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WEN

Wendy's

$15.22

-0.25 (-1.62%)

09:21
08/09/17
08/09
09:21
08/09/17
09:21

Wendy's says expects IA to be 80bp tailwind for FY17

Wendy's said on its Q2 earnings call that for 2017, it now expects commodity cost inflation of approximately 3%-4% compared to 2016 and adjusted EBITDA of approximately $404M-$410M, an increase of approximately 3%-5% compared to 2016. Wendy's also sees labor inflation of approximately 4% and free cash flow of $160M-$185M. The company also said it continues to expect to achieve its 2020 goals, including global systemwide sales of about $12B, global restaurant count of about 7,500, global image activation of at least 70%, adjusted EBITDA margin of 38%-40% and free cash flow of about $275M.Says "image activating" about 10 restaurants per week, expects to be 42% complete by the end of the year. The company said it expects IA to be 80bp tailwind for FY17. Expects kiosks to be in 300 restaurants by the end of the year, a step down from prior expectations. Wendy's also said returning cash to shareholders is a "top priority." Comments taken from the Q2 earnings conference call. Wendy's is up 2.4% in premarket trading.

  • 09

    Aug

WEN Wendy's
$15.22

-0.25 (-1.62%)

04/21/17
BMOC
04/21/17
INITIATION
Target $17
BMOC
Outperform
Wendy's initiated with an Outperform at BMO Capital
BMO Capital analyst Andrew Strelzik initiated Wendy's with an Outperform and a $17 price target. The analyst views Wendy's as attractive opportunity given its more defensible premium positioning, strong visibility into achieving long-term targets after structural business model enhancements, and discounted valuation.
04/21/17
04/21/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Plains All American (PAA) initiated with an Outperform at Macquarie. 2. Wendy's (WEN) and McDonald's (MCD) were initiated with an Outperform at BMO Capital while Yum! Brands (YUM) was initiated with a Market Perform. 3. Cedar Fair (FUN), Six Flags (SIX), and SeaWorld (SEAS) were initiated with a Buy at Stifel. 4. Domino's Pizza (DPZ) initiated with a Buy at Guggenheim. 5. Cidara Therapeutics (CDTX) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/11/17
RHCO
05/11/17
NO CHANGE
RHCO
Wendy's price target raised to $18 from $16 at SunTrust
SunTrust analyst Jake Bartlett continues to expect Wendy's stock to rise, driven by SSS outperformance, new restaurants, and cost cutting. The analyst noted that the company's SSS rose 1.6%, outperforming peers excluding McDonald's (MCD) SSS gain of 0.4%. Bartlett expects the company to continue to do well in 2H17 and he keeps a Buy rating on the shares.
05/11/17
SPHN
05/11/17
NO CHANGE
Target $18
SPHN
Overweight
Wendy's price target raised to $18 from $16 at Stephens
Stephens analyst Will Slabaugh said he continues to be impressed by the top-line consistency at Wendy's, which he credits to the continued success of its value offerings and marketing. The analyst, who sees the company winning at both the value and premium ends of the menu, raised his price target on Wendy's to $18 from $16 following its Q1 report and keeps an Overweight rating on the shares.

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