Zacks: Brokerages Anticipate Wendys Co (WEN) Will Announce Quarterly Sales of $440.95 Million
Analysts expect that Wendys Co (NASDAQ:WEN) will post $440.95 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Wendys’ earnings. The lowest sales estimate is $439.50 million and the highest is $442.50 million. Wendys posted sales of $411.00 million in the same quarter last year, which suggests a positive year over year growth rate of 7.3%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 6th.
On average, analysts expect that Wendys will report full year sales of $1.71 billion for the current financial year, with estimates ranging from $1.70 billion to $1.71 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.79 billion, with estimates ranging from $1.77 billion to $1.81 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Wendys.
Wendys (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, May 8th. The restaurant operator reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $408.60 million for the quarter, compared to analysts’ expectations of $398.58 million. Wendys had a return on equity of 23.85% and a net margin of 29.16%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS.
Wendys stock traded down $0.04 during trading on Friday, reaching $18.97. The company had a trading volume of 1,520,500 shares, compared to its average volume of 3,537,017. Wendys has a 52 week low of $14.96 and a 52 week high of $19.45. The stock has a market cap of $4.38 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.10 and a beta of 0.77. The company has a debt-to-equity ratio of 5.80, a quick ratio of 2.04 and a current ratio of 2.05.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.11%. Wendys’s payout ratio is presently 67.80%.
In other news, insider Abigail E. Pringle sold 8,897 shares of the firm’s stock in a transaction dated 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 owns 100,917 shares in the company, valued at $1,750,909.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert D. Wright sold 454,793 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $18.60, for a total value of $8,459,149.80. Following the transaction, the chief operating officer now owns 237,425 shares of the company’s stock, valued at approximately $4,416,105. The disclosure for this sale can be found here. Insiders sold a total of 3,699,429 shares of company stock valued at $64,343,804 in the last quarter. 20.90% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in shares of Wendys by 330.9% during the first quarter. Rockefeller Capital Management L.P. now owns 1,409 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 1,082 shares in the last quarter. Enlightenment Research LLC purchased a new position in shares of Wendys during the fourth quarter valued at about $28,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Wendys during the first quarter valued at about $58,000. Clarfeld Financial Advisors LLC purchased a new position in shares of Wendys during the fourth quarter valued at about $94,000. Finally, Citizens Financial Group Inc RI purchased a new position in Wendys in the first quarter worth about $107,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.
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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