Restaurant Brands International Inc (NYSE:QSR) (TSE:QSR) released its quarterly earnings data on Thursday. The restaurant operator reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09, MarketWatch Earnings reports. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the company earned $0.43 EPS. Restaurant Brands International’s revenue for the quarter was up 12.4% on a year-over-year basis.
Restaurant Brands International (NYSE QSR) traded down 1.57% during midday trading on Thursday, hitting $66.33. The company’s stock had a trading volume of 1,563,178 shares. The company has a market cap of $15.67 billion, a price-to-earnings ratio of 46.42 and a beta of 1.77. The company’s 50-day moving average is $64.90 and its 200 day moving average is $61.25. Restaurant Brands International has a one year low of $42.35 and a one year high of $68.89.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th were paid a dividend of $0.20 per share. 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 dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, September 14th. Restaurant Brands International’s payout ratio is currently 55.56%.
Restaurant Brands International announced that its board has initiated a share buyback plan on Wednesday, August 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Jose E. Cil sold 132,911 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $63.77, for a total transaction of $8,475,734.47. Following the sale, the executive vice president now directly owns 174,631 shares of the company’s stock, valued at $11,136,218.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ali Hedayat bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average cost of $61.32 per share, for a total transaction of $306,600.00. Following the completion of the acquisition, the director now owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The disclosure for this purchase can be found here. 3.05% of the stock is currently owned by corporate insiders.
QSR has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $69.00 price objective on shares of Restaurant Brands International in a report on Monday, September 11th. Nomura initiated coverage on Restaurant Brands International in a report on Wednesday, July 12th. They issued a “buy” rating and a $73.00 price objective for the company. Zacks Investment Research upgraded Restaurant Brands International from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Tuesday, September 12th. Credit Suisse Group upgraded Restaurant Brands International from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $74.00 in a report on Thursday, September 7th. Finally, Scotiabank lifted their price objective on Restaurant Brands International from $63.00 to $65.00 and gave the stock an “outperform” rating in a report 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. The company has an average rating of “Buy” and a consensus target price of $69.13.
Restaurant Brands International Company Profile
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.