Wendy’s Co. (WEN) Upgraded by Vetr Inc. to Strong-Buy
Vetr upgraded shares of Wendy’s Co. (NASDAQ:WEN) from a buy rating to a strong-buy rating in a report issued on Wednesday morning. The firm currently has $14.24 target price on the stock.
Several other equities research analysts have also recently issued reports on WEN. Goldman Sachs Group Inc. cut Wendy’s from a conviction-buy rating to a buy rating and lowered their price objective for the stock from $12.50 to $11.00 in a report on Thursday, August 11th. JPMorgan Chase & Co. reiterated a hold rating and issued a $11.50 price objective on shares of Wendy’s in a report on Thursday, November 10th. Stifel Nicolaus cut Wendy’s from an outperform rating to a sector perform rating and lowered their target price for the stock from $12.00 to $11.00 in a report on Tuesday, August 2nd. RBC Capital Markets restated a sector perform rating and set a $11.00 target price on shares of Wendy’s in a report on Friday, November 11th. Finally, Royal Bank Of Canada cut Wendy’s from an outperform rating to a sector perform rating and lowered their target price for the stock from $12.00 to $11.00 in a report on Tuesday, August 2nd. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $12.29.
Shares of Wendy’s (NASDAQ:WEN) opened at 12.57 on Wednesday. Wendy’s has a one year low of $8.89 and a one year high of $13.16. The stock has a market capitalization of $3.23 billion, a P/E ratio of 18.27 and a beta of 0.79. The stock has a 50 day moving average price of $11.32 and a 200 day moving average price of $10.41.
Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Wendy’s had a return on equity of 16.62% and a net margin of 11.74%. The company had revenue of $364 million for the quarter, compared to analysts’ expectations of $350.35 million. During the same period in the previous year, the firm posted $0.09 EPS. Wendy’s’s revenue was down 21.7% compared to the same quarter last year. Equities analysts forecast that Wendy’s will post $0.41 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.065 dividend. This is a positive change from Wendy’s’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.26 dividend on an annualized basis and a yield of 2.07%. Wendy’s’s payout ratio is presently 38.24%.
Hedge funds have recently made changes to their positions in the stock. Seven Eight Capital LLC bought a new stake in Wendy’s during the second quarter worth $102,000. Laurion Capital Management LP bought a new stake in Wendy’s during the third quarter worth $122,000. Stephens Inc. AR raised its stake in Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock worth $120,000 after buying an additional 1,025 shares in the last quarter. LS Investment Advisors LLC raised its stake in Wendy’s by 67.1% in the second quarter. LS Investment Advisors LLC now owns 13,324 shares of the company’s stock worth $128,000 after buying an additional 5,350 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Wendy’s by 28.3% in the third quarter. World Asset Management Inc now owns 13,520 shares of the company’s stock worth $146,000 after buying an additional 2,984 shares in the last quarter. 84.91% of the stock is currently owned by institutional investors.
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.
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