Trading Report: Today, Wendy’s Co. (WEN) Upgrade to “Buy” by Argus

Today, Wendy’s Co. (WEN) Upgrade to “Buy” by Argus

Wendy’s Co. (NASDAQ:WEN) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $15.00 price objective on the stock. Argus’ target price indicates a potential upside of 17.55% from the company’s current price.

WEN has been the topic of several other research reports. Vetr downgraded shares of Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price objective on the stock. in a research note on Monday, August 15th. Stifel Nicolaus cut Wendy’s from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Goldman Sachs Group Inc. cut Wendy’s from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $12.50 to $11.00 in a research report on Thursday, August 11th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $11.50 target price on shares of Wendy’s in a research report on Thursday, November 10th. Finally, Royal Bank Of Canada cut Wendy’s from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $12.05.

Wendy’s (NASDAQ:WEN) opened at 12.76 on Friday. Wendy’s has a 12 month low of $8.89 and a 12 month high of $13.02. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 18.55 and a beta of 0.79. The company has a 50-day moving average of $11.18 and a 200-day moving average of $10.38.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $364 million for the quarter, compared to the consensus estimate of $350.35 million. Wendy’s had a net margin of 11.74% and a return on equity of 16.62%. Wendy’s’s quarterly revenue was down 21.7% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. Analysts predict that Wendy’s will post $0.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Wendy’s’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, November 29th. Wendy’s’s dividend payout ratio (DPR) is presently 35.29%.

Institutional investors have recently bought and sold shares of the company. RS Investment Management Co. LLC raised its position in Wendy’s by 87.2% in the second quarter. RS Investment Management Co. LLC now owns 3,276,030 shares of the company’s stock valued at $31,515,000 after buying an additional 1,526,300 shares during the last quarter. Fort Pitt Capital Group LLC boosted its position in Wendy’s by 5.9% in the second quarter. Fort Pitt Capital Group LLC now owns 1,389,885 shares of the company’s stock valued at $13,371,000 after buying an additional 77,157 shares during the period. Victory Capital Management Inc. boosted its position in Wendy’s by 17.6% in the second quarter. Victory Capital Management Inc. now owns 43,587 shares of the company’s stock valued at $419,000 after buying an additional 6,520 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Wendy’s during the second quarter valued at $137,000. Finally, BNP Paribas Arbitrage SA boosted its position in Wendy’s by 4,115.4% in the second quarter. BNP Paribas Arbitrage SA now owns 99,441 shares of the company’s stock valued at $957,000 after buying an additional 97,082 shares during the period. Institutional investors own 81.84% of the company’s stock.

About Wendy’s

Related posts

Leave a Comment