These Analysts Revise Their Forecasts On Restaurant Brands After Q3 Results
Portfolio Pulse from Lisa Levin
Restaurant Brands International Inc (NYSE:QSR) reported Q3 FY23 sales growth of 6.4% YoY to $1.837 billion, missing the analyst consensus estimate of $1.874 billion. However, its adjusted EPS of $0.90 beat the consensus estimate of $0.86. Following the earnings announcement, Keybanc, Truist Securities, and RBC Capital revised their price targets on Restaurant Brands. The company's shares fell 2.4% to trade at $66.20 on Monday.
November 06, 2023 | 5:33 pm
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Restaurant Brands' Q3 sales missed estimates, leading to a 2.4% drop in its share price. However, its EPS beat estimates. Analysts from Keybanc, Truist Securities, and RBC Capital revised their price targets following the earnings announcement.
Restaurant Brands' weaker-than-expected Q3 sales likely contributed to the 2.4% drop in its share price. However, its EPS beat estimates, which could potentially mitigate further losses. The revised price targets by Keybanc, Truist Securities, and RBC Capital indicate that analysts are adjusting their expectations based on the company's recent performance.
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IMPORTANCE 80
RELEVANCE 100