Wendy’s Co. (WEN) Upgraded to Buy by Vetr Inc.
Vetr upgraded shares of Wendy’s Co. (NASDAQ:WEN) from a sell rating to a buy rating in a research note issued to investors on Wednesday. They currently have $12.62 price objective on the stock.
Other analysts also recently issued research reports about the stock. Goldman Sachs Group Inc. downgraded shares of Wendy’s from a conviction-buy rating to a buy rating and reduced their price objective for the stock from $12.50 to $11.00 in a research report on Thursday, August 11th. Citigroup Inc. reaffirmed a buy rating and set a $13.00 price objective on shares of Wendy’s in a research report on Wednesday, October 5th. Zacks Investment Research raised shares of Wendy’s from a hold rating to a buy rating and set a $12.00 price objective for the company in a research report on Tuesday, September 27th. Argus reaffirmed a hold rating on shares of Wendy’s in a research report on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. reaffirmed a hold rating and set a $11.50 price objective on shares of Wendy’s in a research report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $13.05.
Shares of Wendy’s (NASDAQ:WEN) traded up 2.035% during trading on Wednesday, reaching $12.285. 3,114,005 shares of the company were exchanged. The firm’s 50 day moving average price is $10.93 and its 200 day moving average price is $10.34. Wendy’s has a one year low of $8.89 and a one year high of $12.31. The company has a market capitalization of $3157.59 billion, a PE ratio of 18.900 and a beta of 0.79.
Wendy’s (NASDAQ:WEN) last released its earnings results on Wednesday, November 9th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.74% and a return on equity of 16.62%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Equities research analysts forecast that Wendy’s will post $0.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 29th. This is an increase from Wendy’s’s previous quarterly dividend of $0.06. Wendy’s’s dividend payout ratio (DPR) is 35.29%.
A number of hedge funds have recently added to or reduced their stakes in WEN. Seven Eight Capital LLC purchased a new stake in Wendy’s during the second quarter worth $102,000. Stephens Inc. AR increased its stake in shares of Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock valued at $120,000 after buying an additional 1,025 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Wendy’s during the third quarter valued at $122,000. LS Investment Advisors LLC increased its stake in shares of Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock valued at $128,000 after buying an additional 5,350 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Wendy’s by 31.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,805 shares of the company’s stock valued at $133,000 after buying an additional 3,321 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.
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.