Wendy’s (NASDAQ:WEN) Given New $20.00 Price Target at Wedbush

Wendy’s (NASDAQ:WEN) had its price target lifted by Wedbush from $19.00 to $20.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Wendy’s’ Q2 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.33 EPS and Q4 2025 earnings at $0.28 EPS.

WEN has been the topic of several other reports. TD Cowen reaffirmed a hold rating and set a $19.00 price objective on shares of Wendy’s in a research note on Wednesday, April 10th. Truist Financial decreased their target price on Wendy’s from $23.00 to $22.00 and set a buy rating on the stock in a report on Tuesday, February 20th. Barclays cut Wendy’s from an overweight rating to an equal weight rating and cut their price target for the company from $23.00 to $21.00 in a report on Wednesday, January 3rd. Gordon Haskett cut shares of Wendy’s from a buy rating to a hold rating and set a $21.00 price objective for the company. in a research report on Tuesday, January 16th. Finally, BMO Capital Markets reduced their target price on shares of Wendy’s from $22.00 to $20.00 and set a market perform rating on the stock in a research report on Friday, February 16th. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $22.53.

Wendy’s Trading Up 1.6 %

Shares of WEN stock opened at $20.14 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.18 and a debt-to-equity ratio of 10.66. Wendy’s has a 1 year low of $17.64 and a 1 year high of $23.90. The firm’s fifty day simple moving average is $18.59 and its 200 day simple moving average is $19.00. The firm has a market capitalization of $4.14 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82.

Wendy’s (NASDAQ:WEN) last issued its earnings results on Thursday, February 15th. The restaurant operator reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $540.65 million during the quarter, compared to analyst estimates of $546.47 million. Wendy’s had a net margin of 9.37% and a return on equity of 56.24%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, sell-side analysts predict that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Announces Dividend

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 annualized dividend and a yield of 4.97%. Wendy’s’s dividend payout ratio (DPR) is presently 102.04%.

Insider Transactions at Wendy’s

In other Wendy’s news, Director Kenneth W. Gilbert sold 4,500 shares of the business’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 directly owns 31,304 shares of the company’s stock, valued at $565,663.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.

Institutional Trading of Wendy’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. Highlander Capital Management LLC increased its stake in Wendy’s by 250.0% in the 4th quarter. Highlander Capital Management LLC now owns 1,400 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 1,000 shares during the last quarter. Signaturefd LLC raised its stake in shares of Wendy’s by 112.0% during the 3rd quarter. Signaturefd LLC now owns 1,444 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 763 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Wendy’s by 203.2% in the 3rd quarter. Spire Wealth Management now owns 1,516 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 1,016 shares during the last quarter. Quarry LP bought a new position in shares of Wendy’s in the fourth quarter valued at $34,000. Finally, Quadrant Capital Group LLC increased its holdings in Wendy’s by 145.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,116 shares of the restaurant operator’s stock worth $41,000 after buying an additional 1,255 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Wendy’s Company Profile

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.