Wendy’s Co [NASDAQ: WEN] slipped around -0.1 points on Wednesday, while shares priced at $17.87 at the close of the session, down -0.56%. The company report on February 15, 2024 at 7:00 AM that THE WENDY’S COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS.
The Wendy’s Company (Nasdaq: WEN) today reported unaudited results for the fourth quarter and full year ended December 31, 2023.
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“The Wendy’s® system delivered strong sales, profit, and cash flow growth in 2023, all supported by progress on our strategic growth pillars,” President and Chief Executive Officer Kirk Tanner said. “2023 marked the brand’s 13th consecutive year of global same-restaurant sales growth, highlighting the system’s consistent execution and strong franchisee alignment as the team continued to grow the beloved Wendy’s brand. The team also significantly accelerated digital sales, opened nearly 250 new restaurants across the globe, and expanded U.S. Company-operated restaurant margin to pre-COVID levels despite extreme inflationary headwinds in recent years.
Compared to the average trading volume of 2.71M shares, WEN reached a trading volume of 5304601 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Wendy’s Co [WEN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WEN shares is $20.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WEN stock is a recommendation set at 2.57. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Wendy’s Co shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on Feb-22-24. The new note on the price target was released on January 16, 2024, representing the official price target for Wendy’s Co stock. Previously, the target price had yet another drop from $23 to $21, while Barclays kept a Equal Weight rating on WEN stock.
The Average True Range (ATR) for Wendy’s Co is set at 0.45, with the Price to Sales ratio for WEN stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 11.85, with the Price to Cash per share for the same quarter was set at 2.68. Price to Free Cash Flow for WEN in the course of the last twelve months was 14.16 with Quick ratio for the last quarter at 2.18.
How has WEN stock performed recently?
Wendy’s Co [WEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.54. With this latest performance, WEN shares dropped by -5.80% in over the last four-week period, additionally sinking by -13.46% over the last 6 months – not to mention a drop of -21.97% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WEN stock in for the last two-week period is set at 31.63, with the RSI for the last a single of trading hit 25.87, and the three-weeks RSI is set at 35.77 for Wendy’s Co [WEN]. The present Moving Average for the last 50 days of trading for this stock 19.29, while it was recorded at 18.51 for the last single week of trading, and 20.36 for the last 200 days.
Wendy’s Co [WEN]: Deeper insight into the fundamentals
Wendy’s Co’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.18 and a Current Ratio set at 2.19.
Earnings analysis for Wendy’s Co [WEN]
With the latest financial reports released by the company, Wendy’s Co posted 0.21/share EPS, while the average EPS was predicted by analysts to be reported at 0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wendy’s Co go to 11.50%.
Insider trade positions for Wendy’s Co [WEN]
The top three institutional holders of WEN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WEN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WEN stock with ownership which is approximately 5.8325%.
