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Wingstop (WING) ended the recent trading session at $412.70, demonstrating a -0.95% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
The restaurant chain's shares have seen an increase of 11.51% over the last month, surpassing the Retail-Wholesale sector's gain of 4.15% and the S&P 500's gain of 1.57%.
The upcoming earnings release of Wingstop will be of great interest to investors. The company is forecasted to report an EPS of $0.96, showcasing a 39.13% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $160.78 million, up 37.3% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.78 per share and revenue of $625.74 million. These totals would mark changes of +52.42% and +36.01%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Wingstop. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.75% increase. At present, Wingstop boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Wingstop is presently trading at a Forward P/E ratio of 110.26. This signifies a premium in comparison to the average Forward P/E of 20.62 for its industry.
We can additionally observe that WING currently boasts a PEG ratio of 4.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Retail - Restaurants stocks are, on average, holding a PEG ratio of 2.19 based on yesterday's closing prices.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 164, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Investment Research
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying GOOGL stock? Here’s what analysts think:
Read More:
Latest Ratings for GOOGL
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2022 | MKM Partners | Maintains | Buy | |
Feb 2022 | Mizuho | Maintains | Buy | |
Feb 2022 | Piper Sandler | Maintains | Overweight |
View More Analyst Ratings for GOOGL
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Wingstop Inc. WING is likely to benefit from unit expansion, franchise model and technological initiatives. The company’s focus on enhancing shareholder value bodes well. However, a challenging macroeconomic environment and elevated costs are concerns.
Growth Catalysts for Wingstop Stock
Wingstop focuses on unit expansion to drive growth. Over the last 12 months, the company has opened more than 300 net new restaurants, demonstrating its ability to grow both domestically and internationally at a rapid pace. In the second quarter of 2024, WING opened 73 new restaurants. The company has revised its outlook for 2024, projecting the opening of between 285 and 300 new restaurants, up from the previous guidance of 275 to 295. These expansion efforts signal strong future revenue potential, as Wingstop continues to penetrate new markets and grow its global footprint.
Wingstop’s franchise model continues to generate strong returns. The company’s average unit volume has grown from $1.5 million (two years ago) to over $2 million. This growth is fueling record demand for new restaurants. Wingstop's franchisees are reporting unlevered cash-on-cash returns of over 70%, making it an attractive investment for current and potential brand partners.
Increased focus on digitalization bode well. During the second quarter, digital sales accounted for 68.3% of Wingstop's total sales, thereby showcasing strength in leveraging technology to enhance the customer experience. With over 45 million digital users, Wingstop is capitalizing on its proprietary MyWingstop platform to improve engagement and conversion rates through hyper-personalization. The company's investment in data-driven marketing and digital transformation is setting the stage for sustained long-term growth. As more transactions shift to digital platforms, Wingstop is well-positioned to capture a larger market share while enhancing operational efficiency.
Wingstop's focus on enhancing shareholder value is evident through its stock repurchase program and dividend policy. In the second quarter, the company repurchased 75,862 shares at an average price of $381.29. As of the end of the second quarter, WING reported $96.1 million remaining under the current repurchase authorization. Additionally, Wingstop increased its quarterly dividend by 23%, further underscoring its commitment to returning capital to shareholders. The combination of repurchase programs and dividend payouts makes it an attractive option for investors seeking both growth and income.
Concerns for WING Stock
In the past three months, Wingstop’s shares have lost 0.8% against the industry’s 4.8% growth. The downside was driven by macroeconomic headwinds.
WING has been grappling with rising costs. Its selling, general and administrative (SG&A) expenses have been rising significantly, increasing by $6 million year over year to a total of $28.1 million in the second quarter. While some of this increase can be attributed to long-term investments in digital platforms like MyWingstop, the rapid rise in short-term incentive compensation and stock-based compensation is concerning. With the company’s total SG&A expenses projected to reach up to $116 million by 2024-end, up from $111 million, cost control could become an issue. If growth stalls, Wingstop may find itself burdened by these escalating expenses.
Conclusion
Wingstop’s ability to open new restaurants at a record pace, combined with its high franchisee returns and increasing digital sales, underscores its long-term growth potential. Moreover, its focus on shareholder value through stock buybacks and dividend increases enhances its appeal for investors seeking both capital appreciation and income.
However, investors should be mindful of the challenges posed by rising operational costs and a challenging macroeconomic environment. As the company continues to invest heavily in technology and expansion, cost management will be crucial to sustaining profitability. The company’s growth drivers and strategic initiatives make it a compelling stock to retain for now, as it navigates the headwinds and capitalizes on future opportunities.
Zacks Rank & Key Picks
Wingstop currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Retail-Wholesale sector include Texas Roadhouse, Inc. TXRH, Potbelly Corporation PBPB and El Pollo Loco Holdings, Inc. LOCO, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Texas Roadhouse has a trailing four-quarter earnings surprise of 0.4%, on average. TXRH shares have gained 58.7% in the past year. The Zacks Consensus Estimate for TXRH’s 2024 sales and EPS indicates 15.6% and 39.2% growth, respectively, from the year-earlier actuals.
Potbelly Corporation has a trailing four-quarter earnings surprise of 77.5%, on average. The stock has dropped 3.6% in the past year. The Zacks Consensus Estimate for PBPB’s fiscal 2024 EPS implies 33.3% growth on 6.5% lower revenues from the year-ago levels.
El Pollo Loco Holdings has a trailing four-quarter earnings surprise of 21.6%, on average. LOCO shares have gained 44.3% in the past year. The Zacks Consensus Estimate for LOCO’s fiscal 2024 sales and EPS indicates 2% and 12.7% growth, respectively, from the prior-year figures.
Zacks Investment Research
Wingstop (WING) closed the latest trading day at $395.54, indicating a +1.13% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1%.
The restaurant chain's shares have seen an increase of 3.75% over the last month, not keeping up with the Retail-Wholesale sector's gain of 7.86% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Wingstop will be of great interest to investors. On that day, Wingstop is projected to report earnings of $0.96 per share, which would represent year-over-year growth of 39.13%. Alongside, our most recent consensus estimate is anticipating revenue of $160.78 million, indicating a 37.3% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.77 per share and revenue of $625.74 million, which would represent changes of +52.02% and +36.01%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Wingstop. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.56% higher. Wingstop presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Wingstop is holding a Forward P/E ratio of 103.69. Its industry sports an average Forward P/E of 20.27, so one might conclude that Wingstop is trading at a premium comparatively.
One should further note that WING currently holds a PEG ratio of 3.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Retail - Restaurants industry held an average PEG ratio of 2.18.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Investment Research
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