Wendy's (NASDAQ:WEN) Stock, Quote.Headers.trade-ideas

Wendy's

The Wendy's Company is the second-largest burger quick-service restaurant, or QSR, chain in the United States by systemwide sales, with $12.3 billion in 2023, narrowly edging Burger King ($11.5 billion) and clocking in well behind wide-moat McDonald's ($53.1 billion). After divestitures of Tim Hortons (2006) and Arby's (2011), the firm manages just the burger banner, generating sales across a footprint that spanned almost 7,157 total stores in 30 countries as of year-end 2023. Wendy's generates revenue from the sale of hamburgers, chicken sandwiches, salads, and fries throughout its company-owned footprint, through franchise royalty and marketing fund payments remitted by its franchisees, which account for 94% of stores, and through franchise flipping and advisory fees.

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Wall Street&#39;s Most Accurate Analysts Weigh In On 3 Consumer Stocks With Over 5% Dividend Yields

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Palantir Technologies shares are up premarket. The company announced a  new partnership with Wendy&#39;s Quality Supply Chain Co-op to drive digital transformation and AI adoption in their supply chain operations.

What&#39;s Going On With Palantir Stock Today?

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WEN reports 2Q 2024 revenue of $570.7M, missing estimates. Adjusted revenues up 0.9%. Global same-restaurant sales up 0.8%. Operating profit declines 9%.

Wendy&#39;s Q2 Performance: Revenue Below Expectations, Increased Costs Impact Operating Profit

The Wendy's Co

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Shares of restaurant companies are trading higher following the Fed's rate cut, which could boost industry traffic through an increase in consumer discretionary incomes.

JP Morgan analyst John Ivankoe maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Neutral and raises the price target from $20 to $22.

JP Morgan Maintains Neutral on Wendy's, Raises Price Target to $22

TD Cowen analyst Andrew Charles reiterates Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Hold and maintains $17 price target.

Reiteration

TD Cowen Reiterates Hold on Wendy's, Maintains $17 Price Target

Analysts' ratings for Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) over the last quarter vary from bullish to bearish, as provided by 21 analysts.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">16</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">12</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $19.52, with a high estimate of $29.00 and a low estimate of $16.00. Experiencing a 6.02% decline, the current average is now lower than the previous average price target of $20.77. 
<img src="https://www.benzinga.com/files/images/story/2024/1725883250_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Wendy's's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Andrew Charles</td>
<td>TD Cowen</td>
<td>Maintains</td>
<td>Hold</td>
<td>$17.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Jim Salera</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$19.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Maintains</td>
<td>Buy</td>
<td>$29.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Nick Setyan</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$19.50</td>
</tr>
<tr>
<td>Lauren Silberman</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$18.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Chris O'Cull</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$19.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Andrew Strelzik</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$19.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Jeffrey Bernstein</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$18.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Brian Mullan</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$19.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Nick Setyan</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$19.50</td>
</tr>
<tr>
<td>Jim Salera</td>
<td>Stephens &amp; Co.</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$19.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Nick Setyan</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$19.50</td>
<td>$19.50</td>
</tr>
<tr>
<td>Jim Salera</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Nick Setyan</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$19.50</td>
<td>$21.00</td>
</tr>
<tr>
<td>Andrew Charles</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$17.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>John Glass</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$19.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Alton Stump</td>
<td>Loop Capital</td>
<td>Maintains</td>
<td>Buy</td>
<td>$26.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>Jim Salera</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jake Bartlett</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Andrew Charles</td>
<td>TD Cowen</td>
<td>Maintains</td>
<td>Hold</td>
<td>$19.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Sell</td>
<td>$16.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Wendy's. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Wendy's compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Wendy's's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Wendy's's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WEN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Wendy's analyst ratings.</a>
<h2>About Wendy's</h2>
The Wendy's Company is the second-largest burger quick-service restaurant, or QSR, chain in the United States by systemwide sales, with $12.3 billion in 2023, narrowly edging Burger King ($11.5 billion) and clocking in well behind wide-moat McDonald's ($53.1 billion). After divestitures of Tim Hortons (2006) and Arby's (2011), the firm manages just the burger banner, generating sales across a footprint that spanned almost 7,157 total stores in 30 countries as of year-end 2023. Wendy's generates revenue from the sale of hamburgers, chicken sandwiches, salads, and fries throughout its company-owned footprint, through franchise royalty and marketing fund payments remitted by its franchisees, which account for 94% of stores, and through franchise flipping and advisory fees.
<h3>Wendy's: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Wendy's's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 1.63%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 9.57%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Wendy's's ROE stands out, surpassing industry averages. With an impressive ROE of 19.26%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Wendy's's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.06%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a high debt-to-equity ratio of 14.99, Wendy's faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: What Are They?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 21 Takes On Wendy's

Stephens &amp; Co. analyst Jim Salera reiterates Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Equal-Weight and maintains $19 price target.

Stephens & Co. Reiterates Equal-Weight on Wendy's, Maintains $19 Price Target

Nelson Peltz Appointed Chairman Emeritus
DUBLIN, Ohio, Sept. 6, 2024 /PRNewswire/ -- The Wendy's Company (Nasdaq:&nbsp;WEN) today announced that its Board of Directors has appointed Arthur B. Winkleblack as non-executive Chairman of the Board. He succeeds Nelson Peltz, who has been named Chairman Emeritus in recognition of his long-time leadership, counsel, guidance and contributions to the Board and the Company.
Winkleblack has served as Lead Independent Director since October 2023 and has been a member of the Board since 2016. He also serves as Chairman of the Nominating and Corporate Governance Committee and as a member of the Audit Committee, where he is a past Chairman. Mr. Winkleblack has also been appointed as Chairman of the Executive Committee.
Peltz has served as non-executive Chairman of the Board since 2007. He is stepping down to devote more time to his other board commitments and Trian's future activities.

Management

The Wendy's Company Appoints Arthur Winkleblack As Non-Executive Chairman Of The Board, Succeeding Nelson Peltz, Who Has Been Named Chairman Emeritus

Tigress Financial analyst Ivan Feinseth maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Buy and maintains $29 price target.

Tigress Financial Maintains Buy on Wendy's, Maintains $29 Price Target

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments">high dividend payout.</a>
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer discretionary sector.
<h3 class="wp-block-heading">Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>)</h3>
<ul>
<li>Dividend Yield: 10.14%</li>
<li>JP Morgan analyst Matthew Boss maintained a Neutral rating and cut the price target from $25 to $20 on May 31. This analyst has an accuracy rate of 67%.</li>
<li>Evercore ISI Group analyst Michael Binetti maintained an In-Line rating and slashed the price target from $24 to $22 on May 31. This analyst has an accuracy rate of 62%.</li>
<li>Recent News: On Aug. 13, The Board of Directors of Kohl&#8217;s declared a regular quarterly dividend of 50 cents per share.</li>
<li>Benzinga Pro&#8217;s real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"> latest KSS news. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="910" height="823" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21075434/image-179.png" alt="" class="wp-image-505911" style="width:699px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21075434/image-179.png 910w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21075434/image-179-300x271.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21075434/image-179-768x695.png 768w" sizes="(max-width: 910px) 100vw, 910px" /></a></figure>
<h3 class="wp-block-heading">The Wendy&#8217;s Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>)</h3>
<ul>
<li>Dividend Yield: 5.89%</li>
<li>Deutsche Bank analyst Lauren Silberman maintained a Hold rating and cut the price target from $20 to $18 on Aug. 2. This analyst has an accuracy rate of 75%.</li>
<li>Stifel analyst Chris O'Cull maintained a Hold rating on Aug. 2. This analyst has an accuracy rate of 73%.</li>
<li>Recent News: On Aug. 1, Wendy's reported second-quarter 2024 revenue growth of 1.6% year-over-year to $570.7 million, missing the analyst consensus estimate of $577.371 million.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">trend in WEN stock.</a> </li>
</ul>
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<h3 class="wp-block-heading">Guess?, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GES#NYSE">GES</a>)</h3>
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<li>Dividend Yield: 5.73%</li>
<li>B. Riley Securities analyst Jeff Lick reiterated a Buy rating and raised the price target from $33 to $37 on April 8. This analyst has an accuracy rate of 66%.</li>
<li>Jefferies analyst Corey Tarlowe maintained a Hold rating and increased the price target from $24 to $29 on March 21. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: Guess? named Dennis Secor as interim CFO starting Aug. 26.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">breakout in GES shares</a>. </li>
</ul>
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Wall Street's Most Accurate Analysts Weigh In On 3 Consumer Stocks With Over 5% Dividend Yields

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading higher on Wednesday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, PLTR stock has gained over 47% in the past year. Investors can gain exposure to the stock via&nbsp;REX AI Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIPI#NASDAQ">AIPI</a>) and&nbsp;Global X Funds Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>).
Today, the company inked a pact with Wendy&#8217;s Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) Quality Supply Chain Co-op (QSCC) to accelerate digital transformation, AI adoption, and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40215269/from-the-farm-to-the-frosty-palantir-and-wendys-partner-on-ai-and-supply-chain-digitalization" rel="noreferrer noopener">operational decision-making across the Co-op.</a>
QSCC is the independent purchasing cooperative for the Wendy&#8217;s&nbsp;System based in Dublin, Ohio.
&#8220;Together with Palantir, we&#8217;re unlocking the inherent power of the supply chain ecosystem to drive new and compelling sales and operating efficiencies that will provide Wendy&#8217;s with a distinctive edge in the industry,&#8221; said Pete Suerken, QSCC President and CEO.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40155365/zelle-controversy-heats-up-jpmorgan-considers-legal-action" rel="noreferrer noopener">Zelle Controversy Heats Up: JPMorgan Considers Legal Action</a>
Palantir has established partnerships throughout the food industry and has a demonstrated history of enhancing operations and supply chains with AI-driven solutions.
This partnership will advance QSCC toward a fully integrated Supply Chain Network, unlocking opportunities for AI-driven, automated workflows and a future-connected ecosystem of Wendy&#8217;s suppliers, distributors, and restaurants.
By evolving QSCC into a digitally advanced organization, cost savings and efficiencies will be realized, benefiting all Wendy&#8217;s operators it supports. As the second largest purchasing cooperative in the Quick Service Restaurant (QSR) industry, QSCC services over 6,400 Wendy&#8217;s restaurants across the U.S. and Canada.
&#8220;Our AI operating system powers many of America&#8217;s most important companies, giving them a technology-driven competitive advantage, and we are excited to continue to grow in the QSR sector with this iconic brand and an ambitious vision,&#8221; said Ted Mabrey, Head of Global Commercial at Palantir.
Price Action: PLTR shares are trading higher by 1.69% to $27.04 premarket at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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What's Going On With Palantir Stock Today?

Palantir Technologies And Wendy's Quality Supply Chain Co-op (QSCC) Announced They Have Partnered To Accelerate Digital Transformation, AI Adoption And Operational Decision Making Across The Co-Op

Wedbush analyst Nick Setyan maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Neutral and lowers the price target from $19.5 to $18.

Wedbush Maintains Neutral on Wendy's, Lowers Price Target to $18

Deutsche Bank analyst Lauren Silberman maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Hold and lowers the price target from $20 to $18.

Deutsche Bank Maintains Hold on Wendy's, Lowers Price Target to $18

Stifel analyst Chris O'Cull maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Hold and lowers the price target from $20 to $19.

Stifel Maintains Hold on Wendy's, Lowers Price Target to $19

BMO Capital analyst Andrew Strelzik maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Market Perform and lowers the price target from $22 to $19.

BMO Capital Maintains Market Perform on Wendy's, Lowers Price Target to $19

Barclays analyst Jeffrey Bernstein maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Equal-Weight and lowers the price target from $20 to $18.

Barclays Maintains Equal-Weight on Wendy's, Lowers Price Target to $18

Piper Sandler analyst Brian Mullan maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Overweight and lowers the price target from $23 to $19.

Piper Sandler Maintains Overweight on Wendy's, Lowers Price Target to $19

Stephens &amp; Co. analyst Jim Salera maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Equal-Weight and lowers the price target from $20 to $19.

Stephens & Co. Maintains Equal-Weight on Wendy's, Lowers Price Target to $19

The Wendy&#8217;s Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) reported second-quarter 2024 revenue growth of 1.6% year-over-year to $570.7 million, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40095055/the-wendys-company-reports-second-quarter-2024-results" rel="noreferrer noopener">missing the analyst consensus estimate of $577.371 million.</a>
Adjusted revenues increased 0.9% to $455.7 million. Systemwide sales in the U.S. rose 1.7%, and International increased 8.3%.
Global same-restaurant sales growth was 0.8%. U.S. company-operated restaurant margin was 16.5% versus 17.3% a year ago.
&#8220;Our restaurants across the globe continued to deliver same-restaurant sales growth, holding steady with the QSR burger category in the second quarter,&#8221; commented President and Chief Executive Officer Kirk Tanner.
Operating profit for the quarter declined 9% year over year to $99.5 million. Adjusted EBITDA was $143.1 million versus $144.5 million year over year.
Operating profit decreased due to increased breakfast advertising costs, higher depreciation, cloud-computing amortization, and lower U.S. restaurant margins.
Adjusted EPS of $0.27 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the consensus estimate of $0.28.</a>
As of June-end, the company held $700.25 million in cash, cash equivalents, and restricted cash. Operating cash flow for the six months ended June 30 totaled $145.46 million, with a free cash flow of $124.35 million.
In the&nbsp;third quarter&nbsp;of 2024, the company repurchased 0.9&nbsp;million shares for&nbsp;$15.6 million&nbsp;through&nbsp;July 25. Approximately&nbsp;$260.0 million&nbsp;remains available as of&nbsp;July 25 under the company&#8217;s existing share repurchase authorization that expires in&nbsp;February 2027.
Dividend: The company declared its regular quarterly cash dividend to $0.25 per share, payable on September 17 to shareholders of record as of September 3.
2024 Outlook: Wendy&#8217;s continues to expect adjusted EPS of $0.98-$1.02 versus the consensus of <a href="https://www.benzinga.com/calendars/guidance">$0.99 and adjusted EBITDA of $535 million-$545 million.</a>
WEN now sees Global systemwide sales growth of 3% to 5%, cash flows from operations of $365 million to $385 million, and free cash flow of $275 million to $285 million.
Price Action: WEN shares are trading lower by 2.24% at $16.55 at the last check Thursday.
Photo via Shutterstock

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