Restaurant Brands International Inc. (QSR) Price Target Raised to $66.00 at BMO Capital Markets
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) had its price target raised by BMO Capital Markets from $63.00 to $66.00 in a research note published on Thursday. BMO Capital Markets currently has an outperform rating on the restaurant operator’s stock.
A number of other equities research analysts have also issued reports on QSR. UBS AG increased their target price on shares of Restaurant Brands International from $60.00 to $64.00 and gave the stock a buy rating in a report on Monday, April 24th. BidaskClub downgraded shares of Restaurant Brands International from a hold rating to a sell rating in a research report on Thursday. Stephens increased their price objective on shares of Restaurant Brands International from $60.00 to $68.00 and gave the company an overweight rating in a research report on Thursday. Instinet began coverage on shares of Restaurant Brands International in a research report on Wednesday, July 12th. They issued a buy rating and a $73.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. raised shares of Restaurant Brands International from a market perform rating to an outperform rating and set a $70.00 price objective on the stock in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $63.63.
Shares of Restaurant Brands International (NYSE QSR) traded up 2.34% during trading on Thursday, reaching $62.11. 1,677,755 shares of the company traded hands. The company has a market capitalization of $14.67 billion, a price-to-earnings ratio of 43.46 and a beta of 1.77. The firm’s 50 day moving average price is $61.24 and its 200-day moving average price is $56.95. Restaurant Brands International has a 52 week low of $42.35 and a 52 week high of $62.94.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The company had revenue of $1.13 billion for 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%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Equities analysts anticipate that Restaurant Brands International will post $1.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, September 14th. Restaurant Brands International’s dividend payout ratio (DPR) is 52.78%.
Restaurant Brands International declared that its board has approved a share buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Ali Hedayat bought 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 25,966 shares of the company’s stock, valued at approximately $1,592,235.12. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jose E. Cil sold 105,540 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $59.86, for a total transaction of $6,317,624.40. Following the completion of the transaction, the executive vice president now directly owns 58,644 shares in the company, valued at $3,510,429.84. The disclosure for this sale can be found here. Insiders sold a total of 250,000 shares of company stock worth $14,849,219 over the last ninety days. Insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Restaurant Brands International by 7.6% in the first quarter. FMR LLC now owns 13,964,143 shares of the restaurant operator’s stock worth $777,880,000 after buying an additional 989,549 shares during the period. Principal Financial Group Inc. increased its position in Restaurant Brands International by 4.0% in the first quarter. Principal Financial Group Inc. now owns 8,364,353 shares of the restaurant operator’s stock worth $466,229,000 after buying an additional 321,262 shares during the period. Bank of Montreal Can increased its position in Restaurant Brands International by 12.5% in the first quarter. Bank of Montreal Can now owns 7,266,766 shares of the restaurant operator’s stock worth $405,048,000 after buying an additional 804,609 shares during the period. Vanguard Group Inc. increased its position in Restaurant Brands International by 4.3% in the first quarter. Vanguard Group Inc. now owns 4,719,182 shares of the restaurant operator’s stock worth $263,048,000 after buying an additional 193,389 shares during the period. Finally, Valinor Management L.P. increased its position in Restaurant Brands International by 7.8% in the first quarter. Valinor Management L.P. now owns 3,752,166 shares of the restaurant operator’s stock worth $209,145,000 after buying an additional 270,071 shares during the period. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
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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