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

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

Wall Street Analyst Weigh In

Several analysts have recently commented on WEN shares. TD Cowen upped their price objective on shares of Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Truist Financial increased their price target on Wendy’s from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Stephens reaffirmed an “equal weight” rating and set a $19.00 target price on shares of Wendy’s in a report on Thursday. Finally, BMO Capital Markets boosted their price target on Wendy’s from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wendy’s has an average rating of “Hold” and a consensus target price of $20.36.

Wendy’s Price Performance

Shares of WEN stock traded up $0.55 on Friday, reaching $19.66. 4,384,974 shares of the company were exchanged, compared to its average volume of 3,521,588. Wendy’s has a 1 year low of $15.61 and a 1 year high of $20.65. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17. The business has a 50-day moving average price of $18.03 and a 200 day moving average price of $17.72. The company has a market cap of $4.00 billion, a price-to-earnings 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. The company had revenue of $566.70 million during the quarter, compared to analyst estimates of $560.50 million. Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. Wendy’s’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. Equities research analysts forecast that Wendy’s will post 0.98 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.09%. Wendy’s’s payout ratio is currently 105.26%.

Insider Transactions at Wendy’s

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 value of $17,180,000.00. Following the completion of the sale, the director now owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.10% of the company’s stock.

About Wendy’s

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.