By Mark Kalinowski
Published on April 29, 2020 at 12:00 AM
Yum Brands (YUM; Neutral, $88.27) reported adjusted Q1 EPS of $0.64 — ahead of our $0.50 forecast, and a little short of sell-side consensus (according to Consensus Metrix) of $0.66. Yum notes that its investment in Grubhub (GRUB; Not Rated) cost it -6 cents of EPS in Q1.
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By Mark Kalinowski
Published on October 10, 2019 at 12:00 AM
With this report, we upgrade the shares of Dine Brands (DIN) to Buy (from Neutral), as we believe the risk/reward has shifted in favor of longs with the shares having fallen from $94.35 as of June 27th to $68.65 (-27%) as of yesterday’s (October 9th’s) closing price.
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By Mark Kalinowski
Published on August 29, 2019 at 12:00 AM
Given weaker-than-expected same-store sales trends in the family-dining and casualdining sector quarter-to-date, we lower our Q3E same-store sales forecasts for IHOP and Applebee’s (both owned by Dine Brands [DIN; Neutral]). For IHOP, our Q3E samestore sales estimate is reduced by -140 basis points, to +0.8%, which becomes the new “low on the sell-side” forecast, according to Consensus Metrix data. For Applebee’s, we take down our Q3E projection by -150 basis points, to -1.5%, as compared to current sell-side consensus of -1.2%.
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