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

Wendy’s (NASDAQ:WEN) issued an update on its FY24 earnings guidance on Thursday morning. 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 Price Performance

Shares of NASDAQ:WEN traded up $0.02 during trading on Friday, reaching $19.94. 3,617,900 shares of the company’s stock traded hands, compared to its average volume of 3,569,258. The firm has a market cap of $4.09 billion, a PE ratio of 20.14, a P/E/G ratio of 2.01 and a beta of 0.78. Wendy’s has a fifty-two week low of $17.64 and a fifty-two week high of $23.90. The company has a quick ratio of 2.18, a current ratio of 2.04 and a debt-to-equity ratio of 11.21. The company has a 50-day simple moving average of $18.80 and a 200-day simple moving average of $19.05.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Wendy’s had a net margin of 9.44% and a return on equity of 62.68%. The company had revenue of $534.80 million during the quarter, compared to analyst estimates of $540.84 million. During the same quarter in the previous year, the firm earned $0.21 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, analysts predict that Wendy’s will post 0.99 earnings per share for the current year.

Wendy’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.25 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 5.02%. Wendy’s’s payout ratio is currently 101.01%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WEN. Wedbush upped their price target on Wendy’s from $20.00 to $21.00 and gave the company a neutral rating in a research report on Friday. BMO Capital Markets lifted their price target on Wendy’s from $20.00 to $22.00 and gave the stock a market perform rating in a report on Friday. JPMorgan Chase & Co. lowered shares of Wendy’s from an overweight rating to a neutral rating and dropped their price objective for the company from $22.00 to $19.00 in a 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 on the stock in a research note on Tuesday, February 20th. Finally, Gordon Haskett cut 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 note on Tuesday, January 16th. Fourteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $22.60.

Insider Buying and Selling at Wendy’s

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $18.07, for a total value of $81,315.00. Following the completion of the transaction, the director now owns 31,304 shares in the company, valued at $565,663.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.10% of the stock is currently owned by 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.