Wingstop Inc. (WING) to Distribute Quarterly Dividend of $0.33 on September 5th

Wingstop Inc. (NASDAQ:WING) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Saturday, August 15th will be given a dividend of 0.33 per share by the restaurant operator on Saturday, September 5th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. This is a 10.0% increase from Wingstop’s previous quarterly dividend of $0.30.

Wingstop has decreased its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Wingstop has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wingstop to earn $5.33 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 24.8%.

Wingstop Price Performance

Shares of WING opened at $111.36 on Wednesday. The company has a 50-day moving average of $147.73 and a two-hundred day moving average of $180.04. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.40 and a beta of 1.81. Wingstop has a one year low of $110.44 and a one year high of $345.81.

Wingstop (NASDAQ:WING) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $185.56 million for the quarter, compared to analyst estimates of $190.25 million. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Analysts anticipate that Wingstop will post 4.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Guggenheim cut their target price on shares of Wingstop from $255.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Sanford C. Bernstein cut Wingstop from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $220.00 to $155.00 in a research report on Monday, August 3rd. Wells Fargo & Company lowered their price target on Wingstop from $170.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Barclays dropped their price target on Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Piper Sandler set a $173.00 price objective on Wingstop in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.81.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.