“However, we’re experiencing unexpected headwinds, making the second half of the year more challenging than we anticipated”, Yum Brands chief executive Greg Creed said in a statement.
Advertisement
– Wholesale gasoline fell 4.6 cents to close at $1.390 a gallon. The 50-day moving average for the company is $80.47, while the 200-day moving average for the company is now at $85.67.
In related news, SVP Jonathan David Blum sold 1,689 shares of the stock in a transaction on Tuesday, September 1st.
A number of research firms have recently commented on YUM.
Analysts were looking for earnings of $1.07 per share on $3.68 billion in sales, so the company missed both earnings and sales estimates. Stated EPS was $0.95.
YUM! Brands, Inc. (NYSE:YUM) is engaged in restaurant company. The new entity, Sapphire Foods, will now operate 300 restaurants. Same store sales in the China Division only edged upward 2% even though the fast food chain operator had a very easy comparison as last year’s third quarter marked a 14% decline in sales and 2013’s third quarter saw a 25% decline in same store sales.
KEEPING SCORE: Japan’s Nikkei 225 gained 0.8 percent to 18,322.98 and South Korea’s Kospi gained 0.8 percent at 2,005.84. This corresponds to an increase of $0.34 compared to the same quarter of the previous fiscal year. Operating profit was even. They believe Yum should divest all of its brands except KFC and Pizza Hut. The Standard & Poor’s 500 lost 7.13 points, or 0.4 percent, to 1,979.92. Operating profit raised 6%. Analysts had expected 9% same-restaurant sales growth in that country.
The third calendar quarter was unsavory across the board. We’re happy same-store sales turned positive and we achieved restaurant margins of almost 20% in our China business.
Yum operates 426 Pizza Hut stores, 378 KFC outlets and seven Taco Bell restaurants in India. If the company meets analyst expectations, the company’s EPS growth on the year would be 23% while revenue would have increased by 10%.
Beyond the China market, which admittedly remains the most critical aspect of Yum!
On Wednesday the company shocked investors by cutting its growth forecasts on weakness in China, its top driver for profit and revenue. The year-over-year upside reflects comps growth in the domestic market driven by strong breakfast sales.
Yum! Brands (NYSE:YUM) last posted its quarterly earnings results on Tuesday, October 6th.
For the quarter ended September 5, the company said it earned $421 million, or 95 cents per share.
Software (Xetra: 330400 – news) company Adobe fell 5.3 percent after projecting 2016 earnings of $2.70 per share, well below the $3.19 expected by analysts. Analysts have a mean recommendation of 2.40 on this stock (where 1=Buy and 5=Sell).
Advertisement
The stock is now trading down 0.55% at $67.35 as of 10:32 AM EDT. In the past six months, there is a change of -0.75% in the total insider ownership. The institutional investors are observed to own 79.60% of the total shares. The worldwide Monetary Fund expects Chinese economic growth to drop to a 25-year low of 6.8 percent this year, unchanged from its July forecast. Brands Inc (YUM) has a dividend yield of 1.97%. Brands, Inc. (NYSE:YUM) can focus on KFC and Pizza Hut. The Content included in this article is just for informational purposes only.
