Wendys Co (NASDAQ:WEN) – Analysts at Wedbush increased their Q3 2020 earnings per share estimates for Wendys in a research note issued to investors on Thursday, September 17th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings of $0.16 per share for the quarter, up from their previous estimate of $0.13. Wedbush has a “Outperform” rating and a $28.00 price objective on the stock. Wedbush also issued estimates for Wendys’ Q2 2021 earnings at $0.15 EPS, Q3 2021 earnings at $0.18 EPS, FY2021 earnings at $0.60 EPS and Q2 2022 earnings at $0.17 EPS.
WEN has been the topic of a number of other research reports. Oppenheimer restated a “buy” rating and issued a $26.00 target price on shares of Wendys in a research note on Wednesday, September 9th. Tigress Financial restated a “buy” rating on shares of Wendys in a research note on Monday, July 20th. TheStreet upgraded shares of Wendys from a “c+” rating to a “b-” rating in a research note on Monday, August 3rd. Morgan Stanley increased their price objective on shares of Wendys from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wendys from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. Wendys presently has a consensus rating of “Hold” and a consensus price target of $22.67.
Wendys (NASDAQ:WEN) last issued its earnings results on Wednesday, August 5th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $402.30 million for the quarter, compared to analyst estimates of $411.29 million. Wendys had a net margin of 6.70% and a return on equity of 21.11%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS.
A number of large investors have recently modified their holdings of WEN. Advisor Group Holdings Inc. bought a new position in Wendys during the 1st quarter valued at about $667,000. Mackenzie Financial Corp acquired a new stake in shares of Wendys during the 1st quarter worth approximately $342,000. HighTower Advisors LLC grew its position in shares of Wendys by 10.2% during the 1st quarter. HighTower Advisors LLC now owns 41,521 shares of the restaurant operator’s stock worth $618,000 after buying an additional 3,829 shares during the period. Vident Investment Advisory LLC grew its position in shares of Wendys by 303.1% during the 2nd quarter. Vident Investment Advisory LLC now owns 58,181 shares of the restaurant operator’s stock worth $1,267,000 after buying an additional 43,748 shares during the period. Finally, M&T Bank Corp grew its position in shares of Wendys by 19.0% during the 1st quarter. M&T Bank Corp now owns 16,934 shares of the restaurant operator’s stock worth $252,000 after buying an additional 2,704 shares during the period. Hedge funds and other institutional investors own 69.37% of the company’s stock.
In related news, Director Dennis M. Kass acquired 3,500 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average cost of $21.09 per share, for a total transaction of $73,815.00. Following the completion of the acquisition, the director now directly owns 48,508 shares of the company’s stock, valued at approximately $1,023,033.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 20.90% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, August 31st. Wendys’s dividend payout ratio (DPR) is presently 33.90%.
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.
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