The Wendy’s Company to Post Q2 2024 Earnings of $0.27 Per Share, Wedbush Forecasts (NASDAQ:WEN)

The Wendy’s Company (NASDAQ:WEN) – Equities researchers at Wedbush reduced their Q2 2024 earnings per share (EPS) estimates for shares of Wendy’s in a note issued to investors on Friday, April 26th. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $0.27 per share for the quarter, down from their prior estimate of $0.28. Wedbush currently has a “Neutral” rating and a $20.00 target price on the stock. The consensus estimate for Wendy’s’ current full-year earnings is $0.99 per share. Wedbush also issued estimates for Wendy’s’ Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.28 EPS.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, February 15th. The restaurant operator reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $540.65 million during the quarter, compared to analyst estimates of $546.47 million. Wendy’s had a return on equity of 56.24% and a net margin of 9.37%. Wendy’s’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share.

A number of other research analysts have also issued reports on WEN. Barclays lowered shares of Wendy’s from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $23.00 to $21.00 in a research note on Wednesday, January 3rd. Gordon Haskett downgraded Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a research report on Tuesday, January 16th. Sanford C. Bernstein cut Wendy’s from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $24.00 to $20.00 in a research report on Thursday, February 22nd. BMO Capital Markets cut their target price on Wendy’s from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, February 16th. Finally, Royal Bank of Canada decreased their price target on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th. Thirteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Wendy’s currently has an average rating of “Hold” and a consensus price target of $22.53.

Wendy’s Stock Down 0.4 %

Wendy’s stock opened at $19.99 on Monday. The firm has a market capitalization of $4.11 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.03 and a beta of 0.82. The company has a 50-day simple moving average of $18.65 and a 200-day simple moving average of $19.02. Wendy’s has a one year low of $17.64 and a one year high of $23.90. The company has a debt-to-equity ratio of 10.66, a quick ratio of 2.18 and a current ratio of 2.19.

Hedge Funds Weigh In On Wendy’s

A number of institutional investors have recently bought and sold shares of WEN. Russell Investments Group Ltd. boosted its holdings in shares of Wendy’s by 22.2% in the fourth quarter. Russell Investments Group Ltd. now owns 3,220 shares of the restaurant operator’s stock worth $63,000 after buying an additional 586 shares during the period. Signaturefd LLC lifted its position in shares of Wendy’s by 112.0% in the 3rd quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 763 shares in the last quarter. Private Wealth Strategies L.L.C. boosted its stake in Wendy’s by 4.6% in the 4th quarter. Private Wealth Strategies L.L.C. now owns 17,867 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 789 shares during the period. HB Wealth Management LLC grew its position in Wendy’s by 5.5% during the 4th quarter. HB Wealth Management LLC now owns 15,461 shares of the restaurant operator’s stock worth $301,000 after purchasing an additional 805 shares in the last quarter. Finally, Paradigm Financial Partners LLC raised its stake in Wendy’s by 3.5% during the 4th quarter. Paradigm Financial Partners LLC now owns 24,355 shares of the restaurant operator’s stock valued at $474,000 after purchasing an additional 820 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.

Insider Activity

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of Wendy’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.07, for a total value of $81,315.00. Following the transaction, the director now owns 31,304 shares in the company, valued at $565,663.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 17.10% of the company’s stock.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Thursday, February 29th. Wendy’s’s payout ratio is 102.04%.

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.