Restaurant Brands International Inc. (QSR) Earns “Neutral” Rating from Bank of America Corporation

Bank of America Corporation restated their neutral rating on shares of Restaurant Brands International Inc. (NYSE:QSR) (TSE:QSR) in a report released on Monday. The firm currently has a $62.00 price objective on the restaurant operator’s stock.

Other equities research analysts have also recently issued reports about the company. UBS AG upgraded Restaurant Brands International from a market perform rating to an outperform rating in a report on Wednesday, June 14th. BidaskClub upgraded Restaurant Brands International from a hold rating to a buy rating in a report on Wednesday, June 21st. Scotiabank upped their target price on Restaurant Brands International from $63.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, August 3rd. CIBC upgraded Restaurant Brands International from a market perform rating to an outperform rating and set a $70.00 target price for the company in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Restaurant Brands International from a hold rating to a buy rating and set a $67.00 target price for the company in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $63.63.

Restaurant Brands International (NYSE QSR) opened at 59.83 on Monday. The company has a market cap of $14.14 billion, a P/E ratio of 41.87 and a beta of 1.77. The firm has a 50-day moving average price of $61.03 and a 200-day moving average price of $57.76. 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 issued its earnings results on Wednesday, August 2nd. The restaurant operator reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Restaurant Brands International had a return on equity of 22.71% and a net margin of 12.66%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Restaurant Brands International will post $1.89 earnings per share for the current fiscal year.

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Restaurant Brands International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 15th will be given a dividend of $0.20 per share. This is a positive change from Restaurant Brands International’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, September 14th. Restaurant Brands International’s dividend payout ratio is currently 52.78%.

In related news, EVP Jose E. Cil sold 1,760 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $59.75, for a total transaction of $105,160.00. Following the transaction, the executive vice president now directly owns 22,855 shares of the company’s stock, valued at approximately $1,365,586.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jose E. Cil sold 142,700 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $59.05, for a total value of $8,426,435.00. Following the transaction, the executive vice president now directly owns 21,684 shares in the company, valued at $1,280,440.20. 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 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of Restaurant Brands International by 21.9% in the first quarter. IFP Advisors Inc now owns 1,817 shares of the restaurant operator’s stock valued at $101,000 after buying an additional 327 shares in the last quarter. Westpac Banking Corp raised its position in shares of Restaurant Brands International by 1,037.1% in the first quarter. Westpac Banking Corp now owns 1,933 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 1,763 shares in the last quarter. Creative Planning raised its position in shares of Restaurant Brands International by 5.4% in the first quarter. Creative Planning now owns 2,101 shares of the restaurant operator’s stock valued at $117,000 after buying an additional 108 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Restaurant Brands International by 10.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 200 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Restaurant Brands International by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,228 shares of the restaurant operator’s stock valued at $179,000 after buying an additional 306 shares in the last quarter. 75.79% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Restaurant Brands International (NYSE:QSR)

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