Wendys Co (WEN) is Downgraded by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 11

Wendys Co (WEN) was Downgraded by RBC Capital Mkts to ” Sector Perform” while Lowering the Price Target of the company shares to $ 11 from a previous price target of $12 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Wendys Co. Wendys Co was Downgraded by Nomura to ” Neutral” on Jun 22, 2016.

On the company’s financial health, Wendys Co reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 11, 2016. Analyst had a consensus of $0.06. The company had revenue of $378.80 million for the quarter, compared to analysts expectations of $350.46 million. The company’s revenue was down -16.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.06 EPS.

Wendys Co closed down -0.08 points or -0.82% at $9.66 with 49,35,834 shares getting traded on Friday. Post opening the session at $9.7, the shares hit an intraday low of $9.6 and an intraday high of $9.77 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 16, 2016, Todd Allan Penegor (CFO) purchased 10,000 shares at $10.48 per share price. According to the SEC, on May 16, 2016, Gunther Plosch (CFO) purchased 20,000 shares at $10.50 per share price.

The Wendy’s Company is the parent company of its wholly owned subsidiary holding company Wendy’s Restaurants LLC (Wendy’s Restaurants). Wendy’s Restaurants is the parent company of Wendy’s International LLC (Wendy’s) which is the owner and franchisor of the Wendy’s restaurant system in the United States. Wendy’s is the quick-service restaurant company in the hamburger sandwich segment. Wendy’s is primarily engaged in the business of operating developing and franchising a system of distinctive quick-service restaurants serving food. Wendy’s Restaurants is the parent company of Wendy’s International LLC (Wendy’s) which is the owner and franchisor of the Wendy’s restaurant system in the United States.

Wendys Co

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