RBC Capital Markets Reiterates “Sector Perform” Rating for Wendy’s Co. (WEN)
Wendy’s Co. (NASDAQ:WEN)‘s stock had its “sector perform” rating reiterated by equities research analysts at RBC Capital Markets in a research note issued to investors on Friday. They presently have a $11.00 price objective on the stock. RBC Capital Markets’ price target would indicate a potential downside of 5.98% from the stock’s current price.
A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $11.50 price target on shares of Wendy’s in a research note on Thursday, November 10th. Citigroup Inc. reissued a “buy” rating and set a $13.00 target price on shares of Wendy’s in a research note on Wednesday, October 5th. Zacks Investment Research raised Wendy’s from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, September 27th. Vetr downgraded Wendy’s from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a research note on Thursday, September 15th. Finally, Argus reissued a “hold” rating on shares of Wendy’s in a research note on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Wendy’s currently has an average rating of “Hold” and a consensus price target of $12.92.
Shares of Wendy’s (NASDAQ:WEN) opened at 11.70 on Friday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 17.01 and a beta of 0.79. The company has a 50 day moving average of $10.87 and a 200-day moving average of $10.32. Wendy’s has a 12 month low of $8.89 and a 12 month high of $11.73.
Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The business earned $364 million during the quarter, compared to the consensus estimate of $350.35 million. Wendy’s had a return on equity of 16.62% and a net margin of 11.74%. Wendy’s’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Analysts predict that Wendy’s will post $0.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Wendy’s’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, November 29th. Wendy’s’s dividend payout ratio is presently 35.29%.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Wendy’s by 1.0% in the first quarter. State Street Corp now owns 5,953,396 shares of the company’s stock worth $64,831,000 after buying an additional 61,200 shares during the last quarter. RS Investment Management Co. LLC boosted its position in Wendy’s by 87.2% in the second quarter. RS Investment Management Co. LLC now owns 3,276,030 shares of the company’s stock worth $31,515,000 after buying an additional 1,526,300 shares during the last quarter. Fort Pitt Capital Group LLC boosted its position in Wendy’s by 5.9% in the second quarter. Fort Pitt Capital Group LLC now owns 1,389,885 shares of the company’s stock worth $13,371,000 after buying an additional 77,157 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Wendy’s by 8.6% in the first quarter. TIAA CREF Investment Management LLC now owns 325,768 shares of the company’s stock worth $3,548,000 after buying an additional 25,672 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Wendy’s by 17.6% in the second quarter. Victory Capital Management Inc. now owns 43,587 shares of the company’s stock worth $419,000 after buying an additional 6,520 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Wendy’s Company Profile
The Wendy’s Company is the parent company of its subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant company specializing in the hamburger sandwich segment.
Receive News & Stock Ratings for Wendy's Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendy's Co. and related stocks with our FREE daily email newsletter.