These Analysts Slash Their Forecasts On Wingstop After Q3 Results

Wingstop WING reported mixed third-quarter financial results on Wednesday.

The company reported third-quarter earnings per share of 88 cents, missing the street view of 95 cents. Quarterly sales of $162.498 million beat the analyst consensus estimate of $161.535 million.

The companydeclared a quarterly dividend of $0.27 per share of common stock, resulting in a total dividend of approximately $7.9 million. This dividend will be paid on December 6

The company reaffirmed approximately 20% domestic same-store sales growth for FY24 and updated guidance to 320 – 330 global net new units (previously 285 – 300), $22.5 million in stock-based compensation (up from $20 million), $117.5-$118.5 million in SG&A (previously $114-$116 million), and $19 million in depreciation and amortization (previously $18-$19 million).

Wingstop shares gained 0.5% to trade at $291.38 on Thursday.

These analysts made changes to their price targets on Wingstop following earnings announcement.

• TD Cowen analyst Andrew Charles maintained Wingstop with a Buy and lowered the price target from $450 to $365.
• Stephens & Co. analyst Jim Salera maintained the stock with an Overweight and lowered the price target from $490 to $468.
• Barclays analyst Jeffrey Bernstein maintained Wingstop with an Overweight and cut the price target from $470 to $380.

Considering buying WING stock? Here’s what analysts think:

Read More:

• Jim Cramer: This Financial Stock Is ‘One Of The Most Consistent, Great Companies’