Argus Downgrades The Wendy's Co to Hold (WEN)
The Wendy's Co (NYSE:WEN) was downgraded by stock analysts at Argus from a “buy” rating to a “hold” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $8.50 target price on the stock, down from their previous target price of $12.00. Argus’ price objective suggests a potential upside of 0.71% from the stock’s previous close.
A number of other analysts have also recently weighed in on WEN. Analysts at Zacks upgraded shares of The Wendy's Co from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 17th. They now have a $10.00 price target on the stock. Analysts at Tigress Financial initiated coverage on shares of The Wendy's Co in a research note on Thursday, April 10th. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.56.
The Wendy's Co (NYSE:WEN) opened at 8.44 on Tuesday. The Wendy's Co has a 52 week low of $5.57 and a 52 week high of $10.27. The stock has a 50-day moving average of $8.3 and a 200-day moving average of $8.7. The company has a market cap of $3.096 billion and a price-to-earnings ratio of 38.57.
The Wendy's Co (NYSE:WEN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $523.20 million for the quarter, compared to the consensus estimate of $498.20 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 down 13.3% on a year-over-year basis. On average, analysts predict that The Wendy's Co will post $0.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, May 30th.
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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