Wedbush Weighs in on The Wendy’s Company’s Q3 2024 Earnings (NASDAQ:WEN)

The Wendy’s Company (NASDAQ:WEN) – Analysts at Wedbush decreased 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 anticipates that the restaurant operator will post earnings per share of $0.27 for the quarter, down from their prior estimate of $0.29. Wedbush currently has a “Neutral” rating and a $21.00 target price 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.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein downgraded Wendy’s from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $24.00 to $20.00 in a research report on Thursday, February 22nd. Citigroup increased their target price on Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Royal Bank of Canada dropped their price target on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th. TD Cowen reaffirmed a “hold” rating and set a $19.00 price objective on shares of Wendy’s in a research report on Friday, May 3rd. Finally, Truist Financial decreased their target price on shares of Wendy’s from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Fourteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.60.

Wendy’s Price Performance

Shares of Wendy’s stock opened at $19.47 on Monday. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 11.21. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.78. Wendy’s has a twelve month low of $17.64 and a twelve month high of $23.90. The company has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $19.05.

Wendy’s (NASDAQ:WEN) last posted its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $534.80 million for the quarter, compared to analysts’ expectations of $540.84 million. Wendy’s had a return on equity of 62.68% and a net margin of 9.44%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 5.14%. Wendy’s’s payout ratio is 101.01%.

Insider Buying and Selling at Wendy’s

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.07, for a total transaction of $81,315.00. Following the completion of the sale, the director now owns 31,304 shares of the company’s stock, valued at $565,663.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Highlander Capital Management LLC lifted its holdings in shares of Wendy’s by 250.0% in the 4th quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Wendy’s by 112.0% in the third quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 763 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Wendy’s by 378.0% during the first quarter. Salomon & Ludwin LLC now owns 1,568 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 1,240 shares during the last quarter. Spire Wealth Management increased its position in shares of Wendy’s by 203.2% during the third quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Wendy’s in the 4th quarter worth about $34,000. 85.96% of the stock is owned by institutional investors.

About Wendy’s

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.