Burger King parent
Restaurant Brands International (QSR) reported fourth-quarter earnings that edged past Wall Street estimates Monday morning. Restaurant Brands stock closed below a buy point after breaking out earlier.XRestaurant Brands EarningsEstimates: Wall Street expected Restaurant Brands earnings per share to rise 1.5% to 67 cents. Revenue was expected to climb 12% to $1.378 billion. In January, the company gave preliminary same-store sales results showing they rose 1.7% at Burger King, 1.9% at Tim Hortons and 0.1% at Popeyes Louisiana Kitchen.Results: Restaurant Brands earnings rose 3% to 68 cents per share. Revenue climbed 12% to $1.385 billion. Same-store sales matched last month's preliminary figures.In a statement, CEO Jose Cil, Restaurant Brands' new CEO, said additional openings of Burger King and Popeyes and better same-store sales momentum at Tim Hortons helped the company last year."We have demonstrated our increased focus on technology and made notable progress against many of our initiatives including delivery, kiosks, and mobile app development," he said.Restaurant Brands StockRestaurant Brands stock 1.7% to 63.75 in the stock market today, giving up some gains after rising as high as 65.59 in the morning. That left shares back below a 64.27 buy point in a large cup-with-handle base going back to late July. Restaurant Brands stock closed at 62.70 on Friday.The company's results follow an executive shake-up at last month. Daniel Schwartz, CEO since 2014, became executive chairman. Cil, formerly the president of Burger King, moved into the CEO post. Josh Kobza became chief operating officer.The moves, the company said, were geared toward "accelerating its global growth."Restaurant Brands stock spiked last month on the preliminary same-store sales figures and executive moves.Other Restaurant StocksBut McDonald's (MCD) warned of "tightening economies and shifting political environments" when it reported fourth-quarter earnings last month. McDonald's stock was down 0.3% Monday, continuing a slide over the last few weeks.Fast-food restaurants have also been locked in a battle over value, inundating bargain-hungry customers with dollar
combo deals but hurting sales in the process.Chipotle Mexican Grill (CMG), which jumped 11% on Thursday on blowout earnings. The stock's relative strength line is at its highest level in nearly three years. Its Composite Rating is 90. Chipotle stock climbed 3.5% Monday.Wingstop (WING), another highly rated restaurant stock, rose 2.5% to 69.40. Wingstop stock is close to a 72.32 high-handle entry.YOU MIGHT ALSO LIKE:These 5 Tasty Stocks Are Near Buy PointsStock Market Outlook: Wall Street Braves Political Risks As 2020 Election LoomsIBD Stock Of The Day Charges Into Buy Zone On Strong Earnings, OutlookThese 4 Top Stocks At New Highs Are Breaking Out TodayThe post Restaurant Brands Earnings Top; Burger King Parent Tries To Break Out appeared first on Investor's Business Daily. Weiter zum vollständigen Artikel bei "Investors Business Daily"
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