Finance

Burger King Parent Restaurant Brands Beats Q4 Forecasts

Burger King Parent Restaurant Brands Beats Q4 Forecasts”

Today, Cowen and Company raised its price target on Restaurant Brands International (NYSE:QSR) to per share.

The company's net profit attributable to shareholders more than doubled to $118.4 million, or 50 cents per share, from a year ago, when it took a $37 million charge for the merger of Burger King and Tim Hortons.

The Oakville, Ontario-based company's total revenue rose about five per cent to $1.11 billion and was almost in line with estimates. The company reported $0.44 EPS for the quarter, topping the Zacks' consensus estimate of $0.42 by $0.02. Comparable sales are considered a key indicator of a retailer's health, since they measure only the performance of stores open at least 12 months.

More news: US Judge Strikes Down Tribe Request to Stop Dakota Access Pipeline Construction

Burger King attributed comparable sales growth to strength in its Asia Pacific and Latin America and Caribbean segments, while Tim Hortons highlighted "notable growth in the U.S." and said increases in breakfast, lunch and dinner sales drove comp growth for the year. "We are excited about our progress this year and are committed to building on these results to achieve long-term sustainable growth".

"I think investors will be sort of surprised and dismayed by the shift around", Dennis Mitchell, senior vice president and senior portfolio manager of Sprott Asset Management, told BNN Monday when discussing Restaurant Brand International's same-store sales. Year-to-date, QSR has gained 7.89%, versus a 3.57% rise in the benchmark S&P 500 index during the same period. During the same quarter in the prior year, the firm posted $0.32 EPS. Revenue for the fourth quarter was US$1.11 billion. The company has a market cap of $12.60 billion, a PE ratio of 44.80 and a beta of 1.75.

RBI is one of the largest quick service restaurant business in the world with over $24 billion in sales system wide and more than 20,000 restaurants in over 100 countries and territories. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.18 per share. The company's quarterly revenue was up 5.1% compared to the same quarter past year.

More news: Flight delays: storm strands thousands of airline passengers

Brief Synopsis On Restaurant Brands International Inc. The business has worked on expanding the footprint of Tim Hortons in both the United States as well as internationally. Restaurant Brands International Inc.is based in Canada. RBC Capital Markets increased their target price on shares of Restaurant Brands International from $49.00 to $54.00 and gave the stock an "outperform" rating in a report on Tuesday, October 25th.

In my opinion, Restaurant Brands International is a great option for investors looking for long-term growth.

That being said, strong returns, an aggressive and, to date, successful expansion plan, and an increasing dividend all make Restaurant Brands a likely candidate for nearly any portfolio.

More news: Clinton, other Democrats rally around silenced US Senator Warren



Like this

Latest


14 February 2017
Trump's trash talk on judges makes trouble for Gorsuch
Furthermore, he stated that he had "no doubt that if confirmed , Judge Gorsuch would help restore confidence in the rule of law". Ben Sasse of Nebraska revealed even stronger comments by Gorsuch when they met.

14 February 2017
FDA approves muscular-dystrophy drug costing $89000 in the US
Clinical studies of the drug deflazacort showed improvement in muscle strength compare to those who took a placebo. This particular drug is meant to treat a disease that impacts about 12,000 boys each year in the United States.

13 February 2017
Classic Hot Wheels cars are coming to 'Rocket League'
The Rocket League Hot Wheels DLC features, erm, Hot Wheels cars in Rocket League . It's no surprise then, that some toy cars have now made their way into the game.

12 February 2017
Lin-Manuel Miranda Will Perform Moana Song at the Academy Awards
The 89th Academy Awards will take place on Sunday, February 26 at the Dolby Theatre in the Hollywood & Highland Centre. He could leave as the youngest artist ever to complete the EGOT by winning an Emmy, Grammy, Oscar and Tony award.

12 February 2017
Bali Landslides Kill at Least 12 After Heavy Rainfall
The idyllic tourist hotspot of Bali was partially submerged after five days of torrential rain triggered deadly landslides. The agency said more heavy rains are likely and people should be aware of the possibility of landslides and floods.

11 February 2017
Call of Duty's next release will go "back to its roots"
A general view of " Call Of Duty: Infinite Warfare " at Los Angeles Convention Center on June 15, 2016 in Los Angeles, California. So, what is Activision Blizzard to do in order to right the ship? They're a proven team that's passionate about this title.

11 February 2017
Russian Federation and Turkey offer conflicting reports on Turkish soldiers' death
The spokesperson noted that United States personnel are not working with Turkish counterparts near al-Bab at the moment. Russian warplanes bombed a Turkish army unit operating in Syria on Thursday morning, killing three Turkish soldiers.

10 February 2017
Blogger forced to pay 'substantial sum' to Melania Trump in defamation lawsuit
Trump had previously filed against blogger Webster Griffin Tarpley, who posted about the allegations, and Mail Media in Maryland. It remains to be seen how Melania will continue her career while husband Donald Trump is in the White House.

09 February 2017
Tesla P100D Breaks Acceleration Record
Once launch control is initiated and the throttle pedal is depressed, the P100D will be on its (very hurried) way. Back in January, the company surpassed that promise by pushing the auto to achieve 2.389 seconds of acceleration.

09 February 2017
After Trump Executive Order, Army Clears Way for Dakota Pipeline
Trump's reversal of that decision continues a historic pattern of broken promises to Indian Tribes and violation of Treaty rights. An assessment conducted past year determined the river crossing would not have a significant effect on the environment.



Recommended