Brokerages expect Wingstop Inc. (NASDAQ:WING) to announce sales of $75.33 million for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Wingstop's earnings, with the highest sales estimate coming in at $76.14 million and the lowest estimate coming in at $73.30 million. Wingstop reported sales of $63.99 million during the same quarter last year, which indicates a positive year over year growth rate of 17.7%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, November 3rd.
According to Zacks, analysts expect that Wingstop will report full-year sales of $302.93 million for the current financial year, with estimates ranging from $293.30 million to $345.50 million. For the next financial year, analysts expect that the firm will report sales of $358.92 million, with estimates ranging from $343.91 million to $396.60 million. Zacks' sales averages are a mean average based on a survey of sell-side research firms that cover Wingstop.
Wingstop (NASDAQ:WING) last announced its quarterly earnings data on Wednesday, July 28th. The restaurant operator reported $0.38 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.33 by $0.05. The business had revenue of $74.00 million for the quarter, compared to analysts' expectations of $73.38 million. Wingstop had a net margin of 10.35% and a negative return on equity of 13.51%.
A number of brokerages have weighed in on WING. Cowen upped their price objective on shares of Wingstop from $180.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 29th. Wedbush increased their price target on shares of Wingstop from $180.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, September 13th. Loop Capital started coverage on shares of Wingstop in a report on Tuesday, October 5th. They set a "hold" rating and a $165.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Wingstop in a report on Tuesday, September 28th. They set a "hold" rating and a $178.00 price target on the stock. Finally, Zacks Investment Research cut shares of Wingstop from a "buy" rating to a "hold" rating in a report on Friday, July 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Wingstop presently has an average rating of "Buy" and a consensus target price of $179.72.
Shares of WING opened at $168.62 on Thursday. The stock has a market cap of $5.02 billion, a PE ratio of 177.49, a price-to-earnings-growth ratio of 11.23 and a beta of 1.33. Wingstop has a fifty-two week low of $112.47 and a fifty-two week high of $187.35. The firm's 50-day simple moving average is $172.14 and its two-hundred day simple moving average is $156.60.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 13th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This is an increase from Wingstop's previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 0.40%. Wingstop's dividend payout ratio (DPR) is presently 62.39%.
In other news, COO Mahesh Sadarangani sold 849 shares of the firm's stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $171.54, for a total transaction of $145,637.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles R. Morrison sold 21,139 shares of the firm's stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $161.20, for a total transaction of $3,407,606.80. Following the sale, the chief executive officer now owns 130,102 shares in the company, valued at $20,972,442.40. The disclosure for this sale can be found here. Insiders sold 84,171 shares of company stock worth $14,120,700 over the last quarter. Insiders own 0.61% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fred Alger Management LLC grew its stake in Wingstop by 0.8% during the first quarter. Fred Alger Management LLC now owns 1,755,989 shares of the restaurant operator's stock valued at $223,309,000 after acquiring an additional 14,362 shares in the last quarter. Federated Hermes Inc. grew its stake in Wingstop by 1.4% during the second quarter. Federated Hermes Inc. now owns 1,394,872 shares of the restaurant operator's stock valued at $219,874,000 after acquiring an additional 19,738 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Wingstop by 8,152.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,230,083 shares of the restaurant operator's stock valued at $193,898,000 after acquiring an additional 1,215,178 shares in the last quarter. State Street Corp grew its stake in Wingstop by 1.0% during the second quarter. State Street Corp now owns 891,469 shares of the restaurant operator's stock valued at $140,522,000 after acquiring an additional 8,588 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Wingstop by 44.3% during the first quarter. Ameriprise Financial Inc. now owns 887,180 shares of the restaurant operator's stock valued at $112,823,000 after acquiring an additional 272,197 shares in the last quarter.
Wingstop, Inc is a franchisor and operator of restaurants, which engages in the provision of cooked-to-order, hand-sauced, and tossed chicken wings. It operates through Franchise and Company segments. The Franchise segment consists of domestic and international franchise restaurants. The Company segment comprises company-owned restaurants.
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