Wendys Co (NYSE:WEN) updated its FY15 earnings guidance on Wednesday. The company provided EPS guidance of $0.31-0.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.32, Analyst Ratings Net reports.
Several research firms have weighed in on WEN. Wedbush lowered Wendys from an outperform rating to a neutral rating and dropped their price target for the stock from $13.00 to $12.00 in a research report on Thursday, June 4th. Sanford C. Bernstein reissued a market perform rating and issued a $11.65 target price (up previously from $10.40) on shares of Wendys in a research report on Saturday, June 6th. Zacks downgraded Wendys from a hold rating to a sell rating in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. upgraded Wendys from a neutral rating to an overweight rating and lifted their target price for the stock from $10.11 to $12.00 in a research note on Thursday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $10.90.
Shares of Wendys Co (NYSE:WEN) opened at 9.96 on Friday. The firm has a market capitalization of $3.62 billion and a PE ratio of 37.16. Wendys Co has a 12-month low of $7.61 and a 12-month high of $11.71. The company’s 50-day moving average price is $10.62 and its 200 day moving average price is $10.86.
Wendys (NYSE:WEN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of $0.09 by $0.01. The business earned $489.50 million during the quarter, compared to analyst estimates of $488.69 million. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. On average, equities analysts forecast that Wendys Co will post $0.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.21%.
In other Wendys news, Director Peter W. May sold 4,069,412 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $11.29, for a total value of $45,943,661.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Trian Fund Management, L.P. sold 3,591,889 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $11.29, for a total value of $40,552,426.81. The disclosure for this sale can be found here.
The Wendy’s Company is a quick-service restaurant company in the hamburger sandwich segment. The Wendy’s Company is the parent company of its wholly owned subsidiary holding company Wendy’s Restaurants, LLC (NYSE:WEN). 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 primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving food. 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. As of December 29, 2013, the Wendy’s restaurant system consisted of 6,557 restaurants, of which 1,183 were owned and operated by the Company.