Janney Montgomery Scott Downgrades The Wendy’s to Neutral (WEN)
The Wendy’s (NYSE:WEN) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $9.00 price objective on the stock. Janney Montgomery Scott’s price objective would suggest a potential upside of 7.14% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Wendy’s in a research note to investors on Friday. They now have a $9.25 price target on 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.57.
The Wendy’s (NYSE:WEN) traded down 3.23% during mid-day trading on Monday, hitting $8.40. The stock had a trading volume of 9,525,788 shares. The Wendy’s has a one year low of $4.72 and a one year high of $9.51. The stock’s 50-day moving average is $8.60 and its 200-day moving average is $7.90. The company has a market cap of $3.290 billion and a price-to-earnings ratio of 91.37.
The Wendy’s (NYSE:WEN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that The Wendy’s will post $0.25 earnings per share for the current fiscal year.
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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