Wendy's (NASDAQ:WEN) Releases FY 2024 Earnings Guidance

Wendy's (NASDAQ:WEN - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.980-1.020 for the period, compared to the consensus estimate of 0.990. The company issued revenue guidance of -.

Wendy's Stock Performance

NASDAQ:WEN traded up $0.02 on Friday, hitting $19.94. The stock had a trading volume of 3,617,849 shares, compared to its average volume of 3,110,898. The business's 50-day simple moving average is $18.77 and its two-hundred day simple moving average is $19.04. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78. Wendy's has a 52-week low of $17.64 and a 52-week high of $23.90. The company has a quick ratio of 2.18, a current ratio of 2.19 and a debt-to-equity ratio of 10.66.

Wendy's (NASDAQ:WEN - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $534.80 million for the quarter, compared to analysts' expectations of $540.84 million. Wendy's had a net margin of 9.37% and a return on equity of 56.24%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. As a group, research analysts predict that Wendy's will post 0.99 earnings per share for the current year.

Wendy's Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, June 3rd. Wendy's's payout ratio is 102.04%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank of Canada lowered their target price on Wendy's from $22.00 to $20.00 and set a sector perform rating on the stock in a research report on Tuesday, February 20th. TD Cowen reissued a hold rating and issued a $19.00 target price on shares of Wendy's in a report on Friday. Truist Financial decreased their target price on shares of Wendy's from $23.00 to $22.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. Sanford C. Bernstein lowered shares of Wendy's from an outperform rating to a market perform rating and dropped their price target for the stock from $24.00 to $20.00 in a research report on Thursday, February 22nd. Finally, Stephens restated an equal weight rating and set a $20.00 price objective on shares of Wendy's in a research report on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $22.60.

Insider Buying and Selling at Wendy's

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $18.07, for a total value of $81,315.00. Following the sale, the director now owns 31,304 shares in the company, valued at $565,663.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.10% of the stock is currently owned by company 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.