Wingstop Inc. Expected to Earn Q2 2024 Earnings of $0.74 Per Share (NASDAQ:WING)

Wingstop Inc. (NASDAQ:WING) – Equities researchers at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for shares of Wingstop in a note issued to investors on Thursday, May 2nd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $0.74 per share for the quarter, up from their previous estimate of $0.72. Wedbush currently has a “Outperform” rating and a $425.00 price target on the stock. The consensus estimate for Wingstop’s current full-year earnings is $3.03 per share. Wedbush also issued estimates for Wingstop’s Q3 2024 earnings at $0.84 EPS, FY2024 earnings at $3.35 EPS and Q3 2025 earnings at $1.05 EPS.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Wingstop from $280.00 to $315.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Benchmark restated a “hold” rating on shares of Wingstop in a research note on Thursday. TD Cowen reaffirmed a “buy” rating and set a $410.00 price objective on shares of Wingstop in a research report on Wednesday. Sanford C. Bernstein began coverage on Wingstop in a report on Wednesday, February 14th. They issued an “outperform” rating and a $340.00 price objective on the stock. Finally, Barclays upped their price target on Wingstop from $350.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $330.39.

Wingstop Stock Performance

Shares of Wingstop stock opened at $388.55 on Friday. The business has a 50-day simple moving average of $359.50 and a 200-day simple moving average of $286.56. The company has a market cap of $11.41 billion, a PE ratio of 135.78, a P/E/G ratio of 6.60 and a beta of 1.67. Wingstop has a one year low of $150.08 and a one year high of $396.00.

Wingstop (NASDAQ:WING) last released its earnings results on Wednesday, May 1st. The restaurant operator reported $0.98 EPS for the quarter, topping the consensus estimate of $0.76 by $0.22. The firm had revenue of $145.70 million during the quarter, compared to analysts’ expectations of $136.34 million. Wingstop had a negative return on equity of 19.64% and a net margin of 16.75%. Wingstop’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wingstop during the 4th quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in Wingstop in the first quarter valued at $29,000. Headlands Technologies LLC purchased a new position in shares of Wingstop in the third quarter valued at $38,000. FSC Wealth Advisors LLC acquired a new position in shares of Wingstop during the 4th quarter worth $39,000. Finally, GAMMA Investing LLC boosted its position in shares of Wingstop by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 115 shares of the restaurant operator’s stock worth $42,000 after buying an additional 40 shares in the last quarter.

Insider Transactions at Wingstop

In related news, CEO Michael Skipworth sold 10,843 shares of Wingstop stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $337.40, for a total value of $3,658,428.20. Following the transaction, the chief executive officer now directly owns 17,107 shares in the company, valued at approximately $5,771,901.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Wingstop news, Director Kilandigalu Madati sold 1,472 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $339.87, for a total transaction of $500,288.64. Following the sale, the director now directly owns 5,450 shares in the company, valued at approximately $1,852,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Skipworth sold 10,843 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $337.40, for a total transaction of $3,658,428.20. Following the completion of the transaction, the chief executive officer now owns 17,107 shares of the company’s stock, valued at approximately $5,771,901.80. The disclosure for this sale can be found here. Insiders sold 14,901 shares of company stock worth $5,120,605 over the last 90 days. 0.36% of the stock is currently owned by insiders.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, May 16th. Wingstop’s payout ratio is currently 31.32%.

About Wingstop

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.