Brokerage firm Nomura Downgrades its rating on Wendys Co(NASDAQ:WEN). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Nomura was issued on Jun 22, 2016.
In a different note, On May 26, 2016, Bernstein said it Assumes its rating on Wendys Co. The shares have been rated ‘Market Perform’ by the firm. Evercore ISI Group said it Initiates Coverage on Wendys Co, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Buy’ by the firm.
Wendys Co (WEN) shares turned negative on Mondays trading session with the shares closing down -0.35 points or -3.62% at a volume of 53,88,910. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.6. The peak price level was also seen at $9.6 while the days lowest was $9.15. Finally the shares closed at $9.31. The 52-week high of the shares is $11.38 while the 52-week low is $8.43. According to the latest information available, the market cap of the company is $2,481 M.
Wendys Co(WEN) last announced its earnings results on May 11, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $378.79M. Analysts had an estimated revenue of $351.97M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.06.
Several Insider Transactions has been reported to the SEC. On May 16, 2016, Todd Allan Penegor (CFO) purchased 10,000 shares at $10.48 per share price.Also, On May 16, 2016, Gunther Plosch (CFO) purchased 20,000 shares at $10.50 per share price.On Jul 1, 2015, Nelson Peltz (director 10% owner) sold 1,738,577 shares at $11.37 per share price, according to the Form-4 filing with the securities and exchange commission.
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.