Wendy’s (NASDAQ:WEN – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.980-1.020 for the period, compared to the consensus estimate of 0.990. The company issued revenue guidance of -. Wendy’s also updated its FY24 guidance to $0.98-1.02 EPS.
Analysts Set New Price Targets
A number of research firms have recently weighed in on WEN. Wedbush reiterated a neutral rating and issued a $19.50 target price on shares of Wendy’s in a research note on Thursday. TD Cowen lowered their target price on shares of Wendy’s from $19.00 to $17.00 and set a hold rating for the company in a research note on Wednesday, July 17th. Stephens reiterated an equal weight rating and issued a $20.00 target price on shares of Wendy’s in a research note on Thursday. Loop Capital reissued a buy rating and set a $26.00 price target on shares of Wendy’s in a research report on Monday, July 15th. Finally, Citigroup raised their price target on shares of Wendy’s from $20.00 to $21.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $21.03.
Read Our Latest Analysis on WEN
Wendy’s Stock Down 1.9 %
Wendy’s (NASDAQ:WEN – Get Free Report) last released its earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, research analysts expect that Wendy’s will post 0.99 EPS for the current fiscal year.
Insider Activity
In other news, CMO Juan Carlos Loredo sold 44,806 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $19.50, for a total value of $873,717.00. Following the completion of the sale, the chief marketing officer now directly owns 27,586 shares of the company’s stock, valued at $537,927. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.
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