Wendys (WEN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Wendys (NASDAQ:WEN) issued its quarterly earnings results on Tuesday. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02, Briefing.com reports. The business had revenue of $400.55 million for the quarter. Wendys had a net margin of 40.00% and a return on equity of 26.88%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. Wendys updated its FY 2018 guidance to $0.56-0.58 EPS and its FY18 guidance to $0.56-0.58 EPS.

NASDAQ:WEN traded up $0.35 during mid-day trading on Thursday, hitting $16.98. The stock had a trading volume of 1,268,286 shares, compared to its average volume of 4,347,461. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 1.42 and a beta of 0.53. Wendys has a twelve month low of $13.57 and a twelve month high of $18.68. The company has a quick ratio of 1.70, a current ratio of 1.71 and a debt-to-equity ratio of 6.44.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.085 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.34 annualized dividend and a yield of 2.00%. Wendys’s dividend payout ratio (DPR) is 79.07%.

Several brokerages have recently issued reports on WEN. BidaskClub cut shares of Wendys from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Wedbush reissued a “buy” rating and set a $20.00 price target on shares of Wendys in a research report on Wednesday. Mizuho set a $21.00 price target on shares of Wendys and gave the stock a “buy” rating in a research report on Thursday, August 16th. Gordon Haskett began coverage on shares of Wendys in a research report on Thursday, October 18th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Wendys from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.93.

A number of large investors have recently modified their holdings of WEN. Marshall Wace LLP acquired a new stake in Wendys in the second quarter valued at approximately $31,887,000. FMR LLC raised its holdings in Wendys by 362.4% in the second quarter. FMR LLC now owns 1,386,158 shares of the restaurant operator’s stock valued at $23,814,000 after acquiring an additional 1,086,386 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Wendys by 12.3% in the second quarter. Wells Fargo & Company MN now owns 9,837,856 shares of the restaurant operator’s stock valued at $169,016,000 after acquiring an additional 1,078,609 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in Wendys in the second quarter valued at approximately $15,034,000. Finally, Millennium Management LLC raised its holdings in Wendys by 63.0% in the second quarter. Millennium Management LLC now owns 2,120,428 shares of the restaurant operator’s stock valued at $36,429,000 after acquiring an additional 819,826 shares in the last quarter. 77.65% of the stock is currently owned by hedge funds and other institutional investors.

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About Wendys

The Wendy's Company, through its subsidiaries, operates as a quick-service restaurant company. It is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches. The company's restaurants offer a range of chicken breast sandwiches, chicken nuggets, chili, French fries, baked potatoes, salads, soft drinks, desserts, and kids' meals.

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Earnings History for Wendys (NASDAQ:WEN)

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