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

by · The Markets Daily

Wendy’s (NASDAQ:WEN – Get Free Report) 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

A number of equities analysts recently weighed in on WEN shares. Piper Sandler dropped their price target on Wendy’s from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus dropped their target price on shares of Wendy’s from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced 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 report on Friday, August 2nd. Barclays cut their target price on shares of Wendy’s from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial raised their target price on Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.36.

Read Our Latest Analysis on Wendy’s

Wendy’s Stock Up 2.9 %

WEN stock traded up $0.55 during trading hours on Friday, hitting $19.66. The company’s stock had a trading volume of 4,384,974 shares, compared to its average volume of 3,521,588. The company has a market capitalization of $4.00 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The stock has a 50 day moving average price of $18.03 and a two-hundred day moving average price of $17.72. The company has a quick ratio of 2.15, a current ratio of 2.17 and a debt-to-equity ratio of 12.01. Wendy’s has a 12 month low of $15.61 and a 12 month high of $20.65.

Wendy’s (NASDAQ:WEN – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The firm had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $560.50 million. During the same period in the prior year, the company posted $0.27 earnings per share. Wendy’s’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Wendy’s will post 0.98 earnings per share for the current year.

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 5.09%. The ex-dividend date of this dividend is Monday, December 2nd. Wendy’s’s payout ratio is 105.26%.

Insiders Place Their Bets

In related news, Director Matthew H. Peltz sold 1,000,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $256,728,745.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.10% of the company’s stock.

Wendy’s Company Profile

(Get Free Report)

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.

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