Singapore markets open in 5 hours 57 minutes
  • Straits Times Index

    3,225.35
    +23.46 (+0.73%)
     
  • S&P 500

    3,925.47
    -163.38 (-4.00%)
     
  • Dow

    31,503.07
    -1,151.52 (-3.53%)
     
  • Nasdaq

    11,422.01
    -562.52 (-4.69%)
     
  • BTC-USD

    29,204.05
    -602.78 (-2.02%)
     
  • CMC Crypto 200

    652.71
    -17.97 (-2.68%)
     
  • FTSE 100

    7,438.09
    -80.26 (-1.07%)
     
  • Gold

    1,816.70
    -2.20 (-0.12%)
     
  • Crude Oil

    108.90
    -3.50 (-3.11%)
     
  • 10-Yr Bond

    2.8970
    -0.0710 (-2.39%)
     
  • Nikkei

    26,911.20
    +251.45 (+0.94%)
     
  • Hang Seng

    20,644.28
    +41.76 (+0.20%)
     
  • FTSE Bursa Malaysia

    1,554.91
    +6.31 (+0.41%)
     
  • Jakarta Composite Index

    6,793.41
    +148.95 (+2.24%)
     
  • PSE Index

    6,727.60
    +132.94 (+2.02%)
     

Dine Brands (DIN) Inks Deal to Open IHOP Restaurant in Caribbean

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Dine Brands Global, Inc. DIN recently reached an agreement with Bahamas Limited for the first IHOP location in Nassau, the Bahamas.

The IHOP location in Nassau is expected to open in late 2022. Over the next few years, the company plans to open 16 IHOP restaurants in the Caribbean.

William Urrego, regional VP of franchise operations, Dine Brands said “The Caribbean is an important growth market for Dine Brands, and The Providence’s well-developed tourism infrastructure and recent large-scale hotel and resort investments, as well as shopping center developments, help position it as the perfect location for IHOP’s first restaurant in the Island.”

In an effort to drive growth, the company continues to focus on expanding its presence in markets like North America, the Middle East, Asia, and Latin America. In August 2021, the company announced a collaboration with a Toronto-based investment company — K2 Group — for the development of IHOP non-traditional restaurants in Ontario, Canada.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Stock Performance

In the past year, the company’s shares have gained 3%, compared with the industry’s rally of 8.3%. Although the company’s shares have underperformed the industry in the past year, it is likely to benefit from expansion efforts in the days ahead. The company is optimistic on the back of its new approach to marketing, the launch of a loyalty program, technological developments and virtual brands.

Currently, Dine Brands carries a Zacks Rank #3 (Hold).

Key Picks

Some better-ranked stocks in the same space include Chuy's Holdings, Inc. CHUY, Arcos Dorados Holdings Inc. ARCO and First Watch Restaurant Group, Inc. FWRG.

Chuy's Holdings currently carries a Zacks Rank #2 (Buy). CHUY reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 52.7%. Shares of CHUY have gained 4.9% in the past month.

The Zacks Consensus Estimate for Chuy's Holdings current financial-year sales and EPS suggests growth of 23.8% and 115.5%, respectively, from the year-ago period’s levels. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Arcos Dorados carries a Zacks Rank #1. ARCO has long-term earnings growth of 42.9%. Shares of the company have increased 13.2% in the past three months.

The Zacks Consensus Estimate for Arcos Dorados’ current financial-year sales and EPS suggests growth of 31% and 112.5%, respectively, from the year-ago period’s levels.

First Watch Restaurant Group carries a Zacks Rank #2. FWRG has long-term earnings growth of 15%. Shares of the company have decreased15.3% in the past month.

The Zacks Consensus Estimate for First Watch Restaurant Group next financial-year sales and EPS suggests growth of 13.5% and 336.7%, respectively, from the year-ago period’s levels.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

DINE BRANDS GLOBAL, INC. (DIN) : Free Stock Analysis Report

Chuy's Holdings, Inc. (CHUY) : Free Stock Analysis Report

Arcos Dorados Holdings Inc. (ARCO) : Free Stock Analysis Report

First Watch Restaurant Group, Inc. (FWRG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting