Shares of The Wendy’s Company (NASDAQ:WEN – Get Free Report) have received a consensus rating of “Reduce” from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.69.
Several equities research analysts have commented on WEN shares. Citigroup upped their price objective on Wendy’s from $8.00 to $8.25 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Guggenheim reaffirmed a “neutral” rating on shares of Wendy’s in a report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Wendy’s in a report on Thursday. Morgan Stanley set a $5.50 price objective on Wendy’s in a research report on Monday, August 10th. Finally, UBS Group restated a “neutral” rating and set a $8.00 price target on shares of Wendy’s in a research report on Monday, August 10th.
View Our Latest Report on Wendy’s
Wendy’s Stock Down 0.3%
Shares of WEN opened at $6.68 on Tuesday. Wendy’s has a 52 week low of $5.94 and a 52 week high of $10.12. The company has a quick ratio of 1.88, a current ratio of 1.90 and a debt-to-equity ratio of 27.95. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.68 and a beta of 0.40. The stock’s 50-day moving average price is $7.40 and its 200-day moving average price is $7.35.
Wendy’s (NASDAQ:WEN – Get Free Report) last posted its earnings results on Friday, August 7th. The restaurant operator reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $570.57 million for the quarter, compared to analyst estimates of $557.13 million. Wendy’s had a return on equity of 115.31% and a net margin of 5.72%. Wendy’s’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. On average, sell-side analysts predict that Wendy’s will post 0.49 EPS for the current year.
Wendy’s Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.28 annualized dividend and a yield of 4.2%. This is a drop from Wendy’s’s previous quarterly dividend of $0.14. Wendy’s’s dividend payout ratio is currently 42.42%.
Institutional Trading of Wendy’s
Several large investors have recently added to or reduced their stakes in the stock. Trian Fund Management L.P. purchased a new stake in Wendy’s in the second quarter valued at $252,583,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Wendy’s in the first quarter valued at approximately $26,062,000. Renaissance Technologies LLC grew its stake in shares of Wendy’s by 2,612.4% in the first quarter. Renaissance Technologies LLC now owns 2,340,282 shares of the restaurant operator’s stock worth $16,265,000 after acquiring an additional 2,254,000 shares in the last quarter. Jupiter Topco LLC acquired a new position in Wendy’s during the 2nd quarter worth $12,675,000. Finally, Bank of America Corp DE increased its stake in shares of Wendy’s by 5.6% during the first quarter. Bank of America Corp DE now owns 4,493,752 shares of the restaurant operator’s stock worth $31,232,000 after buying an additional 236,541 shares during the period. 85.96% of the stock is currently owned by hedge funds and other institutional investors.
About Wendy’s
Wendy’s Co (NASDAQ: WEN) operates and franchises the Wendy’s quick-service restaurant chain. Its menu primarily features hamburgers made with fresh, never-frozen beef, along with chicken sandwiches, nuggets, salads, french fries, breakfast items, beverages and the signature Frosty dessert.
Founded by Dave Thomas in Columbus, Ohio, in 1969, Wendy’s has grown into an international restaurant brand. The company serves customers through a network of company-operated and franchised restaurants, with a significant presence in the United States and additional locations in international markets.
In addition to restaurant sales, Wendy’s supports ordering through digital channels, including its mobile application and website, as well as delivery services.
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