Brokerages Expect Wendy’s Company (The) (WEN) Will Post Quarterly Sales of $307.50 Million
Equities research analysts expect Wendy’s Company (The) (NASDAQ:WEN) to announce $307.50 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Wendy’s Company (The)’s earnings, with estimates ranging from $300.78 million to $313.30 million. Wendy’s Company (The) reported sales of $364.01 million in the same quarter last year, which would suggest a negative year over year growth rate of 15.5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Wendy’s Company (The) will report full-year sales of $307.50 million for the current financial year, with estimates ranging from $1.21 billion to $1.23 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Wendy’s Company (The).
Wendy’s Company (The) (NASDAQ:WEN) last posted its quarterly earnings data on Wednesday, August 9th. The restaurant operator reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Wendy’s Company (The) had a net margin of 7.68% and a return on equity of 19.67%. The firm had revenue of $320.34 million during the quarter. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was down 16.3% on a year-over-year basis.
Several equities research analysts have recently issued reports on WEN shares. Zacks Investment Research raised shares of Wendy’s Company (The) from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, July 20th. BMO Capital Markets reissued a “buy” rating on shares of Wendy’s Company (The) in a research report on Friday, August 11th. BidaskClub lowered shares of Wendy’s Company (The) from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Longbow Research raised shares of Wendy’s Company (The) from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $15.23 to $18.00 in a research report on Friday, September 15th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $18.00 price objective on shares of Wendy’s Company (The) in a research report on Monday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.89.
Shares of Wendy’s Company (NASDAQ:WEN) traded down 0.58% during trading on Wednesday, reaching $15.38. 2,143,876 shares of the company’s stock traded hands. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 39.95 and a beta of 0.99. Wendy’s Company has a 1-year low of $10.51 and a 1-year high of $16.66. The stock has a 50-day moving average of $15.08 and a 200-day moving average of $15.10.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.82%. Wendy’s Company (The)’s dividend payout ratio (DPR) is presently 75.68%.
Several hedge funds have recently made changes to their positions in WEN. BlackRock Inc. boosted its stake in shares of Wendy’s Company (The) by 11,068.4% in the first quarter. BlackRock Inc. now owns 15,391,009 shares of the restaurant operator’s stock valued at $209,472,000 after purchasing an additional 15,253,200 shares during the period. Janus Henderson Group PLC bought a new position in Wendy’s Company (The) during the 2nd quarter valued at $189,448,000. Castleark Management LLC bought a new position in Wendy’s Company (The) during the 2nd quarter valued at $14,085,000. Renaissance Technologies LLC boosted its stake in Wendy’s Company (The) by 208.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,208,522 shares of the restaurant operator’s stock valued at $18,744,000 after acquiring an additional 817,040 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in Wendy’s Company (The) by 1,466.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 803,766 shares of the restaurant operator’s stock valued at $12,860,000 after acquiring an additional 752,454 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
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Wendy’s Company (The) Company Profile
The Wendy’s Company is the parent company of subsidiary holding company Wendy’s Restaurants, LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is a restaurant company specializing in the hamburger sandwich segment.
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