Wingstop Inc Forecasted to Post FY2018 Earnings of $0.86 Per Share (WING)
Wingstop Inc (NASDAQ:WING) – SunTrust Banks decreased their FY2018 EPS estimates for shares of Wingstop in a research note issued to investors on Wednesday, November 14th. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will post earnings per share of $0.86 for the year, down from their previous estimate of $0.87. SunTrust Banks currently has a “Buy” rating and a $72.00 price target on the stock. SunTrust Banks also issued estimates for Wingstop’s Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.21 EPS and FY2019 earnings at $0.89 EPS.
A number of other brokerages have also issued reports on WING. Morgan Stanley lowered Wingstop from an “overweight” rating to an “equal weight” rating and set a $69.00 target price on the stock. in a research report on Thursday, October 18th. They noted that the move was a valuation call. Gordon Haskett began coverage on Wingstop in a research report on Thursday, October 18th. They set a “buy” rating and a $81.00 target price on the stock. Wedbush lowered Wingstop from an “outperform” rating to a “neutral” rating and set a $74.00 target price on the stock. in a research report on Monday, October 22nd. They noted that the move was a valuation call. Barclays increased their target price on Wingstop from $52.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 9th. Finally, Stifel Nicolaus lowered Wingstop from a “buy” rating to a “hold” rating and decreased their target price for the company from $80.00 to $75.00 in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $64.13.
Wingstop (NASDAQ:WING) last announced its earnings results on Monday, October 29th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Wingstop had a negative return on equity of 21.61% and a net margin of 21.14%. The firm had revenue of $38.25 million for the quarter, compared to analyst estimates of $38.02 million. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue was up 15.5% on a year-over-year basis.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Wingstop by 2.9% during the 3rd quarter. BlackRock Inc. now owns 4,143,057 shares of the restaurant operator’s stock worth $282,846,000 after purchasing an additional 115,194 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Wingstop by 41.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 831,434 shares of the restaurant operator’s stock worth $56,761,000 after purchasing an additional 241,596 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wingstop by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 808,449 shares of the restaurant operator’s stock worth $42,137,000 after purchasing an additional 31,981 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Wingstop by 830.3% during the 3rd quarter. Alliancebernstein L.P. now owns 795,240 shares of the restaurant operator’s stock worth $54,291,000 after purchasing an additional 709,760 shares during the last quarter. Finally, Carillon Tower Advisers Inc. increased its position in shares of Wingstop by 38.5% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 712,878 shares of the restaurant operator’s stock worth $48,668,000 after purchasing an additional 198,092 shares during the last quarter.
In related news, insider Stacy Peterson sold 3,437 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $66.05, for a total transaction of $227,013.85. Following the completion of the sale, the insider now directly owns 38,339 shares of the company’s stock, valued at approximately $2,532,290.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Hislop sold 5,900 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $69.11, for a total value of $407,749.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, December 3rd. This represents a $0.36 annualized dividend and a dividend yield of 0.54%. Wingstop’s dividend payout ratio is presently 48.65%.
Wingstop Company Profile
Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia.
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