Wendy's (WEN) PT Raised to $15 at Instinet Following 1Q Beat
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Go back to Wendy's (WEN) PT Raised to $15 at Instinet Following 1Q Beat
May 11, 2017 6:45 AM EDT
RBC Capital analyst, David Palmer, reiterated his Sector Perform rating on shares of Wendy's (NASDAQ: WEN) and raised the price target to $16 (from $14) after lower G&A ($211m vs. $210220m range guidance) and fees from 75 incremental buy and flips offset higher food costs and slightly higher share count. The... More
May 10, 2017 7:44 AM EDT
(Reuters) - Wendy's Co (NASDAQ: WEN) reported quarterly same-restaurant sales and profit that topped estimates, driven by the popularity of its value meals and lower costs, sending its shares to their highest in nearly a decade in morning trading on Wednesday.
The U.S. burger chain has been promoting its value meals such as "4 for $4" to attract diners, as grocery prices have fallen in recent months, encouraging more people to cook at home.
Wendy's in January added the Double Stack cheeseburger, which includes a burger, chicken nuggets, a small serving of fries and... More
May 10, 2017 7:31 AM EDT
Wendy's (NASDAQ: WEN) reported Q1 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $285.8 million versus the consensus estimate of $282.47 million.
Total revenues were $285.8 million in the first quarter of 2017, compared to $378.8 million in the first quarter of 2016. The 24.6 percent decrease resulted primarily from the ownership of 301 fewer Company-operated restaurants at the end of the first quarter 2017 compared to the beginning of the first quarter 2016, which resulted in fewer sales at Company-operated restaurants, partly offset by higher franchise royalty revenue and fees and franchise rental...
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