RBC Capital Remains Bullish on Restaurant Brands (QSR) Following 2Q Beat and Raise
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
RBC Capital reiterated an Outperform rating and $49.00 price target on Restaurant Brands International (NYSE: QSR) following the company's 2Q earnings report. QSR reported on EPS beat of $0.41 vs. consensus estimates of $0.35. Management raised 2016 and 2017 EPS estimates from $1.42 and $1.65 to $1.49 and $1.71, respectively, to account for the beat.
Analyst David Palmer commented, "We are raising EPS estimates following the company's 2Q EPS beat and ongoing cost control, partially offset by lower sales growth. While the lion's share of G&A savings may be in the past, we believe supplychain efficiencies and debt refinancing provide sources of EPS upside in the near future."
Shares of Restaurant Brands International closed at $46.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Remains Sidelined on Crane Co. (CR) Following Earnings Call
- AK Steel (AKS) PT, Estimates Raised at Jefferies
- RBC Capital Cuts Price Target on Pentair (PNR) to $66 Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!