Q3 2024 EPS Estimates for The Wendy’s Company (NASDAQ:WEN) Reduced by Analyst

The Wendy’s Company (NASDAQ:WEN) – Equities researchers at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for Wendy’s in a research report issued on Friday, May 3rd. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $0.27 for the quarter, down from their prior forecast of $0.29. Wedbush has a “Neutral” rating and a $21.00 price objective on the stock. The consensus estimate for Wendy’s’ current full-year earnings is $0.99 per share. Wedbush also issued estimates for Wendy’s’ Q4 2024 earnings at $0.22 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $1.11 EPS.

Several other brokerages also recently issued reports on WEN. UBS Group raised their price target on Wendy’s from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday. Sanford C. Bernstein lowered shares of Wendy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $24.00 to $20.00 in a research note on Thursday, February 22nd. Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of Wendy’s in a report on Thursday. Royal Bank of Canada lowered their target price on 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, BMO Capital Markets upped their price objective on Wendy’s from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Friday. Fourteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Wendy’s has an average rating of “Hold” and an average target price of $22.60.

Wendy’s Price Performance

NASDAQ:WEN opened at $19.94 on Monday. 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 firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.01 and a beta of 0.78. Wendy’s has a 12-month low of $17.64 and a 12-month high of $23.90. The stock’s 50 day moving average price is $18.80 and its two-hundred day moving average price is $19.05.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $540.84 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis.

Institutional Investors Weigh In On Wendy’s

Several hedge funds and other institutional investors have recently bought and sold shares of WEN. Trian Fund Management L.P. grew its stake in shares of Wendy’s by 60.9% in the 3rd quarter. Trian Fund Management L.P. now owns 33,350,743 shares of the restaurant operator’s stock valued at $680,689,000 after buying an additional 12,618,115 shares during the period. Vanguard Group Inc. grew its stake in Wendy’s by 6.1% in the third quarter. Vanguard Group Inc. now owns 20,248,412 shares of the restaurant operator’s stock valued at $413,270,000 after acquiring an additional 1,162,540 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Wendy’s by 2.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,344,118 shares of the restaurant operator’s stock valued at $100,683,000 after acquiring an additional 111,626 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Wendy’s by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,706,052 shares of the restaurant operator’s stock worth $91,674,000 after purchasing an additional 31,341 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Wendy’s by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,141,024 shares of the restaurant operator’s stock worth $80,668,000 after purchasing an additional 63,927 shares in the last quarter. 85.96% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kenneth W. Gilbert sold 4,500 shares of Wendy’s stock in a transaction dated Friday, March 1st. The stock was 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 directly owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 17.10% of the company’s stock.

Wendy’s Dividend Announcement

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

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.