Wendy’s (NASDAQ:WEN) Releases Quarterly Earnings Results, Meets Estimates

Wendy’s (NASDAQ:WEN) announced its quarterly earnings data on Thursday. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25, Briefing.com reports. The company had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $560.50 million. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. Wendy’s’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. 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 %

NASDAQ:WEN opened at $19.66 on Friday. The company has a market capitalization of $4.00 billion, a PE ratio of 20.69, a P/E/G ratio of 2.62 and a beta of 0.79. The company has a debt-to-equity ratio of 12.64, a current ratio of 2.10 and a quick ratio of 2.15. Wendy’s has a 1-year low of $15.61 and a 1-year high of $20.65. The firm’s 50-day moving average price is $18.03 and its 200-day moving average price is $17.72.

Wendy’s Announces Dividend

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

Insider Activity at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the completion of the sale, the director now directly owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WEN has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. BMO Capital Markets lifted their target price on shares of Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday. Morgan Stanley cut their price target on shares of Wendy’s from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Piper Sandler decreased their price objective on Wendy’s from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Tigress Financial restated a “buy” rating and set a $29.00 target price on shares of Wendy’s in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wendy’s currently has an average rating of “Hold” and an average price target of $20.36.

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.