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Restaurant Brands Intl (NYSE:QSR) Stock, Option Chain

Restaurant Brands Intl

Restaurant Brands International is one of the largest restaurant companies in the world, with approximately $43 billion in 2023 systemwide sales across a footprint that spanned more than 31,000 restaurants and more than 100 countries. The firm generates revenue primarily from retail sales at its company-owned restaurants, royalty fees and lease income from franchised stores, and from its Tim Hortons supply chain operations. Formed in 2014 after 3G Capital's acquisition of Tim Hortons International, the RBI portfolio is split among Burger King (7,144 units), Tim Hortons (4,525 units), Popeyes Louisiana Kitchen (3,394 units), Firehouse Subs (1,265 units), and international franchise units of those banners (14,742) as of year-end 2023.

Burger King

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TikTok post by Ohio woman shows weed buds in daughter&#39;s Burger King order. Video goes viral with over 150K views.

Large Fries And Side Of Weed? TikTok Post From Woman Who Got Cannabis In Her Burger King Order Goes Viral

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BofA analysts expect moderate growth in the restaurant industry in 2025, with certain shifts due to post-Covid behaviors. Starbucks and Sysco receive positive ratings, while Restaurant Brands and Krispy Kreme see downgrades.

Starbucks Shines, QSR Faces Challenges: BofA&#39;s 2025 Restaurant Outlook

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Barclays analyst Jeffrey A. Bernstein highlights key trends for U.S. restaurants in 2025, including mixed earnings results, easing inflation, and consumer outlook uncertainty. 

Easing Inflation Brings Hope To Restaurants In 2025 But Uncertainty Lingers: Analyst Upgrades Shake Shack And Dutch Bros

Restaurant Brands International Inc. Common Shares

Restaurant Brands International Inc

Morgan Stanley analyst John Glass maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Equal-Weight and lowers the price target from $81 to $73.

Price Target

Morgan Stanley Maintains Equal-Weight on Restaurant Brands Intl, Lowers Price Target to $73

A <a href="https://www.benzinga.com/topic/tiktok">TikTok </a>post from an Ohio woman showing several weed buds found in her daughter's Burger King order has gone viral. The user, JannaBama, says she bought her daughter&#8217;s chicken fries at a drive-thru Sunday night at the Burger King in Hamilton. Once home, she unpacked the food order and found what looked like enough weed buds for several joints.
"I went to Burger King tonight. I got my kid some chicken fries,&#8221; she began on the video. &#8220;Listen, I need you guys to listen." She then held up the small empty bag where the chicken fries were packed and turned around to show the inside. "If you look in there, you can see some residue."
 &#8220;She got her chicken fries,&#8221; JannaBama said moving her camera down to show several cannabis buds in a plate. &#8220;Chicken fries with a side of, do you see that? You can&#8217;t say that on here… (TikTok). Mary Jane, from Burger King in Hamilton, Ohio.&#8221;
<figure class="wp-block-embed is-type-video is-provider-tiktok wp-block-embed-tiktok"> 
<div class="wp-block-embed__wrapper">
<blockquote class="tiktok-embed" cite="https://www.tiktok.com/@jannamichelle6/video/7458899714814250286" data-video-id="7458899714814250286" data-embed-from="oembed" style="max-width:605px; min-width:325px;"> <section> <a target="_blank" title="@jannamichelle6" href="https://www.tiktok.com/@jannamichelle6?refer=embed">@jannamichelle6</a>
Cannot make this up &#x1f633; !!! I didn't ask for a side of this @Burger King. <a title="ohio" target="_blank" href="https://www.tiktok.com/tag/ohio?refer=embed">#ohio</a> <a title="sideorder" target="_blank" href="https://www.tiktok.com/tag/sideorder?refer=embed">#sideorder</a> <a title="tiktokmademebuyit" target="_blank" href="https://www.tiktok.com/tag/tiktokmademebuyit?refer=embed">#tiktokmademebuyit</a> 
 <a target="_blank" title="♬ original sound - JannaBama" href="https://www.tiktok.com/music/original-sound-7458899700805192490?refer=embed">♬ original sound &#8211; JannaBama</a> </section> </blockquote>
<script async src="https://www.tiktok.com/embed.js"></script></div>
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"Cannot make this up," said the post caption. "I didn't ask for a side of this."
As of mid-afternoon on Jan. 14, JannaBama's video has over 150,00 views with over 100,00 likes.
Read Also: <a href="https://www.benzinga.com/general/social-media/25/01/42965533/elon-musk-emerges-as-potential-tiktok-us-buyer-as-ban-deadline-looms-company-terms-it-pure-fiction">Elon Musk Emerges As Potential TikTok US Buyer As Ban Deadline Looms, Company Terms It &#8216;Pure Fiction&#8217;</a>
<h1 class="wp-block-heading">Authorities Respond</h1>
&#8220;We contacted the Franchisee of this restaurant immediately upon learning of this incident and can confirm that the employee in question has been terminated,&#8221; a Burger King spokesperson told local media outlets.&nbsp;&#8220;We were very disappointed to learn of the incident and do not take incidents that put our guests in danger lightly.&#8221;
Hamilton police Sgt. Brian Ungerbuehler <a href="https://www.cincinnati.com/story/news/2025/01/14/burger-king-worker-fired-after-woman-finds-marijuana-with-childs-food/77694524007/">told</a> Cincinnati.com in an email that while no formal reports were made to the department, its officers are "actively investigating," the incident, adding that more information will be released once it becomes available.
<h1 class="wp-block-heading">TikTok&#8217;s Woes Are Far Worse Than Burger King&#8217;s</h1>
TikTok, which boasts over 170 million users in the U.S., is facing a <a href="https://www.benzinga.com/startups/24/12/42496518/tiktok-ban-signed-into-law-what-it-means-for-americas-15-billion-small-business-economy" target="_blank" rel="noreferrer noopener">law that threatens to block the social media app</a>. President-elect&nbsp;Donald Trump, meanwhile, <a href="https://www.benzinga.com/24/12/42712643/trump-asks-supreme-court-to-delay-tiktok-ban-as-he-pursues-a-political-resolution">is seeking </a>a &#8220;political resolution&#8221; to the TikTok ban. The Supreme Court has signaled support for enforcing the<a href="https://www.benzinga.com/24/12/42495579/lawmakers-demand-apple-and-google-remove-tiktok-by-jan-19-what-you-need-to-know" target="_blank" rel="noreferrer noopener">&nbsp;Jan. 19 deadline.</a>
Burger King is part of Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>).
Now Read:
<ul>
<li><a href="https://www.benzinga.com/25/01/42931704/tiktok-users-call-on-trump-to-deliver-immediately-on-his-promise-to-save-app-from-us-ban-we-dont-need-the-supreme-court-to">TikTok Users Call On Trump To &#8216;Deliver Immediately&#8217; On His &#8216;Promise&#8217; To Save App From US Ban: &#8216;We Don&#8217;t Need The Supreme Court To…&#8217;</a></li>
</ul>
Photo: Savvapanf on Shutterstock

BofA Securities analysts Sara Senatore and Katherine Griffin expressed their views on the restaurant industry for the year ahead 2025.
The analysts expect slow but still healthy job growth to support restaurant demand, industry pricing to moderate, and promotional activity to rise as input prices fall.
Notably, the analysts write that the industry growth in 2024 aligned with historical averages—Blackbox industry SSSG was -0.2% compared to the 2013-2019 average of -0.1%, and PCE growth was +4.9% versus the pre-COVID average of +5.1%, according to the analysts.
However, the analysts add that growth patterns were atypical, with fine dining and traditional Quickservice underperforming, while midscale and casual dining performed better.
Senatore and Griffin attribute this shift to a reversion to pre-COVID consumption behaviors and expect more typical industry trends in 2025.
The analysts maintain a Buy rating on Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) <a target="_blank" href="https://www.benzinga.com/quote/sbux/analyst-ratings" rel="noreferrer noopener">with a price forecast of $117</a>.
The analysts remain confident in the brand&#8217;s strength and the potential to reallocate resources to more productive areas.
Also, the analysts reiterated an Underperform rating on Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), expecting reinvestment needs to <a target="_blank" href="https://www.benzinga.com/quote/qsr/analyst-ratings" rel="noreferrer noopener">constrain topline and EPS growth</a>.
Also, the analysts cut the revenue forecasts for QSR, anticipating increased competitive pressures.
On the other hand, Senatore and Griffin lowered the price forecast on Krispy Kreme, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNUT#NASDAQ">DNUT</a>) <a target="_blank" href="https://www.benzinga.com/quote/dnut/analyst-ratings" rel="noreferrer noopener">to $14 from $17 prior</a>.
The analysts also lowered the company&#8217;s estimates, reflecting slightly lower topline growth and higher operating expenses in the first half of 2025.
Meanwhile, the analysts maintained a price forecast of $87 for Sysco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>), and higher EBITDA estimates reflected lower operating expense assumptions.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42859415/easing-inflation-brings-hope-to-restaurants-in-2025-but-uncertainty-lingers-analyst-upgrades-shake-shack-and-dutch-bros" target="_blank" rel="noreferrer noopener">Easing Inflation Brings Hope To Restaurants In 2025 But Uncertainty Lingers: Analyst Upgrades Shake Shack And Dutch Bros</a></li>
</ul>
Photo via Shutterstock.

Starbucks Shines, QSR Faces Challenges: BofA's 2025 Restaurant Outlook

Stifel analyst Chris O'Cull maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Hold and lowers the price target from $72 to $68.

Stifel Maintains Hold on Restaurant Brands Intl, Lowers Price Target to $68

Barclays analyst Jeffrey A. Bernstein has outlined top themes to watch out for in the U.S. restaurants in 2025.
The restaurant industry, according to the analyst, is experiencing mixed results as it navigates a volatile environment heading into the third quarter of 2024.
A recent preview highlighted that many companies have struggled to meet expectations regarding same-store sales and earnings per share, noted the analyst.
Despite these challenges, most have shared optimistic outlooks on recent sales trends.
As 2024 progresses, the key focus remains the consumer outlook, which has been unpredictable. On a positive note, unemployment rates remain near record lows, and wages continue to rise, contributing to a healthy increase in real disposable income, the analyst added.
Inflation has also eased, allowing the Federal Reserve to slow down its rate changes, said the analyst.
However, the analyst warned that the cost of living, including high rent and basic expenses, continues to pressure consumers.
Consumer confidence has remained lower than pre-pandemic levels, and many restaurants are working to improve traffic by offering greater value in response to inflation concerns.
Commodity inflation, excluding coffee, has shown signs of normalization and December 2024 saw a year-on-year increase of around 16%, mainly driven by coffee prices, asserted the analyst.
Restaurants are expecting mid-single-digit inflation in 2025, assuming current prices hold and the industry is hoping for a more stable cost environment that can support margins amidst uncertain sales projections, added the analyst.
The analyst expressed concern about labor costs and said while wage inflation has slowed from the peaks seen during 2021 and 2022, December 2024 saw a year-on-year wage increase of 10.3%.
In menu pricing, restaurants are easing the aggressive price hikes seen in recent years and overall, the industry is moving towards smaller price increases as commodity and labor inflation stabilizes, said the analyst.
The analyst upgraded both Shake Shack Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) and Dutch Bros Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) to Overweight from Equal Weight.
The analyst downgraded Bloomin&#8217; Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMN#NASDAQ">BLMN</a>) and Dine Brands Global Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIN#NYSE">DIN</a>) to Equal Weight from Overweight.
Photo via Shutterstock.

Oppenheimer analyst Brian Bittner maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperform and lowers the price target from $86 to $77.

Oppenheimer Maintains Outperform on Restaurant Brands Intl, Lowers Price Target to $77

RBI Suggests Shareholders Reject New York Stock And Bonds Mini-Tender Offer; Offer To Purchase 10K Shares At $45/Share

https://www.cnbc.com/2024/11/20/mcdonalds-preparing-mcvalue-offering-for-2025.html#:~:text=McDonald's%20is%20working%20on%20a,%E2%80%9D%20option%2C%20CNBC%20has%20learned.

"McDonald's Plans 2025 'McValue' Initiative With $5 Meal Deal And 'Buy One Add One' Option" - CNBC

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
Photo: Shutterstock

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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Stifel analyst Chris O'Cull maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Hold and lowers the price target from $77 to $72.

Stifel Maintains Hold on Restaurant Brands Intl, Lowers Price Target to $72

Argus Research analyst John Staszak maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Buy and lowers the price target from $85 to $80.

Argus Research Maintains Buy on Restaurant Brands Intl, Lowers Price Target to $80

TD Cowen analyst Andrew Charles maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Buy and lowers the price target from $82 to $80.

TD Cowen Maintains Buy on Restaurant Brands Intl, Lowers Price Target to $80

CIBC analyst John Zamparo maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperformer and lowers the price target from $88 to $86.

CIBC Maintains Outperformer on Restaurant Brands Intl, Lowers Price Target to $86

Shares of Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) continued to slide in early trading on Wednesday, after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/41742557/burger-king-parent-restaurant-brands-stock-slips-on-q3-earnings-miss-on-track-to-deliver-8-system-w">downbeat third-quarter earnings</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
RBC Capital Markets On Restaurant Brands International
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6645dc02eba8c50001257ef4/logan-reich">Analyst Logan Reich</a> maintained an Outperform rating, while reducing the price target from $95 to $90.
Restaurant Brands International's third-quarter revenues and EBITDA missed consensus by 2.5% and 1.2%, respectively, Reich said in a note. The company's revenue shortfall was due to lower same-store sales "across every brand," he added.
Same-store sales trends improved in October, driven by Burger King, Popeyes Louisiana Kitchen and the international segment, with consumer pressures "abating to some degree," the analyst stated. "Further, the company continues to demonstrate their ability to manage expenses in a challenging macro which could give investors confidence in some level of earnings support next year even if macro is worse than expected," he wrote.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
KeyBanc Capital Markets On Restaurant Brands International
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58e64302b85e9300014c97e6/eric-gonzalez">Analyst Eric Gonzalez</a> reaffirmed an Overweight rating, while cutting the price target from $80 to $78.
Restaurant Brands International results missed consensus on macro pressures and competitive challenges, Gonzalez said. Management lowered full-year outlook for systemwide sales to 5%-5.5% and unit growth to around 3.5%, he added.
"However, it continues to see 8% + adj. operating income growth and reaffirmed its five-year outlook, including 8%+ systemwide sales growth and 5% unit growth on average through 2028," the analyst wrote. He added that same-store sales improved across the portfolio in October, from around flat to the low single-digit range.
QSR Price Action: Shares of Restaurant Brands International were flat at $68.17 at the time of publication on Wednesday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41535638/mcdonalds-rivals-burger-king-yum-brands-remove-onions-from-menus-amid-quarter-pounder-e-coli-scare">McDonald&#8217;s Rivals Burger King, Yum Brands Remove Onions From Menus Amid Quarter-Pounder E.Coli Scare</a></li>
</ul>
Photo by Savvapanf on Shutterstock

Earnings Beats

Reiteration

Movers

Restaurant Brands Analysts Trim Forecasts After Q3 Sales Miss

Evercore ISI Group analyst David Palmer maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperform and lowers the price target from $93 to $90.

Evercore ISI Group Maintains Outperform on Restaurant Brands Intl, Lowers Price Target to $90

RBC Capital analyst Christopher Carril maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Outperform and lowers the price target from $95 to $90.

RBC Capital Maintains Outperform on Restaurant Brands Intl, Lowers Price Target to $90

Keybanc analyst Eric Gonzalez maintains Restaurant Brands Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) with a Overweight and lowers the price target from $80 to $78.

Keybanc Maintains Overweight on Restaurant Brands Intl, Lowers Price Target to $78

Guidance

Restaurant Brands Exec, In China, Sent Termination Notices To Master Franchisee, Which Was Disputed, And We Are Currently In Dispute Resolution Process; Says Now Believe FY24 System-wide Sales Growth Will Be In 5% To 5.5% Range

Restaurant Brands International Executive Says Expect FY System-Wide Sales Growth Will Come In Slightly Below Expectations Laid Out In August; In China, Actively Working To Find Right Long-Term Path For Burger King

Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) shares are trading lower in the premarket session on Tuesday after the company <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">reported its third-quarter results.</a>
Restaurant Brands reported adjusted earnings per share of 93 cents, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41740099/restaurant-brands-international-inc-reports-third-quarter-2024-results" rel="noreferrer noopener">missing the street view of 95 cents</a>. Quarterly sales of $2.291 billion missed the analyst consensus estimate of $2.307 billion.
The company reported consolidated comparable sales growth of 0.3% and a 3.8% increase in net restaurants compared to the previous year. System-wide sales saw a 3.2% year-over-year rise.
Income from operations was $577 million, slightly down from $582 million in the prior year. However, adjusted operating income reached $652 million, reflecting a 6.1% organic growth when excluding foreign exchange impacts and Restaurant Holdings.
&#8220;We have been pleased to see an improvement in consolidated comparable sales in October and remain confident we will achieve our 8% plus Adjusted Operating Income growth target for 2024 and beyond,&#8221; said Josh Kobza.
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After acquiring Carrols and PLK China, Restaurant Brands created Restaurant Holdings. This segment includes results from Carrols Burger King and PLK China restaurants.
The company exited the quarter with cash and equivalents worth $1.176 billion. Net inventories as of quarter end totaled $169 million. The company&#8217;s long-term debt, net of current portion as of quarter end was $13.571 billion.
Dividend: Restaurant Brands declared a dividend of&nbsp;58 cents&nbsp;per common share for the fourth quarter of 2024. The dividend will be payable on January&nbsp;3.
Outlook: For 2024, Restaurant Brands continues to expect adjusted net interest expense to range between $565 million and $575 million. Additionally, consolidated capital expenditures, tenant inducements, and incentives (excluding RH) are expected to total around $300 million.
Restaurant Brands continues to expect its long-term performance targets for 2024 to 2028, including expectations of 3%+ growth in comparable sales, 5%+ growth in net restaurant count, 8%+ growth in system-wide sales, and adjusted operating income growth at least in line with system-wide sales growth.
Price Action: QSR shares are trading lower by 2.87% to $68.03 premarket at last check Tuesday.
Photo by Savvapanf on Shutterstock
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