The Wendy’s Company (NASDAQ:WEN – Get Rating) – Research analysts at KeyCorp raised their Q4 2022 EPS estimates for Wendy’s in a note issued to investors on Tuesday, January 17th. KeyCorp analyst E. Gonzalez now forecasts that the restaurant operator will post earnings of $0.22 per share for the quarter, up from their prior forecast of $0.20. The consensus estimate for Wendy’s’ current full-year earnings is $0.84 per share. KeyCorp also issued estimates for Wendy’s’ Q3 2023 earnings at $0.27 EPS, Q4 2023 earnings at $0.25 EPS and FY2023 earnings at $1.00 EPS.
Other equities research analysts also recently issued research reports about the stock. Cowen raised their price objective on shares of Wendy’s from $19.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, January 13th. Citigroup decreased their target price on Wendy’s from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, November 10th. Oppenheimer lowered Wendy’s from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 5th. They noted that the move was a valuation call. Credit Suisse Group upped their price objective on Wendy’s from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Guggenheim set a $24.00 price target on Wendy’s in a research note on Thursday, November 17th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.53.
Wendy’s Stock Performance
Wendy’s (NASDAQ:WEN – Get Rating) last announced its earnings results on Wednesday, November 9th. The restaurant operator reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $532.57 million during the quarter, compared to the consensus estimate of $542.23 million. Wendy’s had a net margin of 9.26% and a return on equity of 39.75%.
Hedge Funds Weigh In On Wendy’s
Hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC purchased a new position in Wendy’s during the 2nd quarter worth $37,000. Wipfli Financial Advisors LLC acquired a new position in Wendy’s during the third quarter worth about $38,000. Quantbot Technologies LP acquired a new position in Wendy’s during the second quarter worth about $41,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Wendy’s by 59.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,247 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 836 shares during the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in shares of Wendy’s in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.
Wendy’s Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.25 dividend. This is an increase from Wendy’s’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 4.45%. Wendy’s’s dividend payout ratio is presently 57.47%.
The Wendy’s Co engages in operating, developing, and franchising a system of quick-service restaurants. It offers hamburgers and related products, such as chicken breast sandwiches, nuggets, chili, and baked potatoes, French fries, freshly prepared salads, soft drinks, milk, coffee, frosty deserts, and kid’s meals.
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