Wendys Co (WEN) Receives $19.92 Consensus Target Price from Brokerages
Wendys Co (NASDAQ:WEN) has earned a consensus recommendation of “Buy” from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.92.
Several research analysts recently commented on WEN shares. Stifel Nicolaus lowered Wendys from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Oppenheimer upgraded Wendys from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Wednesday, January 9th. Wedbush lowered Wendys from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $17.50 in a research report on Wednesday, January 9th. ValuEngine lowered Wendys from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Wendys in a research report on Saturday, November 17th.
In other news, major shareholder Trian Fund Management, L.P. sold 3,000,000 shares of Wendys stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $17.11, for a total transaction of $51,330,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Abigail E. Pringle sold 8,897 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $17.35, for a total transaction of $154,362.95. Following the completion of the transaction, the insider now directly owns 100,917 shares of the company’s stock, valued at approximately $1,750,909.95. The disclosure for this sale can be found here. 23.10% of the stock is owned by company insiders.
WEN traded down $0.17 on Friday, hitting $16.63. The company had a trading volume of 4,116,212 shares, compared to its average volume of 3,814,936. The firm has a market cap of $3.98 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.00 and a beta of 0.77. Wendys has a 12-month low of $14.96 and a 12-month high of $18.68. The company has a current ratio of 2.34, a quick ratio of 2.33 and a debt-to-equity ratio of 4.25.
Wendys (NASDAQ:WEN) last released its quarterly earnings results on Thursday, February 21st. The restaurant operator reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $397.82 million during the quarter, compared to analyst estimates of $399.89 million. Wendys had a return on equity of 24.68% and a net margin of 28.94%. The firm’s revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. On average, research analysts forecast that Wendys will post 0.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.10 dividend. The ex-dividend date was Thursday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.41%. This is an increase from Wendys’s previous quarterly dividend of $0.09. Wendys’s dividend payout ratio (DPR) is presently 67.80%.
The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.
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