Wingstop (NASDAQ:WING) Board Declares Share Repurchase Plan

Wingstop (NASDAQ:WING) declared that its Board of Directors has approved a stock buyback program on Thursday, December 5th, RTT News reports. The company plans to buyback $500.00 million in shares. This buyback authorization allows the restaurant operator to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wingstop Trading Up 0.0 %

Shares of WING stock traded up $0.05 during midday trading on Thursday, reaching $337.30. 351,106 shares of the stock were exchanged, compared to its average volume of 460,920. The firm has a market cap of $9.85 billion, a PE ratio of 98.32, a price-to-earnings-growth ratio of 3.05 and a beta of 1.78. The company’s 50 day moving average is $357.29 and its two-hundred day moving average is $379.31. Wingstop has a 1 year low of $240.60 and a 1 year high of $433.86.

Wingstop (NASDAQ:WING) last announced 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 business had revenue of $162.50 million for the quarter, compared to the consensus estimate of $160.24 million. Wingstop had a net margin of 17.05% and a negative return on equity of 22.69%. The business’s quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. As a group, equities analysts expect that Wingstop will post 3.68 EPS for the current fiscal year.

Wingstop Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on WING shares. Stephens dropped their target price on shares of Wingstop from $490.00 to $468.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. TD Cowen cut their target price on shares of Wingstop from $450.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. BTIG Research upgraded Wingstop from a “neutral” rating to a “buy” rating and set a $370.00 price target on the stock in a research report on Thursday, October 31st. Benchmark upgraded Wingstop from a “hold” rating to a “buy” rating and set a $340.00 price objective on the stock in a research report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and issued a $390.00 target price on shares of Wingstop in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Wingstop currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.74.

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.