Wendy’s Co WEN shares were rising in early trading on Monday, despite the company announcing on Friday downbeat first-quarter sales.

The announcement came amid an exciting earnings season. Here are some key analyst takeaways.

Truist Securities On Wendy’s

Analyst Jake Bartlett maintained a Buy rating, while reducing the price target from $17 to $16.

Wendy’s reported first-quarter adjusted EBITDA of $124.5 million, beating consensus of $122.1 million, Bartlett said in a note. He added, however, that U.S. same-store sales declined by 2.8%, worse than consensus of down 1.6%, while restaurant-level margins (RLM) of 14.3% also missed Street expectations of 14.5%.

US same-store sales decelerated sharply from the fourth quarter's 4.1% "due to adverse weather in January and February and a sharp macro pull-back in demand in March," the analyst wrote. Although management lowered their full-year systemwide sales growth guidance to -2% to flat, their prior projection of +2% to +3%, the company's "solid marketing plan" could partially offset macro headwinds, the analyst further stated.

RBC Capital Markets On Wendy’s

Analyst Logan Reich reiterated a Sector Perform rating with a price target of $14.

Wendy’s reported mixed results for the first quarter, with U.S. same-store sales being impacted by consumer softness, which seems to have continued into April, Reich said. While weather impacted sales during the first two months of the year, same-store sales "inflected to positive territory exiting February following the Thin Mint Frosty launch on 2/21," he added.

The deterioration in consumer sentiment and spending prompted management to lower their full-year guidance, the analyst stated. The guidance for company-owned margins were lowered by 100 basis points to 15%, "which could be partially attributed to tariffs in addition to softer top-line," he further wrote.

Check out other analyst stock ratings.

Stephens On Wendy’s

Analyst Jim Salera reaffirmed an Equal-weight rating and price target of $14.

Wendy’s total revenue of $523.5 million came in short of the consensus of $526.5 million, Salera said. The company's global same-store sales declined by 2.1%, worse than consensus of down 1%, he added.

The guidance reduction implies "softer same-store sales given the weaker-than-expected macro backdrop," the analyst wrote. Management lowered their 2025 earnings guidance to 92 cents-98 cents per share, from its prior projection of 98 cents-$1.02 per share, he further stated.

KeyBanc Capital Markets On Wendy’s

Analyst Eric Gonzalez maintained a Sector Weight rating on the stock.

Wendy's same-store sales growth fell short of expectations, "as weather and declining consumer sentiment weighed on domestic trends, Gonzalez said. The trends are expected to remain in the low-to-middle single-digit range in the current quarter, he added.

"As such, the Company lowered its full-year outlook for system sales, EBITDA, and EPS, which assumes the current industry malaise persists," the analyst wrote. Wendy's is planning menu innovation, brand collaborations and other initiatives that could boost momentum in the second half of the year, he further stated.

Oppenheimer On Wendy’s

Analyst Brian Bittner reiterated a Perform rating on the stock.

Wendy’s trimmed its 2025 EBITDA outlook to $530-$545 million, bringing it lower than Street expectations of $546 million, Bittner said. "This reflects a softer macro backdrop management has incorporated into its outlook for the remainder of the year," he wrote.

Although same-store sales turned positive in late February and early March, trends turned negative thereafter due to the uncertain macro, the analyst stated. Management’s new guidance reflects that the macro backdrop could remain soft for the rest of 2025, he added.

WEN Price Action: Shares of Wendy’s had risen by 1.79% to $12.78 at the time of publication on Monday.

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