Today: Today: Wendy’s Co. (WEN) Upgrade to “Buy” at Argus

Today: Wendy’s Co. (WEN) Upgrade to “Buy” at Argus

Argus upgraded shares of Wendy’s Co. (NASDAQ:WEN) from a hold rating to a buy rating in a report released on Friday. They currently have $15.00 price objective on the stock.

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

Wendy’s (NASDAQ:WEN) opened at 12.99 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of 18.88 and a beta of 0.79. The firm’s 50-day moving average price is $11.26 and its 200-day moving average price is $10.40. Wendy’s has a 52 week low of $8.89 and a 52 week high of $13.13.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 29th. This is a boost from Wendy’s’s previous quarterly dividend of $0.06. Wendy’s’s dividend payout ratio (DPR) is 35.29%.

Hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of Wendy’s by 0.7% in the third quarter. LS Investment Advisors LLC now owns 13,412 shares of the company’s stock valued at $145,000 after buying an additional 88 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Wendy’s by 0.5% in the second quarter. Commonwealth Equity Services Inc now owns 53,006 shares of the company’s stock valued at $510,000 after buying an additional 278 shares in the last quarter. Wesbanco Bank Inc. raised its stake in shares of Wendy’s by 1.9% in the second quarter. Wesbanco Bank Inc. now owns 20,940 shares of the company’s stock valued at $201,000 after buying an additional 385 shares in the last quarter. AMG National Trust Bank raised its stake in shares of Wendy’s by 1.3% in the third quarter. AMG National Trust Bank now owns 37,390 shares of the company’s stock valued at $404,000 after buying an additional 468 shares in the last quarter. Finally, IBM Retirement Fund raised its stake in shares of Wendy’s by 3.1% in the second quarter. IBM Retirement Fund now owns 21,175 shares of the company’s stock valued at $204,000 after buying an additional 645 shares in the last quarter. 84.91% of the stock is currently owned by institutional investors and hedge funds.

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