Q3 2024 Earnings Estimate for Wingstop Inc. (NASDAQ:WING) Issued By Wedbush

Wingstop Inc. (NASDAQ:WING) – Analysts at Wedbush boosted their Q3 2024 earnings per share (EPS) estimates for shares of Wingstop in a research note issued to investors on Monday, September 16th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $0.99 for the quarter, up from their previous forecast of $0.98. Wedbush currently has a “Outperform” rating and a $440.00 price target on the stock. The consensus estimate for Wingstop’s current full-year earnings is $3.77 per share. Wedbush also issued estimates for Wingstop’s Q4 2024 earnings at $0.90 EPS, FY2024 earnings at $3.80 EPS, Q2 2025 earnings at $1.18 EPS, Q4 2025 earnings at $1.16 EPS and FY2025 earnings at $4.75 EPS.

Other equities analysts also recently issued research reports about the company. Raymond James upgraded Wingstop from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Thursday, August 1st. Morgan Stanley lifted their price objective on Wingstop from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. Barclays lifted their price objective on Wingstop from $418.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial lifted their price objective on Wingstop from $407.00 to $423.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their price objective on Wingstop from $407.00 to $458.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $379.53.

Wingstop Price Performance

Wingstop stock opened at $421.53 on Wednesday. The company has a market capitalization of $12.35 billion, a PE ratio of 150.01, a price-to-earnings-growth ratio of 4.09 and a beta of 1.71. Wingstop has a one year low of $166.65 and a one year high of $431.03. The business has a 50 day simple moving average of $380.27 and a 200 day simple moving average of $380.66.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, July 31st. The restaurant operator reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $155.70 million during the quarter, compared to the consensus estimate of $146.04 million. Wingstop had a negative return on equity of 21.18% and a net margin of 17.33%. Wingstop’s revenue was up 45.3% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS.

Wingstop Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from Wingstop’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.26%. Wingstop’s payout ratio is 38.43%.

Insider Buying and Selling

In related news, SVP Donnie Upshaw sold 3,199 shares of Wingstop stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $372.71, for a total transaction of $1,192,299.29. Following the completion of the sale, the senior vice president now directly owns 97 shares of the company’s stock, valued at $36,152.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Wingstop

A number of institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in shares of Wingstop by 3.7% during the second quarter. CIBC Asset Management Inc now owns 821 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 29 shares during the period. Dark Forest Capital Management LP lifted its holdings in Wingstop by 4.3% during the second quarter. Dark Forest Capital Management LP now owns 752 shares of the restaurant operator’s stock worth $318,000 after acquiring an additional 31 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in Wingstop by 0.3% during the fourth quarter. Congress Asset Management Co. MA now owns 11,380 shares of the restaurant operator’s stock worth $2,920,000 after acquiring an additional 34 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Wingstop by 60.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 93 shares of the restaurant operator’s stock worth $39,000 after acquiring an additional 35 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Wingstop by 16.9% during the fourth quarter. Quadrant Capital Group LLC now owns 263 shares of the restaurant operator’s stock worth $67,000 after acquiring an additional 38 shares in the last quarter.

Wingstop Company Profile

Wingstop Inc, together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order.