Wendys Co (NASDAQ:WEN) – Equities researchers at Wedbush upped their Q3 2018 earnings estimates for shares of Wendys in a research note issued to investors on Wednesday, Zacks Investment Research reports. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $0.15 per share for the quarter, up from their previous estimate of $0.12. Wedbush currently has a “Outperform” rating and a $20.00 price objective on the stock. Wedbush also issued estimates for Wendys’ FY2018 earnings at $0.64 EPS.
Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). The firm had revenue of $308.00 million during the quarter. Wendys had a net margin of 5.20% and a return on equity of 20.35%. The company’s revenue was down 15.4% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share.
A number of other research analysts have also commented on WEN. Longbow Research raised Wendys from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.23 to $18.00 in a report on Friday, September 15th. BMO Capital Markets lowered their price target on Wendys from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Stifel Nicolaus initiated coverage on Wendys in a research note on Monday, October 2nd. They set a “buy” rating and a $18.00 target price for the company. Morgan Stanley raised their target price on Wendys from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, November 9th. Finally, SunTrust Banks raised their target price on Wendys to $22.00 in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Wendys has an average rating of “Hold” and a consensus target price of $16.84.
Wendys (NASDAQ WEN) traded down $0.01 during trading on Monday, hitting $17.33. The stock had a trading volume of 8,177,800 shares, compared to its average volume of 4,060,500. Wendys has a 12 month low of $13.03 and a 12 month high of $17.66. The company has a debt-to-equity ratio of 5.83, a quick ratio of 1.78 and a current ratio of 1.80. The stock has a market cap of $4,160.00, a PE ratio of 69.32, a P/E/G ratio of 2.24 and a beta of 0.93.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.62%. Wendys’s payout ratio is presently 112.00%.
In other news, insider Scott A. Weisberg purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $14.29 per share, with a total value of $142,900.00. Following the purchase, the insider now directly owns 199,014 shares of the company’s stock, valued at $2,843,910.06. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 26.50% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Wendys by 0.3% in the 2nd quarter. BlackRock Inc. now owns 15,432,711 shares of the restaurant operator’s stock worth $239,362,000 after buying an additional 41,702 shares during the period. Janus Henderson Group PLC bought a new position in Wendys in the 2nd quarter worth approximately $189,448,000. Wells Fargo & Company MN increased its position in Wendys by 4.3% in the 3rd quarter. Wells Fargo & Company MN now owns 7,960,038 shares of the restaurant operator’s stock worth $123,620,000 after buying an additional 329,659 shares during the period. Goldman Sachs Group Inc. increased its position in Wendys by 11.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,095,403 shares of the restaurant operator’s stock worth $32,500,000 after buying an additional 207,563 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Wendys by 92.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock worth $22,270,000 after purchasing an additional 688,700 shares in the last quarter. 76.33% of the stock is currently owned by institutional investors and hedge funds.
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Wendys Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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