Wendy’s (NASDAQ:WEN) Posts Earnings Results, Meets Expectations

Wendy’s (NASDAQ:WENGet Free Report) posted its quarterly earnings results on Thursday. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25, Briefing.com reports. The company had revenue of $566.70 million for the quarter, compared to the consensus estimate of $560.50 million. Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. 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 traded up $0.55 during trading hours on Friday, hitting $19.66. 4,384,916 shares of the stock traded hands, compared to its average volume of 3,521,588. The firm 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 fifty-two week low of $15.61 and a fifty-two week high of $20.65. The company has a current ratio of 2.17, a quick ratio of 2.15 and a debt-to-equity ratio of 12.01. The firm has a 50 day moving average price of $17.92 and a 200 day moving average price of $17.71.

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend is Monday, December 2nd. Wendy’s’s payout ratio is 105.26%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WEN shares. Tigress Financial restated a “buy” rating and set a $29.00 price objective on shares of Wendy’s in a research report on Wednesday, September 4th. Truist Financial upped their target price on shares of Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised Wendy’s to a “strong-buy” rating in a research note on Friday, September 13th. Finally, Loop Capital reissued a “buy” rating and issued a $26.00 price target on shares of Wendy’s in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.36.

Read Our Latest Report on Wendy’s

Insider Buying and Selling

In other 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 value of $17,180,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 17.10% of the company’s stock.

About Wendy’s

(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.

See Also

Earnings History for Wendy's (NASDAQ:WEN)

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