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

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

Wendy’s Stock Performance

WEN traded up $0.55 on Friday, hitting $19.66. The company had a trading volume of 4,384,974 shares, compared to its average volume of 3,521,588. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The company has a debt-to-equity ratio of 12.01, a current ratio of 2.17 and a quick ratio of 2.15. The company’s fifty day moving average price is $18.03 and its 200 day moving average price is $17.72. Wendy’s has a 1-year low of $15.61 and a 1-year high of $20.65.

Wendy’s (NASDAQ:WEN) last released its earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $566.70 million during the quarter, compared to analyst estimates of $560.50 million. Wendy’s had a net margin of 9.18% and a return on equity of 67.74%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Equities analysts predict that Wendy’s will post 0.98 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Monday, December 2nd. Wendy’s’s dividend payout ratio (DPR) is presently 105.26%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WEN. Stephens reissued an “equal weight” rating and set a $19.00 price objective on shares of Wendy’s in a report on Thursday. Citigroup lifted their price target on shares of Wendy’s from $18.00 to $18.75 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. TD Cowen increased their price objective on shares of Wendy’s from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Truist Financial lifted their target price on shares of Wendy’s from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus lowered their target price 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 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Insider Activity at Wendy’s

In other news, Director Matthew H. Peltz sold 1,000,000 shares of the firm’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 transaction, the director now directly owns 14,943,466 shares in the company, valued at $256,728,745.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.10% of the stock is currently owned by company 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.