Wedbush Comments on The Wendy’s Company’s Q3 2023 Earnings (NASDAQ:WEN)

The Wendy’s Company (NASDAQ:WENGet Rating) – Equities research analysts at Wedbush lowered their Q3 2023 earnings estimates for shares of Wendy’s in a report released on Thursday, November 10th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $0.27 for the quarter, down from their prior estimate of $0.28. Wedbush currently has a “Outperform” rating and a $24.00 target price on the stock. The consensus estimate for Wendy’s’ current full-year earnings is $0.85 per share. Wedbush also issued estimates for Wendy’s’ Q4 2023 earnings at $0.24 EPS and FY2023 earnings at $0.98 EPS.

Other research analysts have also issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Wendy’s from $18.00 to $20.00 in a report on Thursday, August 11th. StockNews.com assumed coverage on shares of Wendy’s in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wendy’s from $24.00 to $23.00 in a report on Thursday. Morgan Stanley lowered their price target on shares of Wendy’s from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, October 11th. Finally, OTR Global restated an “upgrade” rating on shares of Wendy’s in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.00.

Wendy’s Stock Down 1.5 %

Shares of NASDAQ WEN opened at $21.06 on Friday. The company has a 50 day simple moving average of $19.89 and a 200 day simple moving average of $19.50. The firm has a market cap of $4.48 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.88 and a beta of 0.90. Wendy’s has a 1 year low of $15.77 and a 1 year high of $24.48. The company has a debt-to-equity ratio of 8.04, a current ratio of 2.62 and a quick ratio of 2.60.

Wendy’s (NASDAQ:WENGet Rating) last issued its quarterly earnings data on Wednesday, August 10th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $537.80 million during the quarter, compared to analyst estimates of $538.85 million. Wendy’s had a net margin of 9.08% and a return on equity of 35.49%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS.

Institutional Trading of Wendy’s

Hedge funds have recently modified their holdings of the stock. CoreCap Advisors LLC bought a new stake in shares of Wendy’s in the 2nd quarter valued at $37,000. Wipfli Financial Advisors LLC bought a new stake in Wendy’s during the 3rd quarter valued at $38,000. Hazlett Burt & Watson Inc. bought a new stake in Wendy’s during the 1st quarter valued at $47,000. Quantbot Technologies LP bought a new stake in Wendy’s during the 2nd quarter valued at $41,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Wendy’s by 59.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,247 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 836 shares in the last quarter. Institutional investors own 70.88% of the company’s stock.

Wendy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.125 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.37%. Wendy’s’s dividend payout ratio is currently 57.47%.

About Wendy’s

(Get Rating)

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company. It operates through three segments: Wendy's U.S., Wendy's International, and Global Real Estate & Development. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.

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Earnings History and Estimates for Wendy's (NASDAQ:WEN)

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