Trading Report: The Citigroup Inc. Reiterates Buy Rating for Wendy’s Co. (WEN)

The Citigroup Inc. Reiterates Buy Rating for Wendy’s Co. (WEN)

Wendy’s Co. (NASDAQ:WEN)‘s stock had its “buy” rating reissued by equities research analysts at Citigroup Inc. in a research report issued on Wednesday. They currently have a $13.00 target price on the stock. Citigroup Inc.’s target price would indicate a potential upside of 23.34% from the company’s current price.

Several other equities analysts have also recently issued reports on WEN. Royal Bank Of Canada reiterated an “outperform” rating on shares of Wendy’s in a research report on Wednesday, June 22nd. Zacks Investment Research cut Wendy’s from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. RBC Capital Markets cut Wendy’s from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Stifel Nicolaus cut Wendy’s from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $12.00 to $11.00 in a research report on Tuesday, August 2nd. Finally, Vetr cut Wendy’s from a “strong-buy” rating to a “buy” rating and set a $11.21 price target on the stock. in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Wendy’s presently has a consensus rating of “Hold” and a consensus price target of $12.85.

Shares of Wendy’s (NASDAQ:WEN) traded up 0.38% during midday trading on Wednesday, reaching $10.58. The company’s stock had a trading volume of 438,391 shares. The stock has a market capitalization of $2.76 billion, a PE ratio of 20.39 and a beta of 0.81. Wendy’s has a 52 week low of $8.57 and a 52 week high of $11.38. The stock has a 50-day moving average price of $10.37 and a 200 day moving average price of $10.31.

10/05/citigroup-inc-reiterates-buy-rating-for-wendys-co-wen.html

Wendy’s (NASDAQ:WEN) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Wendy’s had a return on equity of 15.94% and a net margin of 8.59%. The company had revenue of $382.70 million for the quarter, compared to analysts’ expectations of $366.92 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 21.8% on a year-over-year basis. Equities analysts forecast that Wendy’s will post $0.40 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.06 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 2.28%. Wendy’s’s dividend payout ratio (DPR) is presently 45.28%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc boosted its stake in Wendy’s by 0.5% in the second quarter. Commonwealth Equity Services Inc now owns 53,006 shares of the company’s stock worth $510,000 after buying an additional 278 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in Wendy’s by 1.9% in the second quarter. Wesbanco Bank Inc. now owns 20,940 shares of the company’s stock worth $201,000 after buying an additional 385 shares during the last quarter. IBM Retirement Fund boosted its stake in Wendy’s by 3.1% in the second quarter. IBM Retirement Fund now owns 21,175 shares of the company’s stock worth $204,000 after buying an additional 645 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Wendy’s by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock worth $591,000 after buying an additional 755 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in Wendy’s by 8.9% in the second quarter. Stephens Inc. AR now owns 12,525 shares of the company’s stock worth $120,000 after buying an additional 1,025 shares during the last quarter. 81.02% of the stock is owned by hedge funds and other institutional investors.

Wendy’s Company Profile

Related posts

Leave a Comment