Restaurant Brands International (NYSE:QSR) (TSE:QSR) declared that its Board of Directors has initiated a stock buyback plan, which allows the company to repurchase $300.00 million in shares on Wednesday, August 2nd, EventVestor reports. This repurchase authorization allows the restaurant operator to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Restaurant Brands International from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Instinet assumed 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 target for the company. Nomura assumed 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 target for the company. BidaskClub upgraded shares of Restaurant Brands International from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, UBS AG restated a “buy” rating and issued a $68.00 price target (up from $64.00) on shares of Restaurant Brands International in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $63.63.
Shares of Restaurant Brands International (NYSE:QSR) opened at 60.57 on Friday. The stock has a market cap of $14.31 billion, a P/E ratio of 42.39 and a beta of 1.77. The company’s 50-day moving average is $61.00 and its 200-day moving average is $57.84. 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 posted its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Restaurant Brands International had a net margin of 12.66% and a return on equity of 22.71%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, equities research analysts anticipate that Restaurant Brands International will post $1.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 annualized dividend and a yield of 1.32%. This is a boost from Restaurant Brands International’s previous quarterly dividend of $0.19. Restaurant Brands International’s dividend payout ratio is currently 52.78%.
In related news, Director Ali Hedayat bought 5,000 shares of the stock in a transaction on Friday, August 4th. The shares were acquired at an average price of $61.32 per share, for a total transaction of $306,600.00. Following the purchase, the director now owns 25,966 shares of the company’s stock, valued at $1,592,235.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jose E. Cil sold 1,760 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $59.75, for a total transaction of $105,160.00. Following the transaction, the executive vice president now owns 22,855 shares in the company, valued at approximately $1,365,586.25. The disclosure for this sale can be found here. Insiders have sold a total of 250,000 shares of company stock worth $14,849,219 in the last 90 days. Company insiders own 4.20% of the company’s stock.
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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