Wendy's (NASDAQ:WEN - Get Free Report) released its quarterly earnings data on Thursday. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02, Briefing.com reports. Wendy's had a net margin of 9.37% and a return on equity of 56.24%. The firm had revenue of $534.80 million during the quarter, compared to analysts' expectations of $540.84 million. During the same period last year, the business earned $0.21 earnings per share. Wendy's's revenue was up 1.1% compared to the same quarter last year. Wendy's updated its FY24 guidance to $0.98-1.02 EPS.
Wendy's Stock Up 0.1 %
Shares of NASDAQ:WEN traded up $0.02 during trading hours on Friday, reaching $19.94. The stock had a trading volume of 3,617,849 shares, compared to its average volume of 3,110,898. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.97 and a beta of 0.78. The firm's 50 day moving average is $18.77 and its 200-day moving average is $19.04. Wendy's has a 1 year low of $17.64 and a 1 year high of $23.90. The company has a debt-to-equity ratio of 10.66, a quick ratio of 2.18 and a current ratio of 2.19.
Wendy's Dividend Announcement
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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Monday, June 3rd. Wendy's's dividend payout ratio (DPR) is presently 102.04%.
Insider Transactions at Wendy's
In other news, Director Kenneth W. Gilbert sold 4,500 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $18.07, for a total transaction of $81,315.00. Following the completion of the transaction, the director now directly 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. Corporate insiders own 17.10% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on WEN. BMO Capital Markets raised their target price on Wendy's from $20.00 to $22.00 and gave the stock a "market perform" rating in a research note on Friday. Sanford C. Bernstein lowered shares of Wendy's from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $24.00 to $20.00 in a report on Thursday, February 22nd. JPMorgan Chase & Co. lowered shares of Wendy's from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Wednesday, February 21st. Citigroup boosted their price target on shares of Wendy's from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday. Finally, TD Cowen reaffirmed a "hold" rating and set a $19.00 price objective on shares of Wendy's in a research report on Friday. Fourteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.60.
Read Our Latest Stock Analysis on Wendy's
About Wendy's
(
Get Free Report)
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.
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