. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Restaurant Brands International in a research note on Friday, May 27th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.09.
The company has a market cap of $11.21 billion and a PE ratio of 44.42. The company has a 50 day moving average of $44.24 and a 200 day moving average of $40.30.
Restaurant Brands International (NYSE:QSR) last issued its earnings results on Thursday, August 4th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm posted $0.30 EPS. The firm’s revenue was down .2% compared to the same quarter last year. Analysts anticipate that Restaurant Brands International will post $1.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 6th will be paid a $0.16 dividend. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, September 1st.
In other news, Director Ali Hedayat acquired 5,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was bought at an average price of $47.73 per share, with a total value of $238,650.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $954,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and institutional investors have recently added to or reduced their stakes in QSR. I.G. Investment Management LTD. increased its position in Restaurant Brands International by 15.7% in the fourth quarter. I.G. Investment Management LTD. now owns 1,648,756 shares of the company’s stock valued at $61,695,000 after buying an additional 223,848 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Restaurant Brands International by 7.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,776,131 shares of the company’s stock valued at $103,423,000 after buying an additional 186,166 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Restaurant Brands International by 28.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 168,759 shares of the company’s stock valued at $6,304,000 after buying an additional 36,958 shares in the last quarter.
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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