Wendy’s (NASDAQ:WEN) Issues Earnings Results

Wendy’s (NASDAQ:WEN) issued its earnings results on Thursday. The restaurant operator reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25, Briefing.com reports. Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The business had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. During the same period in the previous year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Wendy’s updated its FY 2024 guidance to 0.990-1.010 EPS and its FY24 guidance to $0.99-$1.01 EPS.

Wendy’s Trading Up 2.9 %

Shares of WEN stock traded up $0.55 during trading on Friday, hitting $19.66. 4,384,974 shares of the stock traded hands, compared to its average volume of 3,521,588. The firm has a market capitalization of $4.00 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. The firm’s fifty day moving average price is $18.03 and its 200-day moving average price is $17.72. Wendy’s has a 52-week low of $15.61 and a 52-week high of $20.65.

Wendy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Monday, December 2nd. Wendy’s’s dividend payout ratio (DPR) is 105.26%.

Analyst Ratings Changes

WEN has been the topic of several analyst reports. Stephens reaffirmed an “equal weight” rating and set a $19.00 target price on shares of Wendy’s in a research report on Thursday. Truist Financial boosted their price objective on Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital restated a “buy” rating and issued a $26.00 target price on shares of Wendy’s in a research note on Monday, July 15th. Piper Sandler cut their price objective on Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, TD Cowen upped their price objective on Wendy’s from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $17.18, for a total value of $17,180,000.00. Following the completion of the transaction, the director now owns 14,943,466 shares in the company, valued at $256,728,745.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.10% of the stock is owned by corporate insiders.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.