Restaurant Brands Analysts Trim Forecasts After Q3 Sales Miss
Shares of Restaurant Brands International Inc (NYSE:QSR) continued to slide in early trading on Wednesday, after the company reported downbeat third-quarter earnings.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
RBC Capital Markets On Restaurant Brands International
Analyst Logan Reich 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 …
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