MKM Partners Begins Coverage on Wendys (NASDAQ:WEN)

MKM Partners started coverage on shares of Wendys (NASDAQ:WEN) in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $20.00 price objective on the restaurant operator’s stock.

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Wendys from a buy rating to a hold rating in a report on Thursday, August 1st. BMO Capital Markets boosted their price objective on shares of Wendys from $19.00 to $21.00 and gave the stock an outperform rating in a report on Thursday, May 9th. Zacks Investment Research upgraded shares of Wendys from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Saturday, June 15th. BidaskClub upgraded shares of Wendys from a sell rating to a hold rating in a report on Tuesday, August 6th. Finally, Goldman Sachs Group initiated coverage on shares of Wendys in a report on Monday, July 29th. They issued a sell rating and a $17.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $20.18.

Shares of Wendys stock opened at $19.79 on Tuesday. Wendys has a 1 year low of $14.96 and a 1 year high of $20.30. The firm has a market cap of $4.54 billion, a PE ratio of 33.54, a PEG ratio of 2.16 and a beta of 0.72. The company has a debt-to-equity ratio of 5.67, a current ratio of 1.97 and a quick ratio of 1.96. The company has a 50 day simple moving average of $19.20 and a two-hundred day simple moving average of $18.44.

Wendys (NASDAQ:WEN) last announced its earnings results on Wednesday, August 7th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Wendys had a net margin of 28.88% and a return on equity of 23.16%. The business had revenue of $435.30 million during the quarter, compared to analyst estimates of $439.64 million. During the same period in the previous year, the business posted $0.14 earnings per share. Wendys’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that Wendys will post 0.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, August 30th. Wendys’s dividend payout ratio is presently 67.80%.

Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in Wendys by 16.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,600 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 1,881 shares during the period. Nuveen Asset Management LLC bought a new position in Wendys during the 2nd quarter valued at about $14,113,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Wendys by 1,369.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,612,184 shares of the restaurant operator’s stock worth $31,567,000 after purchasing an additional 1,502,470 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Wendys by 1.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 900,064 shares of the restaurant operator’s stock worth $17,623,000 after purchasing an additional 14,327 shares during the period. Finally, CSat Investment Advisory L.P. bought a new position in shares of Wendys in the 2nd quarter worth approximately $116,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wendys Company Profile

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.

Featured Story: What is the downside to momentum investing?

Analyst Recommendations for Wendys (NASDAQ:WEN)

Receive News & Ratings for Wendys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendys and related companies with MarketBeat.com's FREE daily email newsletter.