Restaurant Brands International Inc. (QSR) Stock Rating Lowered by Zacks Investment Research
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Restaurant Brands’ second-quarter 2017 adjusted earnings of $0.51 per share beat the Zacks Consensus Estimate by 13.3% and rose 24.4% year over year. Revenues of $1.13 billion increased nearly 9% year over year but fell just short of the consensus mark. Notably, this marked the 10th consecutive quarterly earnings beat for the company. Meanwhile, though comps rose at Burger King, the same fell at Tim Hortons and Popeyes. Going into the second half, the company aims to maintain the momentum at Burger King, while improving comps growth at Tim Hortons and Popeyes via various sales-boosting initiatives. Additionally, it plans to continue focusing on expansion, guest satisfaction and franchisee profitability to drive long-term growth. Notably, Restaurant Brands’ shares outpaced the industry in the last six months. Yet, rising costs along with currency woes may dent profits, while a soft consumer spending environment might hurt comps.”
Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Restaurant Brands International from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. UBS AG raised shares of Restaurant Brands International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 14th. OTR Global reaffirmed a “positive” rating on shares of Restaurant Brands International in a research report on Tuesday, April 11th. Bank of America Corporation reaffirmed a “neutral” rating and set a $62.00 price target (up from $58.00) on shares of Restaurant Brands International in a research report on Tuesday, June 13th. Finally, Stephens upped their price target on shares of Restaurant Brands International from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. Restaurant Brands International presently has an average rating of “Buy” and an average target price of $63.63.
Shares of Restaurant Brands International (NYSE:QSR) traded down 0.21% during mid-day trading on Monday, hitting $61.98. The stock had a trading volume of 1,229,870 shares. The stock has a market cap of $14.64 billion, a P/E ratio of 43.37 and a beta of 1.77. The company’s 50 day moving average price is $61.24 and its 200 day moving average price is $56.95. Restaurant Brands International has a 12-month low of $42.35 and a 12-month high of $62.94.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last announced its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. Equities research analysts predict that Restaurant Brands International will post $1.89 EPS for the current fiscal year.
Restaurant Brands International declared that its board has authorized a share repurchase plan on Wednesday, August 2nd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the restaurant operator to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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In other Restaurant Brands International news, EVP Jose E. Cil sold 142,700 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $59.05, for a total value of $8,426,435.00. Following the completion of the transaction, the executive vice president now directly owns 21,684 shares of the company’s stock, valued at approximately $1,280,440.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jose E. Cil sold 105,540 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,510,429.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 250,000 shares of company stock valued at $14,849,219. 4.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in Restaurant Brands International by 937.3% in the first quarter. Alliancebernstein L.P. now owns 1,181,675 shares of the restaurant operator’s stock worth $65,867,000 after buying an additional 1,067,761 shares during the last quarter. FMR LLC raised its stake in shares of 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. Bank of Montreal Can raised its stake in shares of 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. Think Investments LP bought a new stake in shares of Restaurant Brands International during the first quarter worth about $17,954,000. Finally, Principal Financial Group Inc. raised its stake in shares of 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. 75.54% of the stock is owned by 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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