Wendy’s (NASDAQ:WEN) Price Target Cut to $17.00 by Analysts at UBS Group

Wendy’s (NASDAQ:WEN) had its target price cut by UBS Group from $20.00 to $17.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the restaurant operator’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Wendy’s from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and issued a $19.00 price target on shares of Wendy’s in a research note on Tuesday, November 19th. Wolfe Research raised shares of Wendy’s to a “strong-buy” rating in a research report on Friday, September 13th. TD Cowen boosted their price objective on shares of Wendy’s from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Citigroup boosted their price objective on shares of Wendy’s from $18.00 to $18.75 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.14.

Wendy’s Stock Down 1.4 %

Shares of NASDAQ WEN opened at $15.18 on Tuesday. The company has a debt-to-equity ratio of 12.64, a quick ratio of 2.08 and a current ratio of 2.10. Wendy’s has a 52-week low of $15.03 and a 52-week high of $20.65. The firm has a 50 day moving average price of $17.58 and a 200 day moving average price of $17.50. The stock has a market cap of $3.09 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.42 and a beta of 0.78.

Wendy’s (NASDAQ:WEN) last announced its quarterly earnings results on Thursday, October 31st. The restaurant operator reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Wendy’s had a net margin of 8.76% and a return on equity of 70.02%. The firm had revenue of $566.70 million for the quarter, compared to analyst estimates of $560.50 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. Analysts expect that Wendy’s will post 0.99 EPS for the current year.

Wendy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 6.59%. Wendy’s’s payout ratio is 105.26%.

Hedge Funds Weigh In On Wendy’s

Several institutional investors and hedge funds have recently modified their holdings of WEN. Victory Capital Management Inc. increased its holdings in shares of Wendy’s by 12.7% in the second quarter. Victory Capital Management Inc. now owns 894,424 shares of the restaurant operator’s stock valued at $15,169,000 after purchasing an additional 100,456 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Wendy’s by 1.5% in the second quarter. Arizona State Retirement System now owns 48,893 shares of the restaurant operator’s stock worth $829,000 after acquiring an additional 711 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Wendy’s by 7.8% in the second quarter. AGF Management Ltd. now owns 135,270 shares of the restaurant operator’s stock worth $2,294,000 after acquiring an additional 9,790 shares during the last quarter. Federated Hermes Inc. raised its holdings in Wendy’s by 83.0% in the 2nd quarter. Federated Hermes Inc. now owns 438,952 shares of the restaurant operator’s stock valued at $7,445,000 after buying an additional 199,078 shares during the last quarter. Finally, SYM FINANCIAL Corp bought a new position in Wendy’s in the 2nd quarter valued at approximately $232,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Wendy’s Company Profile

The Wendy's Company, together with its subsidiaries, operates as a quick-service restaurant company in the United States and internationally. It operates through Wendy's U.S., Wendy's International, and Global Real Estate & Development segments. The company is involved in operating, developing, and franchising a system of quick-service restaurants specializing in hamburger sandwiches.