Wendy’s (NASDAQ:WEN) Issues FY24 Earnings Guidance

Wendy’s (NASDAQ:WEN) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.99-$1.01 for the period, compared to the consensus EPS estimate of $0.99. Wendy’s also updated its FY 2024 guidance to 0.990-1.010 EPS.

Wall Street Analysts Forecast Growth

WEN has been the subject of several research reports. Stephens reissued an “equal weight” rating and issued a $19.00 price objective on shares of Wendy’s in a research report on Thursday. Loop Capital reissued a “buy” rating and issued a $26.00 price target on shares of Wendy’s in a report on Monday, July 15th. Barclays dropped their price objective on shares of Wendy’s from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Truist Financial reduced their target price on shares of Wendy’s from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Wedbush reissued a “neutral” rating and set a $19.50 target price on shares of Wendy’s in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wendy’s has a consensus rating of “Hold” and a consensus price target of $20.22.

Wendy’s Stock Down 3.4 %

NASDAQ:WEN opened at $19.62 on Thursday. The stock’s fifty day moving average price is $17.92 and its two-hundred day moving average price is $17.71. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 2.47 and a beta of 0.80. Wendy’s has a 52-week low of $15.61 and a 52-week high of $20.65. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, August 1st. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $570.73 million for the quarter, compared to the consensus estimate of $577.15 million. Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. On average, analysts anticipate that Wendy’s will post 0.98 EPS for the current year.

Wendy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.10%. Wendy’s’s payout ratio is currently 101.01%.

Insider Activity at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of Wendy’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the transaction, the director now directly owns 14,943,466 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 17.10% of the company’s stock.

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.