Brokerages expect that Wingstop Inc (NASDAQ:WING) will report sales of $49.25 million for the current quarter, according to Zacks. Eight analysts have provided estimates for Wingstop’s earnings, with the lowest sales estimate coming in at $47.80 million and the highest estimate coming in at $50.10 million. Wingstop posted sales of $38.25 million in the same quarter last year, which suggests a positive year-over-year growth rate of 28.8%. The business is expected to report its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Wingstop will report full-year sales of $197.85 million for the current year, with estimates ranging from $194.82 million to $201.02 million. For the next financial year, analysts forecast that the business will post sales of $221.68 million, with estimates ranging from $217.47 million to $225.89 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Wingstop.
Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Thursday, August 1st. The restaurant operator reported $0.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $48.56 million for the quarter, compared to analyst estimates of $47.53 million. Wingstop had a negative return on equity of 11.09% and a net margin of 11.54%. The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 EPS.
WING has been the subject of several research reports. Piper Jaffray Companies lifted their price objective on Wingstop from $88.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley lifted their price objective on Wingstop from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and set a $108.00 price objective (up from $84.00) on shares of Wingstop in a research report on Monday, June 24th. Stifel Nicolaus lifted their price objective on Wingstop from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research downgraded Wingstop from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $89.93.
Shares of NASDAQ:WING traded up $2.08 during trading on Wednesday, hitting $101.77. 362,141 shares of the stock were exchanged, compared to its average volume of 498,163. The company has a fifty day moving average price of $96.18 and a two-hundred day moving average price of $81.43. The company has a market cap of $2.91 billion, a PE ratio of 121.15, a P/E/G ratio of 6.94 and a beta of 0.84. Wingstop has a 12-month low of $56.95 and a 12-month high of $102.43.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.11 dividend. The ex-dividend date is Thursday, August 29th. This is an increase from Wingstop’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 0.43%. Wingstop’s payout ratio is 42.86%.
In other Wingstop news, insider Lawrence Kruguer sold 1,466 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $79.72, for a total value of $116,869.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Hislop sold 5,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $89.05, for a total value of $445,250.00. The disclosure for this sale can be found here. Insiders sold a total of 11,846 shares of company stock valued at $1,060,821 over the last quarter. 1.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Wingstop by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,247,301 shares of the restaurant operator’s stock worth $402,431,000 after buying an additional 68,645 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Wingstop by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,389,552 shares of the restaurant operator’s stock worth $321,159,000 after buying an additional 204,867 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wingstop by 10.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,179,100 shares of the restaurant operator’s stock worth $111,720,000 after buying an additional 113,200 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Wingstop by 375.0% during the 2nd quarter. Invesco Ltd. now owns 1,165,972 shares of the restaurant operator’s stock worth $110,476,000 after buying an additional 920,513 shares during the last quarter. Finally, Federated Investors Inc. PA increased its holdings in shares of Wingstop by 2.0% during the 1st quarter. Federated Investors Inc. PA now owns 886,164 shares of the restaurant operator’s stock worth $67,375,000 after buying an additional 17,076 shares during the last quarter.
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 December 29, 2018, the company operated approximately 1,252 restaurants in the United States, Mexico, Panama, Singapore, Indonesia, the United Arab Emirates, the United Kingdom, Malaysia, Saudi Arabia, and Colombia.
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