KeyCorp Raises Restaurant Brands International (NYSE:QSR) Price Target to $77.00

Restaurant Brands International (NYSE:QSR) (TSE:QSR) had its price objective increased by KeyCorp from $65.00 to $77.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other research analysts have also recently weighed in on QSR. Morgan Stanley upped their price objective on Restaurant Brands International from $66.00 to $70.00 and gave the stock an equal weight rating in a research report on Monday. Northcoast Research assumed coverage on Restaurant Brands International in a report on Monday, April 19th. They set a neutral rating on the stock. Cowen upped their target price on Restaurant Brands International from $65.00 to $68.00 and gave the stock a market perform rating in a report on Monday. Royal Bank of Canada upped their target price on Restaurant Brands International from $68.00 to $73.00 and gave the stock an outperform rating in a report on Monday, May 3rd. Finally, Argus upgraded Restaurant Brands International from a hold rating to a buy rating and set a $80.00 price objective on the stock in a research note on Thursday, May 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $69.90.

QSR stock opened at $66.69 on Monday. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.65 and a quick ratio of 1.60. The stock has a market capitalization of $20.47 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.62 and a beta of 1.19. The business has a 50-day moving average of $67.03 and a 200-day moving average of $61.87. Restaurant Brands International has a fifty-two week low of $48.09 and a fifty-two week high of $71.12.

Restaurant Brands International (NYSE:QSR) (TSE:QSR) last posted its quarterly earnings data on Thursday, April 29th. The restaurant operator reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Restaurant Brands International had a return on equity of 26.67% and a net margin of 11.00%. Restaurant Brands International’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. Equities analysts expect that Restaurant Brands International will post 2.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 7th. Investors of record on Wednesday, June 23rd will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, June 22nd. Restaurant Brands International’s dividend payout ratio is currently 77.94%.

In related news, Director Daniel S. Schwartz sold 281,101 shares of the stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $68.40, for a total transaction of $19,227,308.40. Following the sale, the director now owns 1,617 shares of the company’s stock, valued at $110,602.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sami A. Siddiqui sold 8,882 shares of the stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $70.00, for a total value of $621,740.00. Following the sale, the insider now directly owns 175,722 shares in the company, valued at approximately $12,300,540. The disclosure for this sale can be found here. Insiders have sold 707,733 shares of company stock worth $45,575,826 in the last three months. 3.69% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of QSR. Beutel Goodman & Co Ltd. acquired a new stake in shares of Restaurant Brands International in the 4th quarter valued at $222,862,000. Norges Bank acquired a new stake in shares of Restaurant Brands International during the 4th quarter valued at $155,511,000. EdgePoint Investment Group Inc. boosted its holdings in shares of Restaurant Brands International by 14.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 12,395,006 shares of the restaurant operator’s stock valued at $804,067,000 after acquiring an additional 1,532,724 shares in the last quarter. Guardian Capital LP acquired a new stake in shares of Restaurant Brands International during the 4th quarter valued at $76,539,000. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Restaurant Brands International by 27.4% during the 4th quarter. Iridian Asset Management LLC CT now owns 2,284,406 shares of the restaurant operator’s stock valued at $139,600,000 after acquiring an additional 491,883 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Restaurant Brands International Company Profile

Restaurant Brands International Inc owns, operates, and franchises quick service restaurants under the Tim Hortons (TH), Burger King (BK), and Popeyes (PLK) brands. The company operates through three segments: TH, BK, and PLK. Its restaurants offer blend coffee, tea, espresso-based hot and cold specialty drinks, donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, hamburgers, chicken and other specialty sandwiches, french fries, soft drinks, chicken, chicken tenders, fried shrimp and other seafood, red beans and rice, and other food items.

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Analyst Recommendations for Restaurant Brands International (NYSE:QSR)

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