Wingstop (NASDAQ:WING) Issues FY22 Earnings Guidance

Wingstop (NASDAQ:WINGGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided EPS guidance of $1.55-$1.57 for the period, compared to the consensus EPS estimate of $1.54.

Several brokerages recently commented on WING. Citigroup dropped their price objective on shares of Wingstop from $160.00 to $139.00 in a research note on Thursday. Cowen cut their price objective on Wingstop from $135.00 to $120.00 in a report on Thursday. Zacks Investment Research cut Wingstop from a hold rating to a strong sell rating in a report on Thursday, March 10th. Wedbush cut their price target on Wingstop from $135.00 to $125.00 in a research note on Thursday. Finally, BMO Capital Markets reduced their price target on Wingstop from $180.00 to $140.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $156.16.

Shares of NASDAQ WING traded down $7.93 during mid-day trading on Thursday, reaching $89.06. 17,317 shares of the company’s stock were exchanged, compared to its average volume of 535,811. The firm has a 50-day moving average price of $114.60 and a two-hundred day moving average price of $145.49. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 63.26, a price-to-earnings-growth ratio of 5.35 and a beta of 1.40. Wingstop has a 52 week low of $82.00 and a 52 week high of $187.35.

Wingstop (NASDAQ:WINGGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The restaurant operator reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Wingstop had a negative return on equity of 12.62% and a net margin of 15.10%. The company had revenue of $76.20 million during the quarter, compared to the consensus estimate of $86.16 million. During the same period in the prior year, the firm posted $0.44 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, analysts expect that Wingstop will post 1.54 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 20th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, May 19th. This represents a $0.68 annualized dividend and a dividend yield of 0.76%. Wingstop’s payout ratio is 47.55%.

In related news, CEO Charles R. Morrison sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $136.50, for a total value of $136,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Skipworth sold 356 shares of the stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $150.35, for a total transaction of $53,524.60. The disclosure for this sale can be found here. Insiders sold a total of 8,835 shares of company stock worth $1,300,835 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. MML Investors Services LLC increased its stake in Wingstop by 9.0% in the 4th quarter. MML Investors Services LLC now owns 1,424 shares of the restaurant operator’s stock worth $246,000 after purchasing an additional 117 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Wingstop by 92.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,856 shares of the restaurant operator’s stock worth $321,000 after buying an additional 891 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Wingstop by 16.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 4,403 shares of the restaurant operator’s stock valued at $761,000 after buying an additional 619 shares during the last quarter. Stifel Financial Corp boosted its position in Wingstop by 12.8% during the 4th quarter. Stifel Financial Corp now owns 7,540 shares of the restaurant operator’s stock valued at $1,302,000 after buying an additional 855 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Wingstop by 10.1% in the fourth quarter. Glenmede Trust Co. NA now owns 11,331 shares of the restaurant operator’s stock valued at $1,957,000 after acquiring an additional 1,039 shares during the period.

Wingstop Company Profile (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.

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Earnings History and Estimates for Wingstop (NASDAQ:WING)

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