Wendy’s (NASDAQ:WEN) Updates FY 2024 Earnings Guidance

Wendy’s (NASDAQ:WEN) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.990-1.010 for the period, compared to the consensus estimate of 0.990. The company issued revenue guidance of -. Wendy’s also updated its FY24 guidance to $0.99-$1.01 EPS.

Wendy’s Stock Up 2.9 %

Shares of WEN opened at $19.66 on Friday. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.62 and a beta of 0.79. Wendy’s has a 52 week low of $15.61 and a 52 week high of $20.65. The stock’s 50-day moving average price is $18.03 and its 200-day moving average price is $17.72. The company has a quick ratio of 2.15, a current ratio of 2.10 and a debt-to-equity ratio of 12.64.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings data on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. The business had revenue of $566.70 million for the quarter, compared to analyst estimates of $560.50 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Wendy’s will post 0.98 EPS for the current year.

Wendy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.09%. Wendy’s’s dividend payout ratio (DPR) is currently 105.26%.

Wall Street Analyst Weigh In

WEN has been the topic of a number of analyst reports. TD Cowen raised their target price on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Barclays dropped their price objective on Wendy’s from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Tigress Financial reissued a “buy” rating and issued a $29.00 price target on shares of Wendy’s in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on shares of Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Wolfe Research upgraded shares of Wendy’s to a “strong-buy” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wendy’s has a consensus rating of “Hold” and an average target price of $20.36.

Insider Activity

In related news, Director Matthew H. Peltz sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the completion of the sale, the director now directly owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.10% of the company’s stock.

About Wendy’s

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.