The Wendy’s Company (NASDAQ:WEN) – Investment analysts at KeyCorp lowered their Q3 2021 EPS estimates for The Wendy’s in a note issued to investors on Wednesday, May 12th. KeyCorp analyst E. Gonzalez now expects that the restaurant operator will earn $0.19 per share for the quarter, down from their prior forecast of $0.20. KeyCorp also issued estimates for The Wendy’s’ Q1 2022 earnings at $0.20 EPS, Q3 2022 earnings at $0.22 EPS, Q4 2022 earnings at $0.20 EPS and Q4 2022 earnings at $0.20 EPS.
Several other equities analysts also recently commented on WEN. Cleveland Research assumed coverage on shares of The Wendy’s in a report on Thursday, March 18th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Wendy’s from a “hold” rating to a “buy” rating and upped their price objective for the company from $23.00 to $25.00 in a report on Wednesday, January 27th. Royal Bank of Canada upped their price objective on shares of The Wendy’s from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Thursday. Argus restated a “hold” rating on shares of The Wendy’s in a research note on Monday, March 29th. Finally, The Goldman Sachs Group assumed coverage on shares of The Wendy’s in a research note on Tuesday, January 19th. They issued a “neutral” rating and a $23.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The Wendy’s currently has an average rating of “Buy” and a consensus target price of $25.50.
The Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Wednesday, May 12th. The restaurant operator reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The Wendy’s had a net margin of 6.70% and a return on equity of 21.11%. The firm had revenue of $460.20 million for the quarter, compared to analyst estimates of $443.02 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. This is an increase from The Wendy’s’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, May 28th. The Wendy’s’s dividend payout ratio is presently 61.02%.
In related news, insider E.J. Wunsch bought 7,500 shares of the company’s stock in a transaction dated Friday, March 5th. The stock was purchased at an average price of $18.98 per share, with a total value of $142,350.00. Following the completion of the acquisition, the insider now owns 80,477 shares of the company’s stock, valued at $1,527,453.46. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 20.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of WEN. BNP Paribas Arbitrage SA lifted its holdings in shares of The Wendy’s by 14,248.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,512,480 shares of the restaurant operator’s stock worth $50,903,000 after acquiring an additional 2,494,970 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Wendy’s by 86.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,948,317 shares of the restaurant operator’s stock worth $100,253,000 after acquiring an additional 2,290,945 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of The Wendy’s by 273.0% in the first quarter. Renaissance Technologies LLC now owns 2,329,382 shares of the restaurant operator’s stock worth $47,193,000 after acquiring an additional 1,704,900 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of The Wendy’s by 10.1% in the fourth quarter. BlackRock Inc. now owns 18,488,622 shares of the restaurant operator’s stock worth $405,271,000 after acquiring an additional 1,696,520 shares during the last quarter. Finally, Norges Bank bought a new position in shares of The Wendy’s in the fourth quarter worth about $32,083,000. 69.37% of the stock is owned by hedge funds and other institutional investors.
About The Wendy’s
The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.
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