It’s a good start to your day if you are a shareholder of Wendy’s Co (NASDAQ:WEN), as the company reported solid fourth quarter earnings before the bell today. The fast food giant reported an adjusted earnings per share of $0.12, beating analyst estimates of $0.11 by a penny. On a revenue front, the company reported $464.4 million for the quarter, just shy of the $469.2 million that analysts had predicted.
For the full year Wendy’s Co (NASDAQ:WEN) reported an EPS of $0.49 on $1.87 billion in revenue. The news sent shares of Wendys’ stock considerably higher in the pre-market, where it is up $0.55 or 5.42%. It will be interesting to see how other fast food restaurant stocks react to this news as well.
The stock closed at $10.15 during the last trading session. It is down 4.52% since July 6, 2015 and is downtrending. It has outperformed the S&P500 by 4.35%.
From a total of 6 analysts covering The Wendy’s Company (NYSE:WEN) stock, 4 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $11 while the lowest target price is $10. The mean of all analyst targets is $10.60 which is 4.43% above today’s ($10.15) stock price. The Wendy’s Company was the topic of 6 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets upgraded shares on November 2 to a “Outperform” rating. Nomura initiated WEN stock in a recent report from October 2 with a “Neutral” rating. Finally, Credit Suisse upgraded the stock to a “Neutral” rating in a report they issued on an August 11.
The institutional sentiment decreased to 0.52 in Q2 2015. It’s down 0.51, from 1.03 in 2015Q2. The ratio fall, as 64 funds sold all their Wendys Co shares they owned while 114 reduced their positions. 40 funds bought stakes while 53 increased their total positions. Institutions now own 190.84 million shares which is 32.98% less than the previous share count of 284.72 million in 2015Q2.
Managed Asset Portfolios Llc holds 6.45% of its total portfolio in Wendys Co, equating to 1.45 million shares. Trian Fund Management L.P. owns 40.79 million shares representing 3.01% of their total US portfolio. Moreover, Horizon Kinetics Llc has 2.63% of their total portfolio invested in the company, equating to 16.77 million shares. The New York-based Caerus Global Investors Llc has a total of 2.21% of their portfolio invested in the stock. Olstein Capital Management L.P., a New York-based fund reported 1.18 million shares owned.
The Wendy’s Company is the parent company of its wholly owned subsidiary holding firm Wendy’s Restaurants, LLC . The company has a market cap of $2.70 billion. Wendy’s Restaurants is the parent firm of Wendy’s International, LLC (Wendy’s), which is the owner and franchisor of the Wendy’s restaurant system in the United States. It has 43.84 P/E ratio. Wendy’s is the quick-service restaurant firm in the hamburger sandwich segment.