Quick service restaurant operator Yum! Brands, Inc. (
) late Wednesday said its first quarter profit jumped more than 10%
from last year, helped by higher sales and better margins.
The Louisville, KY-based company reported first quarter net
income of $241 million, or 50 cents per share, compared with $218
million, or 46 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 59 cents per share.
Revenue rose 6% from last year, to $2.35 billion.
On average, Wall Street analysts expected a smaller profit of 53
cents per share, on lower revenue of $2.28 billion.
Yum! Brands shares rose 82 cents, or +2%, in premarket trading
The Bottom Line
The company has a 2.02% dividend yield, based on last night's
closing stock price of $41.68. The stock has technical support in
the $36-$38 price area. If the shares can firm up, we see overhead
resistance around the all-time high levels of $42 a share. We would
remain on the sidelines for now.
Yum! Brands, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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