Wendys Co (NASDAQ:WEN) – Equities researchers at Piper Jaffray Companies lifted their Q4 2019 earnings per share (EPS) estimates for shares of Wendys in a report issued on Monday, October 14th. Piper Jaffray Companies analyst N. Regan now expects that the restaurant operator will earn $0.11 per share for the quarter, up from their prior forecast of $0.10. Piper Jaffray Companies currently has a “Buy” rating and a $22.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Wendys’ Q3 2020 earnings at $0.16 EPS and Q4 2020 earnings at $0.17 EPS.
Wendys (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to the consensus estimate of $439.64 million. Wendys had a return on equity of 23.16% and a net margin of 28.88%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS.
WEN has been the subject of several other reports. Wells Fargo & Co increased their price objective on Wendys from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. BTIG Research downgraded Wendys from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 10th. SunTrust Banks raised their price target on Wendys to $26.00 and gave the stock a “buy” rating in a research note on Monday. ValuEngine downgraded Wendys from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stephens set a $24.00 price target on Wendys and gave the stock a “buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. Wendys presently has a consensus rating of “Hold” and an average price target of $21.36.
Shares of Wendys stock opened at $21.25 on Wednesday. The stock has a 50-day moving average price of $20.78 and a 200 day moving average price of $19.50. The company has a market cap of $4.79 billion, a P/E ratio of 36.02, a P/E/G ratio of 2.52 and a beta of 0.65. The company has a current ratio of 1.97, a quick ratio of 1.96 and a debt-to-equity ratio of 5.67. Wendys has a 1 year low of $14.96 and a 1 year high of $22.84.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Wendys’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 29th. Wendys’s dividend payout ratio (DPR) is presently 67.80%.
In other Wendys news, major shareholder Trian Fund Management, L.P. sold 475,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $19.90, for a total value of $9,452,500.00. Following the sale, the insider now owns 5,444,270 shares of the company’s stock, valued at approximately $108,340,973. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew H. Peltz sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $19.97, for a total value of $39,940,000.00. Following the completion of the sale, the director now directly owns 5,444,270 shares in the company, valued at approximately $108,722,071.90. The disclosure for this sale can be found here. Insiders sold a total of 2,478,694 shares of company stock worth $49,468,264 over the last three months. 20.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Wendys by 1.3% during the 2nd quarter. BlackRock Inc. now owns 16,840,359 shares of the restaurant operator’s stock worth $329,735,000 after purchasing an additional 211,285 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Wendys by 65.5% during the 2nd quarter. Invesco Ltd. now owns 10,441,578 shares of the restaurant operator’s stock worth $204,447,000 after purchasing an additional 4,131,438 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Wendys by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 9,948,238 shares of the restaurant operator’s stock worth $194,787,000 after purchasing an additional 211,568 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Wendys by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,226,703 shares of the restaurant operator’s stock worth $63,178,000 after purchasing an additional 209,386 shares in the last quarter. Finally, Cardinal Capital Management LLC CT grew its holdings in shares of Wendys by 4.3% during the 2nd quarter. Cardinal Capital Management LLC CT now owns 2,698,130 shares of the restaurant operator’s stock worth $52,829,000 after purchasing an additional 112,279 shares in the last quarter. 76.38% of the stock is currently owned by hedge funds and other institutional investors.
The Wendy's Company, together its subsidiaries, operates as a quick-service restaurant company. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. As of December 30, 2018, its restaurant system included 6,711 franchise restaurants, which comprise 353 owned and operated restaurants worldwide.
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