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

The Wendy’s Company (NASDAQ:WEN) – Wedbush cut their Q3 2024 earnings per share (EPS) estimates for shares of Wendy’s in a 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 previous estimate 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.

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

A number of other equities research analysts also recently commented on WEN. UBS Group lifted their target price on shares of Wendy’s from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Gordon Haskett lowered Wendy’s from a “buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a report on Tuesday, January 16th. 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 report on Tuesday, February 20th. Truist Financial dropped their target price on Wendy’s from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, Stephens reaffirmed an “equal weight” rating and set a $20.00 price target on shares of Wendy’s in a research report on Thursday, May 2nd. Fourteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Wendy’s currently has a consensus rating of “Hold” and an average target price of $22.60.

Wendy’s Stock Performance

Shares of WEN stock opened at $19.47 on Monday. The firm has a market capitalization of $3.99 billion, a PE ratio of 19.67, a P/E/G ratio of 2.01 and a beta of 0.78. The company has a 50 day moving average price of $18.85 and a 200-day moving average price of $19.05. Wendy’s has a 52 week low of $17.64 and a 52 week high of $23.90. The company has a quick ratio of 2.02, a current ratio of 2.04 and a debt-to-equity ratio of 11.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trian Fund Management L.P. lifted its position in shares of Wendy’s by 60.9% in the third quarter. Trian Fund Management L.P. now owns 33,350,743 shares of the restaurant operator’s stock worth $680,689,000 after buying an additional 12,618,115 shares in the last quarter. Norges Bank bought a new stake in Wendy’s in the 4th quarter worth approximately $27,627,000. Vanguard Group Inc. raised its holdings in shares of Wendy’s by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 20,248,412 shares of the restaurant operator’s stock worth $413,270,000 after acquiring an additional 1,162,540 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Wendy’s during the 4th quarter valued at approximately $20,574,000. Finally, AQR Capital Management LLC grew its holdings in shares of Wendy’s by 193.7% in the third quarter. AQR Capital Management LLC now owns 1,277,958 shares of the restaurant operator’s stock valued at $26,083,000 after purchasing an additional 842,856 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Insider Activity

In related news, Director Kenneth W. Gilbert sold 4,500 shares of the stock in a transaction dated 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 in the company, valued at $565,663.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.10% of the company’s stock.

Wendy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 5.14%. Wendy’s’s dividend payout ratio is presently 101.01%.

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.