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

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

Analyst Ratings Changes

A number of analysts have commented on the company. Loop Capital reiterated a “buy” rating and issued a $26.00 price objective on shares of Wendy’s in a research report on Monday, July 15th. TD Cowen lifted their price target on shares of Wendy’s from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Piper Sandler lowered their price target on shares of Wendy’s from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, Tigress Financial reissued a “buy” rating and issued a $29.00 target price on shares of Wendy’s in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.36.

Wendy’s Price Performance

Wendy’s stock traded up $0.55 on Friday, reaching $19.66. The company’s stock had a trading volume of 4,384,974 shares, compared to its average volume of 3,521,588. Wendy’s has a twelve month low of $15.61 and a twelve month high of $20.65. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.78 and a beta of 0.80. The company has a debt-to-equity ratio of 12.01, a quick ratio of 2.15 and a current ratio of 2.17. The business’s fifty day moving average price is $18.03 and its 200 day moving average price is $17.72.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $566.70 million for the quarter, compared to the consensus estimate of $560.50 million. Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Equities analysts expect that Wendy’s will post 0.98 earnings per share for the current fiscal year.

Wendy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Monday, December 2nd. Wendy’s’s dividend payout ratio is currently 105.26%.

Insider Buying and Selling

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 stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the transaction, the director now owns 14,943,466 shares in the company, valued at $256,728,745.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by corporate insiders.

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.