Wendy’s (NASDAQ:WEN) Releases FY24 Earnings Guidance

Wendy’s (NASDAQ:WEN) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.99-$1.01 for the period, compared to the consensus EPS estimate of $0.99. Wendy’s also updated its FY 2024 guidance to 0.990-1.010 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEN. JPMorgan Chase & Co. increased their price target on Wendy’s from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Wendy’s from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $19.50 target price on shares of Wendy’s in a report on Thursday, August 1st. Wolfe Research upgraded shares of Wendy’s to a “strong-buy” rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Wendy’s from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.22.

Wendy’s Stock Performance

NASDAQ:WEN opened at $19.62 on Thursday. The company has a current ratio of 2.17, a quick ratio of 2.15 and a debt-to-equity ratio of 12.01. The stock has a 50 day simple moving average of $17.92 and a 200 day simple moving average of $17.71. Wendy’s has a 1-year low of $15.61 and a 1-year high of $20.65. The stock has a market cap of $4.02 billion, a P/E ratio of 20.52, a PEG ratio of 2.47 and a beta of 0.80.

Wendy’s (NASDAQ:WEN) last posted its earnings results on Thursday, August 1st. The restaurant operator reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Wendy’s had a return on equity of 67.74% and a net margin of 9.18%. The firm had revenue of $570.73 million for the quarter, compared to analyst estimates of $577.15 million. During the same period in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that Wendy’s will post 0.98 earnings per share for the current year.

Wendy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.10%. Wendy’s’s dividend payout ratio (DPR) is 101.01%.

Insiders Place Their Bets

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of Wendy’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $17.18, for a total value of $17,180,000.00. Following the completion of the transaction, the director now directly owns 14,943,466 shares of the company’s stock, valued at $256,728,745.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.

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.