Wendy’s (NASDAQ:WEN) Announces Quarterly Earnings Results

Wendy’s (NASDAQ:WEN) issued its quarterly earnings data on Thursday. The restaurant operator reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25, Briefing.com reports. Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The business had revenue of $566.70 million during the quarter, compared to the consensus estimate of $560.50 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. 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 Stock Up 2.9 %

Shares of WEN stock traded up $0.55 on Friday, reaching $19.66. 4,382,282 shares of the company were exchanged, compared to its average volume of 3,521,575. 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 company has a 50-day moving average of $17.92 and a 200-day moving average of $17.71. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.78 and a beta of 0.80. Wendy’s has a one year low of $15.61 and a one year high of $20.65.

Wendy’s Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 5.09%. The ex-dividend date is Monday, December 2nd. Wendy’s’s dividend payout ratio (DPR) is currently 105.26%.

Analysts Set New Price Targets

Several research firms have commented on WEN. Tigress Financial reiterated a “buy” rating and issued a $29.00 target price on shares of Wendy’s in a research report on Wednesday, September 4th. Morgan Stanley reduced their target price on shares of Wendy’s from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Truist Financial boosted their price objective on shares of Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Loop Capital reaffirmed a “buy” rating and set a $26.00 target price on shares of Wendy’s in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.36.

Insider Buying and Selling

In related news, Director Matthew H. Peltz sold 1,000,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the transaction, the director now directly owns 14,943,466 shares in the company, valued at $256,728,745.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is owned by company insiders.

About Wendy’s

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.