Research Analysts Set Expectations for The Wendy’s Company’s Q2 2024 Earnings (NASDAQ:WEN)

The Wendy’s Company (NASDAQ:WEN) – Equities researchers at Wedbush reduced their Q2 2024 earnings per share estimates for shares of Wendy’s in a research note issued on Friday, April 26th. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $0.27 per share for the quarter, down from their prior forecast of $0.28. Wedbush has a “Neutral” rating and a $20.00 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’ Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.28 EPS.

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Wendy’s had a net margin of 9.37% and a return on equity of 56.24%. The firm had revenue of $540.65 million during the quarter, compared to analyst estimates of $546.47 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year.

A number of other research analysts have also commented on WEN. JPMorgan Chase & Co. downgraded Wendy’s from an “overweight” rating to a “neutral” rating and cut their target price for the company from $22.00 to $19.00 in a research report on Wednesday, February 21st. Truist Financial cut their target price on Wendy’s from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada cut their target price on Wendy’s from $22.00 to $20.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 20th. Sanford C. Bernstein downgraded Wendy’s from an “outperform” rating to a “market perform” rating and cut their target price for the company from $24.00 to $20.00 in a research report on Thursday, February 22nd. Finally, Stephens initiated coverage on Wendy’s in a research report on Friday, April 12th. They set an “equal weight” rating and a $20.00 target price for the company. Thirteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.53.

Wendy’s Stock Performance

Shares of NASDAQ WEN opened at $20.14 on Monday. The company has a debt-to-equity ratio of 10.66, a current ratio of 2.19 and a quick ratio of 2.18. The stock’s fifty day moving average price is $18.62 and its two-hundred day moving average price is $19.00. Wendy’s has a one year low of $17.64 and a one year high of $23.90. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 2.03 and a beta of 0.82.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.25 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.00 dividend on an annualized basis and a yield of 4.97%. Wendy’s’s payout ratio is presently 102.04%.

Insiders Place Their Bets

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the company’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 owns 31,304 shares of the company’s stock, valued at approximately $565,663.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Wendy’s

A number of institutional investors and hedge funds have recently bought and sold shares of WEN. CWM LLC increased its stake in shares of Wendy’s by 81.4% in the third quarter. CWM LLC now owns 8,538 shares of the restaurant operator’s stock valued at $174,000 after buying an additional 3,830 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Wendy’s in the third quarter valued at about $108,000. Private Trust Co. NA acquired a new stake in shares of Wendy’s in the third quarter valued at about $43,000. My Legacy Advisors LLC increased its stake in shares of Wendy’s by 13.5% in the third quarter. My Legacy Advisors LLC now owns 17,750 shares of the restaurant operator’s stock valued at $342,000 after buying an additional 2,114 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of Wendy’s by 2.0% in the third quarter. Commonwealth Equity Services LLC now owns 86,969 shares of the restaurant operator’s stock valued at $1,775,000 after buying an additional 1,723 shares during the period. Institutional investors and hedge funds own 85.96% of the company’s stock.

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.