Wendys Co to Post Q3 2018 Earnings of $0.18 Per Share, SunTrust Banks Forecasts (WEN)

Wendys Co (NASDAQ:WEN) – Equities researchers at SunTrust Banks boosted their Q3 2018 earnings estimates for shares of Wendys in a research note issued to investors on Tuesday. SunTrust Banks analyst J. Bartlett now anticipates that the restaurant operator will post earnings per share of $0.18 for the quarter, up from their previous forecast of $0.15. SunTrust Banks also issued estimates for Wendys’ FY2018 earnings at $0.69 EPS and FY2019 earnings at $0.86 EPS.

Wendys (NASDAQ:WEN) last released its earnings results on Wednesday, November 8th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). Wendys had a return on equity of 20.35% and a net margin of 5.20%. The business had revenue of $308.00 million for the quarter. During the same period last year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was down 15.4% on a year-over-year basis.

WEN has been the subject of a number of other research reports. Royal Bank of Canada reissued a “hold” rating and issued a $18.00 price objective on shares of Wendys in a report on Friday, December 22nd. Wedbush raised shares of Wendys from a “neutral” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Wednesday, December 20th. Zacks Investment Research cut shares of Wendys from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Credit Suisse Group decreased their target price on shares of Wendys from $15.75 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, November 9th. Finally, BidaskClub raised shares of Wendys from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.84.

Shares of Wendys (NASDAQ:WEN) traded up $0.22 on Friday, hitting $16.73. 1,491,043 shares of the company were exchanged, compared to its average volume of 2,384,356. The company has a debt-to-equity ratio of 5.83, a current ratio of 1.80 and a quick ratio of 1.78. Wendys has a 12-month low of $13.03 and a 12-month high of $16.98. The stock has a market capitalization of $4,030.00, a price-to-earnings ratio of 66.92, a P/E/G ratio of 2.36 and a beta of 0.93.

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new stake in Wendys in the second quarter valued at approximately $189,448,000. Castleark Management LLC acquired a new stake in Wendys in the second quarter valued at approximately $14,085,000. Renaissance Technologies LLC raised its holdings in Wendys by 208.7% in the second 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 in the last quarter. FMR LLC raised its holdings in Wendys by 1,023.5% in the second quarter. FMR LLC now owns 799,897 shares of the restaurant operator’s stock valued at $12,406,000 after acquiring an additional 728,697 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Wendys by 92.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,434,000 shares of the restaurant operator’s stock valued at $22,270,000 after acquiring an additional 688,700 shares in the last quarter. 76.33% of the stock is currently owned by institutional investors and hedge funds.

In other Wendys news, insider Scott A. Weisberg purchased 10,000 shares of Wendys stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $14.29 per share, with a total value of $142,900.00. Following the completion of the transaction, the insider now owns 199,014 shares of the company’s stock, valued at $2,843,910.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.50% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.07 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.67%. Wendys’s payout ratio is currently 112.00%.

TRADEMARK VIOLATION NOTICE: This article was first posted by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.americanbankingnews.com/2018/01/05/wendys-co-to-post-q3-2018-earnings-of-0-18-per-share-suntrust-banks-forecasts-wen.html.

About Wendys

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.

Receive News & Ratings for Wendys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wendys and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply