Argus Downgrades Restaurant Brands International (QSR) to Hold

Argus analyst John Staszak downgraded Restaurant Brands International (NYSE: QSR) from Buy to Hold.

• We expect the company to face continued cost pressures, as well as a labor shortage, over the next 12 months.
• We currently project increases of 5%-6% in food and labor costs, with inflation potentially reaching the high single digits.
• Due to the labor shortage, Restaurant Brands has had to reduce hours and limit service at many of its restaurants.
• We are lowering our 2021 EPS estimate to $2.80 from $2.86 and our 2022 estimate to $3.15 from $3.18.

For an analyst ratings summary and ratings history on Restaurant Brands International click here. For more ratings news on Restaurant Brands International click here.

Shares of Restaurant Brands International closed at $57.63 yesterday.

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