Oppenheimer Equities Analysts Raise Earnings Estimates for Wingstop Inc. (NASDAQ:WING)

Wingstop Inc. (NASDAQ:WINGGet Rating) – Equities research analysts at Oppenheimer lifted their Q2 2022 earnings per share estimates for Wingstop in a research note issued to investors on Wednesday, May 4th. Oppenheimer analyst M. Tamas now anticipates that the restaurant operator will earn $0.41 per share for the quarter, up from their prior forecast of $0.34. Oppenheimer also issued estimates for Wingstop’s Q3 2022 earnings at $0.42 EPS, Q4 2022 earnings at $0.44 EPS, FY2022 earnings at $1.55 EPS and FY2023 earnings at $1.84 EPS.

Several other equities research analysts have also recently weighed in on WING. BMO Capital Markets reduced their price target on shares of Wingstop from $180.00 to $140.00 in a research report on Thursday. Piper Sandler cut shares of Wingstop from an “overweight” rating to an “underweight” rating in a research report on Friday, March 18th. Cowen reduced their price target on shares of Wingstop from $135.00 to $120.00 in a research report on Thursday. Zacks Investment Research cut shares of Wingstop from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wingstop from $168.00 to $100.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Wingstop has a consensus rating of “Hold” and an average price target of $154.72.

Wingstop stock opened at $84.02 on Monday. The stock has a market cap of $2.51 billion, a P/E ratio of 65.64, a PEG ratio of 5.14 and a beta of 1.40. Wingstop has a 1 year low of $81.37 and a 1 year high of $187.35. The firm’s 50 day moving average price is $112.33 and its 200-day moving average price is $143.98.

Wingstop (NASDAQ:WINGGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $76.20 million for the quarter, compared to the consensus estimate of $86.16 million. Wingstop had a net margin of 13.25% and a negative return on equity of 10.89%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS.

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in Wingstop by 25.8% in the fourth quarter. American Century Companies Inc. now owns 1,839,124 shares of the restaurant operator’s stock worth $317,801,000 after purchasing an additional 377,541 shares during the last quarter. Wellington Management Group LLP grew its holdings in Wingstop by 29.6% in the third quarter. Wellington Management Group LLP now owns 1,351,488 shares of the restaurant operator’s stock worth $221,549,000 after purchasing an additional 308,527 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Wingstop by 9.2% in the fourth quarter. Alliancebernstein L.P. now owns 973,704 shares of the restaurant operator’s stock worth $168,256,000 after purchasing an additional 82,425 shares during the last quarter. State Street Corp grew its holdings in Wingstop by 1.6% in the fourth quarter. State Street Corp now owns 896,794 shares of the restaurant operator’s stock worth $154,966,000 after purchasing an additional 14,050 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Wingstop by 1.7% in the fourth quarter. Invesco Ltd. now owns 844,382 shares of the restaurant operator’s stock worth $145,909,000 after purchasing an additional 14,386 shares during the last quarter.

In related news, COO Michael Skipworth sold 748 shares of Wingstop stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $136.24, for a total transaction of $101,907.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles R. Morrison sold 5,270 shares of Wingstop stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $150.99, for a total transaction of $795,717.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,835 shares of company stock worth $1,300,835. 0.64% of the stock is owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 19th. Wingstop’s dividend payout ratio (DPR) is presently 53.13%.

About Wingstop (Get Rating)

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer classic wings, boneless wings, and tenders that are cooked-to-order, and hand-sauced-and-tossed in various flavors. As of December 25, 2021, the company had 1,695 franchised restaurants and 36 company-owned restaurants in 44 states and 7 countries worldwide.

Further Reading

Earnings History and Estimates for Wingstop (NASDAQ:WING)

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