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 Stock Performance

Shares of WEN stock opened at $19.66 on Friday. Wendy’s has a one year low of $15.61 and a one year high of $20.65. The company has a debt-to-equity ratio of 12.64, a quick ratio of 2.15 and a current ratio of 2.10. The firm’s 50 day moving average price is $18.03 and its 200-day moving average price is $17.72. The firm has a market cap of $4.00 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.62 and a beta of 0.79.

Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. Wendy’s had a return on equity of 70.02% and a net margin of 8.76%. The company had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $560.50 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Wendy’s will post 0.98 EPS for the current year.

Wendy’s Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Loop Capital reissued a “buy” rating and set a $26.00 price target on shares of Wendy’s in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their target price on shares of Wendy’s from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Stifel Nicolaus dropped their price target on shares of Wendy’s from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Truist Financial increased their price objective on Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. Finally, Tigress Financial reiterated a “buy” rating and issued a $29.00 target price on shares of Wendy’s in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.36.

Insider Buying and Selling at Wendy’s

In other news, Director Matthew H. Peltz sold 1,000,000 shares of Wendy’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $17.18, for a total transaction of $17,180,000.00. Following the sale, the director now owns 14,943,466 shares in the company, valued at approximately $256,728,745.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.10% of the stock is currently owned by insiders.

Wendy’s Company Profile

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.