Wingstop (NASDAQ:WING) to Buyback $500.00 million in Outstanding Shares

Wingstop (NASDAQ:WING) declared that its board has approved a share buyback plan on Thursday, December 5th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler dropped their target price on shares of Wingstop from $375.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. TD Cowen dropped their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Citigroup increased their target price on shares of Wingstop from $417.00 to $440.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Wedbush reaffirmed an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded shares of Wingstop from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $458.00 to $377.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.74.

Wingstop Stock Up 0.0 %

Shares of WING stock opened at $337.30 on Friday. The firm’s 50 day moving average price is $357.29 and its two-hundred day moving average price is $379.31. Wingstop has a fifty-two week low of $240.60 and a fifty-two week high of $433.86. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 98.32, a price-to-earnings-growth ratio of 3.05 and a beta of 1.78.

Wingstop (NASDAQ:WING) last posted its earnings results on Wednesday, October 30th. The restaurant operator reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.09). The firm had revenue of $162.50 million for the quarter, compared to analyst estimates of $160.24 million. Wingstop had a negative return on equity of 22.69% and a net margin of 17.05%. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Wingstop will post 3.68 EPS for the current fiscal year.

Wingstop Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $0.27 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.08 dividend on an annualized basis and a yield of 0.32%. Wingstop’s dividend payout ratio is presently 31.49%.

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.