Oppenheimer Lowers EPS Outlook for Burger King (BKC)

Oppenheimer analysts Matthew DiFrisco, Rachel Schacter, and Jake Bartlett lowered EPS estimates for Burger King (NYSE: BKC).

"We are lowering F4Q10E, and FY10-11E EPS to $0.34, $1.35 and $1.44, respectively, from $0.36, $1.37 and $1.50," the analysts said.

BK is exiting Isreal, closing all 55 locations there. The analysts said, "While only a fraction of BKC's store base, the closures highlight the risks of international expansion and the difficulty of competing against MCD."

BK's recent Rib promotion sold out 10 million ribs.

Burger King is currently rated Market Perform.