The Wendy’s Given Neutral Rating at Zacks (WEN)
The Wendy’s (NYSE:WEN)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday, AnalystRatings.NET reports. They currently have a $9.25 target price on the stock. Zacks‘ price target would suggest a potential upside of 5.35% from the company’s current price.
Zacks‘ analyst wrote, “Wendy’s posted mixed third quarter results with earnings beating the Zacks Consensus Estimate by 33.3% and the year-ago figure by 300.0%, riding on strong margins. Though revenues fell shy of the Zacks Consensus Estimate, they increased 0.7% year over year. Also, the company posted strong comps. Going forward, the multi-year turnaround plan, international expansion, extensive refurbishment of units, and focus on franchising should keep the company well positioned. Moreover, the company’s regular dividend payments and share buyback activity are likely to keep the stock attractive for investors. Though Wendy’s repositioning efforts seem to be on track, they are yet to reap full benefits. Moreover, an uncertain economy, faltering consumer confidence as well as heightened competition remain concerns. We thus maintain our Neutral recommendation on the stock.”
The Wendy’s (NYSE:WEN) traded down 1.42% on Friday, hitting $8.655. The stock had a trading volume of 1,539,702 shares. The Wendy’s has a 52-week low of $4.70 and a 52-week high of $9.51. The stock’s 50-day moving average is $8.60 and its 200-day moving average is $7.88. The company has a market cap of $3.390 billion and a price-to-earnings ratio of 92.42.
The Wendy’s (NYSE:WEN) last released its earnings data on Thursday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $640.80 million for the quarter, compared to the consensus estimate of $645.44 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital initiated coverage on shares of The Wendy’s in a research note to investors on Friday, November 8th. They set a “sector perform” rating and a $8.50 price target on the stock. Analysts at Deutsche Bank raised their price target on shares of The Wendy’s from $7.00 to $8.00 in a research note to investors on Monday, October 7th. They now have a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.43.
The Wendy’s Company is a quick-service restaurant company in the hamburger sandwich segment. Wendy’s is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving food.
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