Wendy's (NASDAQ:WEN) Issues Quarterly Earnings Results

Wendy's (NASDAQ:WEN - Get Free Report) released its quarterly earnings results on Friday. The restaurant operator reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20, Zacks reports. Wendy's had a net margin of 8.65% and a return on equity of 75.56%. The business had revenue of $523.47 million for the quarter, compared to analysts' expectations of $530.11 million. During the same period in the prior year, the firm earned $0.23 earnings per share. Wendy's's revenue was down 2.1% compared to the same quarter last year.

Wendy's Trading Up 3.0 %

WEN stock traded up $0.35 during mid-day trading on Thursday, reaching $12.11. The company's stock had a trading volume of 2,623,167 shares, compared to its average volume of 4,281,863. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40. Wendy's has a 12 month low of $11.70 and a 12 month high of $20.60. The business's 50 day moving average price is $13.83 and its 200 day moving average price is $15.74. The company has a current ratio of 1.85, a quick ratio of 1.83 and a debt-to-equity ratio of 12.48.

Wendy's Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.14 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 4.62%. Wendy's's dividend payout ratio is currently 59.57%.

Analyst Upgrades and Downgrades

WEN has been the subject of a number of recent research reports. Royal Bank of Canada restated a "sector perform" rating and set a $17.00 target price on shares of Wendy's in a research report on Tuesday, March 4th. Barclays lowered their price target on shares of Wendy's from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Monday. Truist Financial dropped their target price on shares of Wendy's from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Monday. TD Securities reduced their price target on Wendy's from $14.00 to $13.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. Finally, Stephens reiterated an "equal weight" rating and issued a $14.00 price objective on shares of Wendy's in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wendy's has an average rating of "Hold" and a consensus target price of $16.34.

Insider Transactions at Wendy's

In other news, insider Abigail E. Pringle sold 136,819 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $12.81, for a total transaction of $1,752,651.39. Following the transaction, the insider now directly owns 203,005 shares of the company's stock, valued at $2,600,494.05. This represents a 40.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 17.00% of the company's stock.

About Wendy's

The Wendy's Co engages in operating, developing, and franchising a system of quick-service restaurants. It operates through the following segments: Wendy's U.S., Wendy's International, and Global Real Estate and Development. The Wendy's U.S. segment includes the operation and franchising of Wendy's restaurants in the U.S.