A deal would be a bet by Oakville, Ontario-based Restaurant Brands that it can use its global reach to introduce Atlanta, Ga. -based Popeyes' famous Louisiana-style fried chicken and buttermilk biscuits to more diners globally. The company's 50-day moving average price is $48.90 and its 200 day moving average price is $46.74. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. He rates the stock at overweight with a 52 price target. Finally, Credit Suisse Group reissued a "neutral" rating and set a $45.00 price objective on shares of Restaurant Brands International in a report on Friday, November 11th. Restaurant Brands International now has a consensus rating of "Hold" and a consensus price target of $46.55.
Schwartz is the latest head of a major Canadian company to offer insight on how they view Trump's election, with many seeing his expected policies as positive for their bottom lines. Keybank National Association OH increased its position in shares of Restaurant Brands International by 15.7% in the fourth quarter. The Toronto-listed shares also rose as much as 2.8 percent to $69.10 to hit a record high. Commerzbank Aktiengesellschaft FI increased its position in shares of Restaurant Brands International by 21.4% in the fourth quarter. Institutional investors and hedge funds own 72.78% of the company's stock.
The company opened 85 Tim Hortons locations in Canada, 26 in the USA and 11 internationally.
Restaurant Brands International Inc. says its net income for the 12 months ended December 31 was $345.6 million USA, or $1.45 per share, including $118.4 million or 50 cents per share in the fourth quarter. The Company operates approximately 19,000 restaurants in over 100 countries and the United States territories.
"We accelerated our net restaurant growth on the Tim Hortons side and on the Burger King side".
Burger King attributed comparable sales growth to strength in its Asia Pacific and Latin America and Caribbean segments, while Tim Hortons highlighted "notable growth in the U.S." and said increases in breakfast, lunch and dinner sales drove comp growth for the year.