Argus Upgrades Wendy’s Co. (WEN) to Buy
Wendy’s Co. (NASDAQ:WEN) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $15.00 price objective on the stock. Argus’ price objective indicates a potential upside of 15.47% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $13.00 target price on shares of Wendy’s in a research note on Wednesday, October 5th. Vetr raised shares of Wendy’s from a “sell” rating to a “buy” rating and set a $12.62 target price for the company in a research note on Wednesday, November 16th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $11.00 target price on shares of Wendy’s in a research note on Friday, November 11th. Zacks Investment Research raised shares of 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. Finally, Goldman Sachs Group Inc. downgraded shares of Wendy’s from a “conviction-buy” rating to a “buy” rating and decreased their target price for the company from $12.50 to $11.00 in a research note on Thursday, August 11th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.05.
Shares of Wendy’s (NASDAQ:WEN) opened at 12.94 on Friday. Wendy’s has a 12-month low of $8.89 and a 12-month high of $13.16. The company has a 50 day moving average of $11.32 and a 200-day moving average of $10.41. The company has a market cap of $3.33 billion, a PE ratio of 18.81 and a beta of 0.79.
Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. Wendy’s had a net margin of 11.74% and a return on equity of 16.62%. The company earned $364 million during the quarter, compared to the consensus estimate of $350.35 million. During the same period in the prior year, the firm earned $0.09 earnings per share. Wendy’s’s revenue was down 21.7% on a year-over-year basis. Equities research analysts anticipate that Wendy’s will post $0.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.26 annualized dividend and a yield of 2.00%. This is a boost from Wendy’s’s previous quarterly dividend of $0.06. Wendy’s’s dividend payout ratio (DPR) is currently 35.29%.
TRADEMARK VIOLATION WARNING: “Argus Upgrades Wendy’s Co. (WEN) to Buy” was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this article on another domain, it was copied illegally and reposted in violation of United States and international copyright legislation. The correct version of this article can be accessed at https://www.thecerbatgem.com/2016/11/29/argus-upgrades-wendys-co-wen-to-buy.html.
A number of large investors have recently modified their holdings of the company. Seven Eight Capital LLC bought a new stake in shares of Wendy’s during the second quarter valued at about $102,000. Stephens Inc. AR boosted 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 in the last quarter. Laurion Capital Management LP bought a new stake in shares of Wendy’s during the third quarter valued at about $122,000. LS Investment Advisors LLC boosted 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 in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted 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 in the last quarter. Institutional investors own 84.91% 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.