Wendy’s Co. (WEN) Downgraded by Vetr Inc.
Vetr cut shares of Wendy’s Co. (NASDAQ:WEN) from a buy rating to a hold rating in a report issued on Thursday morning. They currently have $11.00 price target on the stock.
Other equities research analysts have also issued research reports about the company. RBC Capital Markets lowered Wendy’s from an outperform rating to a sector perform rating and dropped their price target for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Sanford C. Bernstein began coverage on Wendy’s in a report on Thursday, May 26th. They set a market perform rating for the company. Royal Bank Of Canada downgraded Wendy’s from an outperform rating to a sector perform rating and decreased their price objective for the stock from $12.00 to $11.00 in a report on Tuesday, August 2nd. Zacks Investment Research downgraded Wendy’s from a buy rating to a hold rating in a report on Wednesday, July 13th. Finally, Credit Suisse Group AG reiterated a hold rating on shares of Wendy’s in a report on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $12.69.
Wendy’s (NASDAQ:WEN) opened at 10.73 on Thursday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 20.67 and a beta of 0.83. The stock’s 50 day moving average price is $10.11 and its 200-day moving average price is $10.24. Wendy’s has a one year low of $8.43 and a one year high of $11.38.
Wendy’s (NASDAQ:WEN) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $366.92 million. Wendy’s had a return on equity of 15.94% and a net margin of 8.59%. Wendy’s’s revenue was down 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities research analysts expect that Wendy’s will post $0.40 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.24%. Wendy’s’s dividend payout ratio (DPR) is currently 45.28%.
A number of large investors have recently modified their holdings of WEN. Menta Capital LLC purchased a new stake in shares of Wendy’s during the first quarter worth $1,115,000. Landscape Capital Management L.L.C. raised its stake in shares of Wendy’s by 161.4% in the first quarter. Landscape Capital Management L.L.C. now owns 264,487 shares of the company’s stock worth $2,880,000 after buying an additional 163,287 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Wendy’s by 435.2% in the first quarter. JPMorgan Chase & Co. now owns 691,974 shares of the company’s stock worth $7,536,000 after buying an additional 562,672 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Wendy’s by 22.9% in the first quarter. BlackRock Group LTD now owns 206,883 shares of the company’s stock worth $2,253,000 after buying an additional 38,516 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Wendy’s by 18.6% in the first quarter. BlackRock Inc. now owns 99,001 shares of the company’s stock worth $1,078,000 after buying an additional 15,545 shares in the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.
Wendy’s Company Profile
The Wendy’s Company is the parent company of its subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the restaurant company specializing in the hamburger sandwich segment.
To view Vetr’s full report, visit Vetr’s official website.
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