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

Wendy’s (NASDAQ:WEN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.98-1.02 for the period, compared to the consensus estimate of $1.00.

Analyst Ratings Changes

A number of research firms recently commented on WEN. Piper Sandler boosted their price target on Wendy’s from $21.00 to $23.00 and gave the company an overweight rating in a research note on Friday. Gordon Haskett lowered shares of Wendy’s from a buy rating to a hold rating and set a $21.00 price target on the stock. in a research report on Tuesday, January 16th. Royal Bank of Canada lowered their price objective on shares of Wendy’s from $22.00 to $20.00 and set a sector perform rating for the company in a research report on Tuesday, February 20th. Truist Financial reduced their target price on Wendy’s from $23.00 to $22.00 and set a buy rating on the stock in a report on Tuesday, February 20th. Finally, TD Cowen reiterated a hold rating and issued a $19.00 price target on shares of Wendy’s in a research note on Friday. Fourteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $22.60.

Wendy’s Stock Up 0.1 %

Wendy’s stock traded up $0.02 during midday trading on Friday, reaching $19.94. The stock had a trading volume of 3,617,900 shares, compared to its average volume of 3,569,258. The company has a fifty day moving average price of $18.80 and a two-hundred day moving average price of $19.05. The company has a market capitalization of $4.09 billion, a P/E ratio of 20.14, a PEG ratio of 2.01 and a beta of 0.78. The company has a current ratio of 2.04, a quick ratio of 2.18 and a debt-to-equity ratio of 11.21. Wendy’s has a 12 month low of $17.64 and a 12 month high of $23.90.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The business had revenue of $534.80 million during the quarter, compared to analyst estimates of $540.84 million. During the same quarter in the previous year, the business posted $0.21 EPS. Wendy’s’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Wendy’s will post 0.99 EPS for the current fiscal year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 5.02%. Wendy’s’s dividend payout ratio (DPR) is currently 101.01%.

Insiders Place Their Bets

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $18.07, for a total value of $81,315.00. Following the completion of the sale, the director now directly owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.