Wendy’s (NASDAQ:WEN) Releases FY24 Earnings Guidance

Wendy’s (NASDAQ:WEN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.98-1.02 for the period, compared to the consensus estimate of $1.00.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research note on Friday. Wedbush upped their price objective on shares of Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research note on Friday. Stephens reiterated an equal weight rating and issued a $20.00 price objective on shares of Wendy’s in a research note on Thursday. Gordon Haskett lowered shares of Wendy’s from a buy rating to a hold rating and set a $21.00 price objective on the stock. in a research note on Tuesday, January 16th. Finally, Citigroup increased their price target on shares of Wendy’s from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $22.60.

Wendy’s Stock Performance

Shares of NASDAQ WEN traded up $0.02 during trading hours on Friday, hitting $19.94. 3,617,900 shares of the stock were exchanged, compared to its average volume of 3,569,258. The company has a debt-to-equity ratio of 11.21, a current ratio of 2.04 and a quick ratio of 2.18. Wendy’s has a one year low of $17.64 and a one year high of $23.90. The company’s 50 day moving average is $18.80 and its 200 day moving average is $19.05. The firm has a market capitalization of $4.09 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.01 and a beta of 0.78.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $534.80 million for the quarter, compared to analyst estimates of $540.84 million. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. On average, research analysts expect that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 5.02%. Wendy’s’s dividend payout ratio (DPR) is 101.01%.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the completion of the transaction, the director now owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 17.10% of the company’s stock.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.