Q2 2024 Earnings Forecast for Wingstop Inc. Issued By Wedbush (NASDAQ:WING)

Wingstop Inc. (NASDAQ:WING) – Stock analysts at Wedbush increased their Q2 2024 earnings per share estimates for shares of Wingstop in a report issued on Thursday, May 2nd. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $0.74 for the quarter, up from their prior estimate of $0.72. Wedbush currently has a “Outperform” rating and a $425.00 price target on the stock. The consensus estimate for Wingstop’s current full-year earnings is $3.15 per share. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.84 EPS, FY2024 earnings at $3.35 EPS and Q3 2025 earnings at $1.05 EPS.

Several other analysts also recently weighed in on the stock. Truist Financial lifted their price target on shares of Wingstop from $320.00 to $345.00 and gave the company a “hold” rating in a research note on Thursday. TD Cowen reiterated a “buy” rating and issued a $410.00 target price on shares of Wingstop in a report on Wednesday. Jefferies Financial Group increased their price target on Wingstop from $310.00 to $335.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Robert W. Baird lifted their price objective on Wingstop from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Stephens reaffirmed an “overweight” rating and issued a $425.00 price objective on shares of Wingstop in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $330.39.

Wingstop Price Performance

Wingstop stock opened at $388.55 on Friday. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 138.27, a price-to-earnings-growth ratio of 6.30 and a beta of 1.67. The firm has a 50-day moving average of $360.49 and a two-hundred day moving average of $288.72. Wingstop has a 1 year low of $150.08 and a 1 year high of $396.00.

Wingstop (NASDAQ:WING) last issued its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. The firm had revenue of $145.70 million during the quarter, compared to analyst estimates of $136.34 million. Wingstop had a net margin of 16.75% and a negative return on equity of 19.64%. The business’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share.

Wingstop Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, May 16th. Wingstop’s payout ratio is 31.32%.

Insider Activity

In related news, CEO Michael Skipworth sold 10,843 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at $5,771,901.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Michael Skipworth sold 10,843 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $337.40, for a total value of $3,658,428.20. Following the sale, the chief executive officer now owns 17,107 shares in the company, valued at $5,771,901.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kilandigalu Madati sold 1,472 shares of Wingstop stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total value of $500,288.64. Following the transaction, the director now owns 5,450 shares of the company’s stock, valued at $1,852,291.50. The disclosure for this sale can be found here. Insiders have sold 14,901 shares of company stock valued at $5,120,605 in the last ninety days. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Wingstop

Several large investors have recently made changes to their positions in the company. RIA Advisory Group LLC purchased a new position in Wingstop in the first quarter valued at $436,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Wingstop by 3.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,444 shares of the restaurant operator’s stock valued at $4,559,000 after acquiring an additional 430 shares during the period. Whittier Trust Co. increased its stake in shares of Wingstop by 4.0% in the 1st quarter. Whittier Trust Co. now owns 24,346 shares of the restaurant operator’s stock valued at $8,920,000 after purchasing an additional 936 shares in the last quarter. FORA Capital LLC acquired a new position in Wingstop in the 1st quarter worth about $4,188,000. Finally, Daiwa Securities Group Inc. boosted its position in Wingstop by 276.9% during the first quarter. Daiwa Securities Group Inc. now owns 980 shares of the restaurant operator’s stock worth $359,000 after purchasing an additional 720 shares in the last quarter.

About Wingstop

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.