Restaurant Brands International Inc (QSR) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.22. The company posted revenue of $918.50 million in the period, compared to analysts expectations of $928.25 million. The company’s revenue was down -1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
Many Wall Street Analysts have commented on Restaurant Brands International Inc. Company shares were Reiterated by Piper Jaffray on Apr 14, 2016 to “Overweight”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .Company shares were Upgraded by RBC Capital Mkts on Apr 11, 2016 to ” Outperform”, Firm has raised the Price Target to $ 48 from a previous price target of $38 .Restaurant Brands International Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Apr 8, 2016.
Restaurant Brands International Inc opened for trading at $41.27 and hit $42.43 on the upside on Wednesday, eventually ending the session at $42.41, with a gain of 1.87% or 0.78 points. The heightened volatility saw the trading volume jump to 15,86,190 shares. Company has a market cap of $9,825 M.
In a different news, on Feb 22, 2016, Damme Alexandre Van (director) purchased 78,125 shares at $32.74 per share price. According to the SEC, on Dec 18, 2015, V Milroy Thomas (director) purchased 10,000 shares at $36.52 per share price. On Dec 15, 2015, Carlos Alberto Sicupira (director) purchased 583,090 shares at $34.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Restaurant Brands International Inc is the parent company for Tim Hortons Inc. and Burger King Worldwide Inc. The Company operates more than 18000 restaurants operating in 100 countries under its two distinct brands. Tim Hortons operates restaurant chains in North America and Canada. Operating in the quick service segment of the restaurant industry Tim Hortons menu includes premium coffee hot and cold specialty drinks (including lattes cappuccinos and espresso shots) specialty teas and fruit smoothies fresh baked goods grilled Panini and classic sandwiches wraps soups prepared foods and other food products. As of September 28 2014 Tim Hortons had 4590 system wide restaurants including 3665 in Canada 869 in the United States and 56 in the Gulf Cooperation Council. BURGER KING is a fast food hamburger chain. The BURGER KING system operates in approximately 14000 locations serving more than 11 million guests daily in 100 countries and territories globally.