Bank of America Issues Pessimistic Forecast for Restaurant Brands International (NYSE:QSR) Stock Price

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR had its target price cut by investment analysts at Bank of America from $62.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "underperform" rating on the restaurant operator's stock. Bank of America's price target suggests a potential downside of 13.78% from the company's previous close.

Other analysts also recently issued reports about the company. Robert W. Baird decreased their target price on Restaurant Brands International from $72.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Loop Capital reiterated a "buy" rating on shares of Restaurant Brands International in a research report on Thursday, June 26th. Scotiabank upgraded Restaurant Brands International to a "hold" rating and set a $75.00 target price for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. decreased their target price on Restaurant Brands International from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Finally, Oppenheimer lifted their price objective on Restaurant Brands International from $77.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $75.65.

Restaurant Brands International Price Performance

Shares of QSR stock traded up $0.02 on Friday, reaching $69.59. The company's stock had a trading volume of 166,733 shares, compared to its average volume of 2,105,992. The stock's fifty day simple moving average is $68.56 and its 200-day simple moving average is $65.75. Restaurant Brands International has a 1 year low of $58.71 and a 1 year high of $74.79. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $22.81 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.17 billion. Restaurant Brands International had a return on equity of 28.94% and a net margin of 10.82%. The firm's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 earnings per share. Analysts forecast that Restaurant Brands International will post 3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Restaurant Brands International news, insider Jacqueline Friesner sold 70,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $70.08, for a total value of $4,905,600.00. Following the sale, the insider owned 182,897 shares in the company, valued at approximately $12,817,421.76. This represents a 27.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.36% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Restaurant Brands International during the 4th quarter valued at about $264,813,000. Davis Selected Advisers purchased a new position in Restaurant Brands International during the 1st quarter valued at about $224,744,000. Meritage Group LP boosted its holdings in Restaurant Brands International by 5,795.9% during the 4th quarter. Meritage Group LP now owns 3,301,689 shares of the restaurant operator's stock valued at $215,204,000 after acquiring an additional 3,245,689 shares during the period. Royal Bank of Canada boosted its holdings in Restaurant Brands International by 16.7% during the 1st quarter. Royal Bank of Canada now owns 22,626,635 shares of the restaurant operator's stock valued at $1,507,839,000 after acquiring an additional 3,230,735 shares during the period. Finally, Baupost Group LLC MA boosted its holdings in Restaurant Brands International by 10,155.5% during the 4th quarter. Baupost Group LLC MA now owns 2,901,700 shares of the restaurant operator's stock valued at $189,133,000 after acquiring an additional 2,873,406 shares during the period. Hedge funds and other institutional investors own 82.29% of the company's stock.

Restaurant Brands International Company Profile

Restaurant Brands International Inc operates as a quick-service restaurant company in Canada, the United States, and internationally. It operates through four segments: Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), and Firehouse Subs (FHS). The company owns and franchises TH chain of donut/coffee/tea restaurants that offer blend coffee, tea, and espresso-based hot and cold specialty drinks; and fresh baked goods, including donuts, Timbits, bagels, muffins, cookies and pastries, grilled paninis, classic sandwiches, wraps, soups, and other food products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.