Wendys Co (NASDAQ:WEN) – Wedbush boosted their FY2019 earnings per share estimates for Wendys in a report issued on Wednesday, November 6th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $0.61 per share for the year, up from their prior forecast of $0.57. Wedbush currently has a “Neutral” rating and a $22.00 target price on the stock. Wedbush also issued estimates for Wendys’ Q2 2020 earnings at $0.17 EPS, Q3 2020 earnings at $0.18 EPS, FY2020 earnings at $0.63 EPS, Q1 2021 earnings at $0.15 EPS, Q2 2021 earnings at $0.22 EPS and FY2021 earnings at $0.80 EPS.
Other analysts have also issued research reports about the company. KeyCorp reiterated a “hold” rating on shares of Wendys in a research note on Tuesday, October 15th. Telsey Advisory Group increased their target price on Wendys from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. ValuEngine upgraded Wendys from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Co increased their target price on Wendys from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Finally, Goldman Sachs Group initiated coverage on Wendys in a research note on Monday, July 29th. They issued a “sell” rating and a $17.50 target price on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. Wendys presently has an average rating of “Hold” and a consensus price target of $21.70.
NASDAQ:WEN opened at $20.66 on Monday. The stock’s fifty day moving average is $20.76 and its 200 day moving average is $19.86. Wendys has a fifty-two week low of $14.96 and a fifty-two week high of $22.84. The firm has a market capitalization of $4.75 billion, a PE ratio of 35.02, a PEG ratio of 3.09 and a beta of 0.67. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.99 and a current ratio of 2.00.
Wendys (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Wendys had a return on equity of 24.72% and a net margin of 7.69%. The company had revenue of $437.88 million for the quarter, compared to analyst estimates of $434.45 million. During the same quarter in the prior year, the firm posted $0.17 EPS. Wendys’s quarterly revenue was up 9.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.12 per share. This is an increase from Wendys’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.32%. Wendys’s dividend payout ratio is presently 67.80%.
In other news, insider E.J. Wunsch sold 3,694 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $20.51, for a total transaction of $75,763.94. Following the transaction, the insider now owns 52,449 shares of the company’s stock, valued at approximately $1,075,728.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $19.90, for a total value of $9,452,500.00. Following the transaction, the insider now directly owns 5,444,270 shares in the company, valued at approximately $108,340,973. The disclosure for this sale can be found here. Insiders have sold a total of 2,478,694 shares of company stock worth $49,468,264 in the last three months. Corporate insiders own 20.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Coastal Capital Group Inc. bought a new position in shares of Wendys during the 2nd quarter worth $30,000. Coastal Investment Advisors Inc. grew its position in shares of Wendys by 116.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,817 shares of the restaurant operator’s stock worth $36,000 after buying an additional 978 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Wendys by 65.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,151 shares of the restaurant operator’s stock worth $43,000 after buying an additional 849 shares in the last quarter. Carroll Financial Associates Inc. grew its position in shares of Wendys by 226.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,831 shares of the restaurant operator’s stock worth $75,000 after buying an additional 2,658 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Wendys during the 2nd quarter worth $99,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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