Yum China Q3 Earnings Surprise: KFC & Pizza Hut Power Earnings Beat, Reiterates Capex Plan To Open ~1,500-1,700 Net New Stores
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2024
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Source: Benzinga
Financial Performance: Yum China reported a 5% year-over-year revenue increase to $3.07 billion, with same-store sales at 97% of last year's level and digital sales reaching $2.61 billion, comprising about 90% of total sales.
Shareholder Returns and Future Plans: The company returned $248 million to shareholders through buybacks and dividends, raised its share repurchase authorization by $1 billion, and plans to open 1,500 to 1,700 new stores while increasing capital returns to shareholders from $3 billion to $4.5 billion between 2024 and 2026.
Analyst Views on ZIG
Wall Street analysts forecast ZIG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ZIG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 38.879
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Current: 38.879
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
