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 Trading Up 2.9 %

Wendy’s stock traded up $0.55 during midday trading on Friday, reaching $19.66. The stock had a trading volume of 4,384,974 shares, compared to its average volume of 3,521,588. The firm’s fifty day simple moving average is $18.03 and its two-hundred day simple moving average is $17.72. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. Wendy’s has a twelve month low of $15.61 and a twelve month high of $20.65. The firm 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.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates 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 return on equity of 67.74% and a net margin of 9.18%. Wendy’s’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities analysts anticipate that Wendy’s will post 0.98 EPS for the current fiscal year.

Wendy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date 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 is 105.26%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Wendy’s from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. TD Cowen lifted their price objective on Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. BMO Capital Markets upped their target price on Wendy’s from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Piper Sandler cut their price target on Wendy’s from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.36.

Insiders Place Their Bets

In other 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 sale, the director now directly owns 14,943,466 shares of the company’s stock, valued at approximately $256,728,745.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.