Wedbush Comments on Wendys Co’s FY2018 Earnings (WEN)
Wendys Co (NASDAQ:WEN) – Equities researchers at Wedbush boosted their FY2018 earnings per share (EPS) estimates for shares of Wendys in a report issued on Wednesday, November 7th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $0.57 for the year, up from their previous forecast of $0.56. Wedbush has a “Buy” rating and a $20.00 price objective on the stock. Wedbush also issued estimates for Wendys’ Q3 2019 earnings at $0.17 EPS and Q4 2019 earnings at $0.17 EPS.
A number of other research firms have also recently issued reports on WEN. SunTrust Banks reissued a “buy” rating and set a $22.00 target price on shares of Wendys in a research note on Friday, August 17th. BidaskClub cut Wendys from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. KeyCorp initiated coverage on Wendys in a research note on Wednesday, October 3rd. They set a “sector weight” rating for the company. Mizuho set a $21.00 target price on Wendys and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, Morgan Stanley increased their target price on Wendys from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, August 17th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.56.
Wendys (NASDAQ:WEN) last announced its quarterly earnings results on Tuesday, November 6th. The restaurant operator reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $400.55 million during the quarter. Wendys had a return on equity of 23.36% and a net margin of 40.00%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.085 per share. The ex-dividend date is Friday, November 30th. This represents a $0.34 annualized dividend and a dividend yield of 1.91%. Wendys’s dividend payout ratio is currently 79.07%.
Several institutional investors and hedge funds have recently modified their holdings of WEN. Royal Bank of Canada grew its stake in shares of Wendys by 20.6% during the 1st quarter. Royal Bank of Canada now owns 42,357 shares of the restaurant operator’s stock worth $745,000 after acquiring an additional 7,245 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Wendys by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 786,597 shares of the restaurant operator’s stock worth $13,805,000 after acquiring an additional 38,697 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Wendys by 31.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 22,380 shares of the restaurant operator’s stock valued at $384,000 after buying an additional 5,410 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Wendys in the 2nd quarter valued at approximately $523,000. Finally, Bank of Montreal Can boosted its holdings in shares of Wendys by 31.1% in the 2nd quarter. Bank of Montreal Can now owns 139,510 shares of the restaurant operator’s stock valued at $2,397,000 after buying an additional 33,119 shares during the last quarter. 76.41% of the stock is owned by institutional investors.
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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