Wendy’s (NASDAQ:WEN) Issues FY 2024 Earnings Guidance

Wendy’s (NASDAQ:WEN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.990-1.010 for the period, compared to the consensus EPS estimate of 0.990. The company issued revenue guidance of -. Wendy’s also updated its FY24 guidance to $0.99-$1.01 EPS.

Analyst Ratings Changes

Several analysts recently commented on WEN shares. Citigroup raised their price target on shares of Wendy’s from $18.00 to $18.75 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Loop Capital reiterated a “buy” rating and set a $26.00 price target on shares of Wendy’s in a research note on Monday, July 15th. Stifel Nicolaus cut their price target on shares of Wendy’s from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Tigress Financial reissued a “buy” rating and issued a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $19.00 price target on shares of Wendy’s in a research note on Thursday. 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.com, Wendy’s currently has a consensus rating of “Hold” and a consensus price target of $20.36.

Wendy’s Price Performance

Shares of NASDAQ WEN traded up $0.55 during mid-day trading on Friday, reaching $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 debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. Wendy’s has a 52 week low of $15.61 and a 52 week high of $20.65. The stock has a fifty day moving average of $18.03 and a two-hundred day moving average of $17.72. The firm has a market capitalization of $4.00 billion, a PE ratio of 20.69, a P/E/G ratio of 2.78 and a beta of 0.80.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The company had revenue of $566.70 million during the quarter, compared to analyst estimates of $560.50 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Wendy’s’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wendy’s will post 0.98 EPS for the current fiscal year.

Wendy’s Announces Dividend

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

Insider Activity

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the 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 transaction, the director now owns 14,943,466 shares of the company’s stock, valued at $256,728,745.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 17.10% of the company’s stock.

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.