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

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

Wendy’s Price Performance

Shares of WEN opened at $19.66 on Friday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.62 and a beta of 0.79. Wendy’s has a 1-year low of $15.61 and a 1-year high of $20.65. The company’s fifty day simple moving average is $18.03 and its 200 day simple moving average is $17.72. The company has a current ratio of 2.10, a quick ratio of 2.15 and a debt-to-equity ratio of 12.64.

Wendy’s (NASDAQ:WEN) last issued 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 business had revenue of $566.70 million for the quarter, compared to the consensus estimate of $560.50 million. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. On average, research analysts forecast that Wendy’s will post 0.98 earnings per share for the current fiscal year.

Wendy’s Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WEN shares. Stephens reissued an “equal weight” rating and issued a $19.00 target price on shares of Wendy’s in a research report on Thursday. Stifel Nicolaus decreased their price target 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. Morgan Stanley decreased their price target on shares of Wendy’s from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. TD Cowen upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wendy’s from $20.00 to $18.00 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 assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.36.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Matthew H. Peltz sold 1,000,000 shares of the business’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 sale, the director now directly owns 14,943,466 shares in the company, valued at $256,728,745.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.10% of the company’s stock.

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.