Wingstop Inc (WING) to Post Q4 2019 Earnings of $0.24 Per Share, SunTrust Banks Forecasts
Wingstop Inc (NASDAQ:WING) – Equities researchers at SunTrust Banks decreased their Q4 2019 earnings estimates for Wingstop in a report released on Wednesday, November 14th. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will earn $0.24 per share for the quarter, down from their prior forecast of $0.25. SunTrust Banks currently has a “Buy” rating and a $72.00 target price on the stock.
Several other brokerages also recently issued reports on WING. Morgan Stanley downgraded Wingstop from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective for the company. in a research note on Thursday, October 18th. They noted that the move was a valuation call. Gordon Haskett began coverage on Wingstop in a research note on Thursday, October 18th. They issued a “buy” rating and a $81.00 price objective for the company. Wedbush downgraded Wingstop from an “outperform” rating to a “neutral” rating and set a $74.00 price objective for the company. in a research note on Monday, October 22nd. They noted that the move was a valuation call. Barclays increased their price objective on Wingstop from $52.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 9th. Finally, Stifel Nicolaus downgraded Wingstop from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $80.00 to $75.00 in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $64.13.
Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Monday, October 29th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $38.25 million during the quarter, compared to the consensus estimate of $38.02 million. Wingstop had a negative return on equity of 21.61% and a net margin of 21.14%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS.
A number of hedge funds have recently modified their holdings of WING. Catalyst Capital Advisors LLC acquired a new position in shares of Wingstop during the 2nd quarter valued at about $118,000. Everence Capital Management Inc. acquired a new position in shares of Wingstop during the 2nd quarter valued at about $212,000. GWM Advisors LLC acquired a new position in shares of Wingstop during the 3rd quarter valued at about $224,000. Hartford Investment Management Co. acquired a new position in shares of Wingstop during the 2nd quarter valued at about $228,000. Finally, Amalgamated Bank acquired a new position in shares of Wingstop during the 2nd quarter valued at about $245,000.
In other Wingstop news, insider Stacy Peterson sold 3,437 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $66.05, for a total value of $227,013.85. Following the transaction, the insider now directly owns 38,339 shares of the company’s stock, valued at approximately $2,532,290.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Hislop sold 5,900 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $69.11, for a total value of $407,749.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
The company also recently announced a special dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 26th will be given a $3.05 dividend. This represents a yield of 0.55%. The ex-dividend date is Friday, November 23rd. Wingstop’s payout ratio is currently 48.65%.
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.
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