These Analysts Boost Their Forecasts On Wingstop After Upbeat Q4 Results
Portfolio Pulse from Avi Kapoor
Wingstop Inc. (NASDAQ:WING) reported Q4 fiscal 2023 results surpassing Wall Street estimates with adjusted earnings per share of 64 cents and revenues of $127.05 million. The company announced a quarterly dividend of 22 cents per share and highlighted a record year with 18.3% domestic same-store sales growth and 255 net new units. Wingstop expects mid-single-digit domestic same-store sales growth for fiscal 2024. Following the report, Wingstop shares fell 4.4%, but analysts from TD Cowen and Wedbush raised their price targets.
February 22, 2024 | 12:34 pm
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Wingstop reported strong Q4 results, announced a dividend, and received raised price targets from analysts despite a share price drop.
Wingstop's better-than-expected Q4 results and positive outlook for fiscal 2024, along with raised price targets from analysts, indicate a strong performance and growth potential. Despite the short-term share price drop, the overall positive results and analyst confidence suggest a likely positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100