The emergence of McDonald’s from a prolonged sales slump in recent months, thanks in large part to last year’s introduction of all-day breakfast, has increased pressure on Restaurant Brands to keep Burger King’s prices low. Following the completion of the transaction, the director now owns 121,513 shares of the company’s stock, valued at approximately $5,227,489.26. Marshall Wace LLP raised its position in shares of Restaurant Brands International by 1,782.0% in the fourth quarter.
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The average volume stands at 1021.23 for Restaurant Brands International Inc. The company reported a profit of $247.6 million, or 38 cents a share, up from $93.8 million, or 5 cents a share, in the year-ago period.
Stock Price: Shares did not show any significant movement in pre-market trading. They noted that the move was a valuation call. Finally, Piper Jaffray Cos. upped their target price on Restaurant Brands International from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, April 14th. The current P/C value outlines the company’s ability to generate cash relative to its stock price rather than what it records on earnings relative to its stock price.
Shares of Restaurant Brands International (NYSE:QSR) traded up 0.76% on Friday, reaching $46.66. The simple 20 day moving average stands at 6.79% and the simple 200-day moving average is at 18.92%.
During the second quarter, the number of Tim Hortons locations increased about three per cent to 4,464 stores, while Burger King restaurants jumped about four per cent to 15,100 locations during the second quarter. “Burger King’s results were particularly weak in the U.S. and Canada, where sales fell 0.8 per cent, missing analysts” prediction of a 1.1 per cent gain.
The recent Asian expansion efforts come even as global comparable sales growth shrunk by 3.3 per cent. The company said the Islamic holiday of Ramadan, which requires fasting and fell earlier this year, was the primary factor for the decline.
Restaurant Brands International Inc is a quick service restaurant (QSR) company. On average, analysts predict that Restaurant Brands International will post $1.44 EPS for the current fiscal year.
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“We ended the second quarter with solid system-wide sales growth at both of our iconic brands, Tim Hortons and Burger King, driven by growth in our global restaurant footprint and compelling product launches”, RBI CEO Daniel Schwartz said in a news release. The company said currency translations weighed on sales in the second quarter, knocking 4.2% off Tim Horton’s revenue and 2% off Burger King’s sales. RBI was formed in December of 2014 by a merger of United States fast-food chain Burger King and Tim Hortons.
