Oppenheimer Holdings, Inc. Raises Restaurant Brands International Inc. (QSR) Price Target to $75.00
Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) had its price target lifted by Oppenheimer Holdings, Inc. from $70.00 to $75.00 in a research note issued to investors on Thursday. The firm currently has an outperform rating on the restaurant operator’s stock.
A number of other analysts also recently commented on QSR. BidaskClub upgraded shares of Restaurant Brands International from a hold rating to a buy rating in a research report on Wednesday, June 21st. Nomura started coverage on shares of Restaurant Brands International in a research report on Wednesday, July 12th. They set a buy rating and a $73.00 price target on the stock. Instinet started coverage on shares of Restaurant Brands International in a research report on Wednesday, July 12th. They set a buy rating and a $73.00 price target on the stock. Stephens boosted 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, August 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Restaurant Brands International from $63.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Restaurant Brands International currently has a consensus rating of Buy and a consensus target price of $68.60.
Shares of Restaurant Brands International (NYSE:QSR) traded down 0.25% on Thursday, reaching $67.43. 827,968 shares of the company’s stock traded hands. Restaurant Brands International has a 52 week low of $42.35 and a 52 week high of $68.40. The company has a 50 day moving average price of $64.50 and a 200 day moving average price of $60.97. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 47.19 and a beta of 1.77.
Restaurant Brands International (NYSE:QSR) (TSE:QSR) last released its quarterly earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 EPS 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $0.41 EPS. Restaurant Brands International’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Restaurant Brands International will post $1.90 earnings per share for the current fiscal year.
Restaurant Brands International declared that its Board of Directors has approved a share buyback plan on Wednesday, August 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, September 14th. This is an increase from Restaurant Brands International’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Restaurant Brands International’s payout ratio is presently 55.56%.
In related news, Director Ali Hedayat acquired 5,000 shares of the 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 completion of the transaction, the director now 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 Securities & Exchange Commission, which is available at this link. Also, EVP Jose E. Cil sold 60,832 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $64.01, for a total transaction of $3,893,856.32. Following the transaction, the executive vice president now directly owns 73,618 shares in the company, valued at $4,712,288.18. The disclosure for this sale can be found here. Insiders own 3.05% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its position in Restaurant Brands International by 10.2% during the second quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock valued at $135,000 after purchasing an additional 200 shares in the last quarter. Commonwealth Bank of Australia grew its position in Restaurant Brands International by 9.0% during the second quarter. Commonwealth Bank of Australia now owns 3,167 shares of the restaurant operator’s stock valued at $197,000 after purchasing an additional 261 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Restaurant Brands International by 10.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after purchasing an additional 306 shares in the last quarter. Cigna Investments Inc. New purchased a new position in Restaurant Brands International during the second quarter valued at approximately $211,000. Finally, Tower Research Capital LLC TRC grew its position in Restaurant Brands International by 82.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,446 shares of the restaurant operator’s stock valued at $280,000 after purchasing an additional 1,560 shares in the last quarter. 76.43% 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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