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 $0.98-1.02 for the period, compared to the consensus earnings per share estimate of $1.00.

Wendy’s Stock Performance

Wendy’s stock opened at $19.62 on Thursday. The company has a debt-to-equity ratio of 10.66, a current ratio of 2.19 and a quick ratio of 2.18. Wendy’s has a 12 month low of $17.64 and a 12 month high of $23.90. The company has a fifty day moving average price of $18.69 and a two-hundred day moving average price of $19.03. The company has a market cap of $4.03 billion, a PE ratio of 20.02, a P/E/G ratio of 2.01 and a beta of 0.78.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Wendy’s had a return on equity of 56.24% and a net margin of 9.37%. The business had revenue of $540.65 million during the quarter, compared to the consensus estimate of $546.47 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that Wendy’s will post 0.99 earnings per share for the current year.

Wendy’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend was Thursday, February 29th. Wendy’s’s dividend payout ratio (DPR) is 102.04%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wedbush upped their price objective on Wendy’s from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Gordon Haskett lowered shares of Wendy’s from a buy rating to a hold rating and set a $21.00 price target for the company. in a research report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded shares of Wendy’s from an overweight rating to a neutral rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, February 21st. Royal Bank of Canada reduced their target price on shares of 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. Finally, BMO Capital Markets dropped their price target on shares of 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. Thirteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $22.53.

Insider Buying and Selling

In other news, Director Kenneth W. Gilbert sold 4,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $18.07, for a total value of $81,315.00. Following the sale, the director now owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.10% of the stock is owned by corporate insiders.

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.