Citigroup Cuts Restaurant Brands International (NYSE:QSR) Price Target to $78.00

Key Points

• Citigroup lowered its price target on Restaurant Brands International (NYSE: QSR) from $84 to $78 while keeping a neutral rating, implying about 7.2% upside from the prior close.
• Analyst sentiment remains mixed but generally constructive: the stock currently has a consensus “Moderate Buy” rating with a consensus price target of $83.86, despite several firms making small target adjustments.
• RBI’s shares traded around $72.75 on Friday, and the company recently reported better-than-expected quarterly earnings and revenue, with EPS of $0.86 versus $0.83 expected and revenue up 7.3% year over year.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR had its price target cut by stock analysts at Citigroup from $84.00 to $78.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the restaurant operator's stock. Citigroup's target price indicates a potential upside of 7.22% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. TD Cowen lifted their price objective on Restaurant Brands International from $79.00 to $80.00 and gave the stock a "hold" rating in a research note on Thursday, July 9th. Morgan Stanley boosted their price objective on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. Scotiabank boosted their price objective on shares of Restaurant Brands International from $81.00 to $83.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Restaurant Brands International from $86.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Wells Fargo & Company upped their target price on shares of Restaurant Brands International from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.86.

Restaurant Brands International Stock Up 0.5%

Shares of Restaurant Brands International stock traded up $0.37 during trading on Friday, hitting $72.75. 759,628 shares of the stock traded hands, compared to its average volume of 3,339,386. The stock has a market cap of $25.41 billion, a P/E ratio of 25.61, a PEG ratio of 2.14 and a beta of 0.50. The company has a fifty day moving average price of $74.07 and a two-hundred day moving average price of $73.24. Restaurant Brands International has a twelve month low of $61.33 and a twelve month high of $81.96. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its earnings results on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The business's revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Restaurant Brands International will post 4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Restaurant Brands International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baupost Group LLC MA boosted its stake in shares of Restaurant Brands International by 103.8% in the 3rd quarter. Baupost Group LLC MA now owns 8,252,862 shares of the restaurant operator's stock worth $529,337,000 after buying an additional 4,203,300 shares during the last quarter. Platinum Paramount Investment LTD. bought a new position in Restaurant Brands International in the 4th quarter worth approximately $281,033,000. Norges Bank purchased a new position in shares of Restaurant Brands International in the fourth quarter valued at $260,709,000. Capital World Investors lifted its holdings in shares of Restaurant Brands International by 7.7% in the fourth quarter. Capital World Investors now owns 43,525,570 shares of the restaurant operator's stock worth $2,969,819,000 after buying an additional 3,095,167 shares in the last quarter. Finally, State Street Corp boosted its holdings in Restaurant Brands International by 9,477.4% in the 2nd quarter. State Street Corp now owns 2,997,344 shares of the restaurant operator's stock valued at $198,711,000 after purchasing an additional 2,966,048 shares during the period. Institutional investors own 82.29% of the company's stock.

About Restaurant Brands International

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.