Wendys Co (WEN) reported quarterly earnings results on Wednesday, Aug-10-2016. The company said it had a profit of $0.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.09. The company posted revenue of $382.70 million in the period, compared to analysts expectations of $366.92 million. The company’s revenue was down -21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.
Many Wall Street Analysts have commented on Wendys Co. Shares were Downgraded by RBC Capital Mkts on Aug 2, 2016 to ” Sector Perform” and Lowered the Price Target to $ 11 from a previous price target of $12 .Wendys Co was Downgraded by Nomura to ” Neutral” on Jun 22, 2016.
Wendys Co opened for trading at $9.95 and hit $10.18 on the upside on Monday, eventually ending the session at $10.04, with a gain of 1.41% or 0.14 points. The heightened volatility saw the trading volume jump to 49,52,303 shares. Company has a market cap of $2,676 M.
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 Wendys Company is the parent company of its wholly owned subsidiary holding company Wendys Restaurants LLC (Wendys Restaurants). Wendys Restaurants is the parent company of Wendys International LLC (Wendys) which is the owner and franchisor of the Wendys restaurant system in the United States. Wendys is the quick-service restaurant company in the hamburger sandwich segment. Wendys is primarily engaged in the business of operating developing and franchising a system of distinctive quick-service restaurants serving food. Wendys Restaurants is the parent company of Wendys International LLC (Wendys) which is the owner and franchisor of the Wendys restaurant system in the United States.