Restaurant Brands International (NYSE:QSR) Price Target Raised to $80.00 at Truist Financial

Posted by Defense World Staff on May 4th, 2023

Restaurant Brands International (NYSE:QSR – Get Rating) (TSE:QSR) had its target price increased by Truist Financial from $78.00 to $80.00 in a report published on Wednesday morning, The Fly reports.

A number of other brokerages also recently issued reports on QSR. Wells Fargo & Company began coverage on Restaurant Brands International in a research report on Monday, January 23rd. They set an equal weight rating and a $70.00 price objective for the company. Evercore ISI raised their price objective on Restaurant Brands International from $75.00 to $80.00 in a research report on Wednesday. Citigroup lowered their price objective on Restaurant Brands International from $72.00 to $70.00 and set a neutral rating for the company in a research report on Wednesday, February 15th. StockNews.com downgraded Restaurant Brands International from a buy rating to a hold rating in a research report on Wednesday, March 29th. Finally, Robert W. Baird raised their price objective on Restaurant Brands International from $66.00 to $74.00 in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Restaurant Brands International has a consensus rating of Hold and an average target price of $72.13.

Restaurant Brands International Stock Performance

Shares of QSR stock opened at $71.77 on Wednesday. The business’s 50-day moving average price is $65.57 and its 200-day moving average price is $64.88. Restaurant Brands International has a 12 month low of $46.68 and a 12 month high of $73.24. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.60 and a beta of 0.98. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.08.

Restaurant Brands International (NYSE:QSR – Get Rating) (TSE:QSR) last announced its quarterly earnings results on Tuesday, May 2nd. The restaurant operator reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Restaurant Brands International had a return on equity of 35.36% and a net margin of 15.50%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Restaurant Brands International will post 3 EPS for the current year.

Restaurant Brands International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Wednesday, June 21st. This represents a $2.20 annualized dividend and a dividend yield of 3.07%. Restaurant Brands International’s payout ratio is 67.48%.

Insider Activity at Restaurant Brands International

In related news, CEO Jose E. Cil sold 264,461 shares of Restaurant Brands International stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $65.64, for a total transaction of $17,359,220.04. Following the transaction, the chief executive officer now owns 187,414 shares of the company’s stock, valued at $12,301,854.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MML Investors Services LLC boosted its position in Restaurant Brands International by 11.1% in the third quarter. MML Investors Services LLC now owns 6,194 shares of the restaurant operator’s stock worth $329,000 after purchasing an additional 618 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Restaurant Brands International in the fourth quarter worth $355,000. Clear Street Markets LLC boosted its position in Restaurant Brands International by 75.0% in the third quarter. Clear Street Markets LLC now owns 1,400 shares of the restaurant operator’s stock worth $74,000 after purchasing an additional 600 shares during the last quarter. Creative Planning boosted its position in Restaurant Brands International by 3.3% in the third quarter. Creative Planning now owns 47,069 shares of the restaurant operator’s stock worth $2,503,000 after purchasing an additional 1,505 shares during the last quarter. Finally, Oliver Luxxe Assets LLC boosted its position in Restaurant Brands International by 1.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 76,224 shares of the restaurant operator’s stock worth $4,929,000 after purchasing an additional 1,109 shares during the last quarter. Hedge funds and other institutional investors own 77.87% of the company’s stock.

Restaurant Brands International Company Profile

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Restaurant Brands International, Inc is a holding company, which engages in the operation of quick service restaurants. It operates through the following segments: Tim Hortons, Burger King, and Popeyes. The Tim Hortons segment provides donut, coffee, and tea restaurant services. The Burger King segment manages fast food hamburger restaurant.