Dallas, Texas 03/13/2014 (FINANCIALSTRENDS) – The Wendy’s Co (NASDAQ:WEN) is a quick-service restaurant company in the hamburger sandwich segment reported its fourth-quarter details. According to the reports, the company’s net income has increased by 25 percent at $33.1 million, compared to $26.4 million last year. This was due to significant drop in the expenses which declined to $563.5 million from $597.6 million last year. The company has also declared a quarterly dividend of $0.05 per share. The company’s net income has increased significantly around 6 times at $45.5 million compared to $7.1 million last year.
The Wendy’s Co (NASDAQ:WEN) Plans to Increase Company-operated Image Activation restaurants.
The company which has made a steady financial progress last year by introducing several successful new products and also accelerating the Wendy’s® brand transformation with Image Activation in it restaurants is rigorously planning to add more Company-operated Image Activation restaurants and also focusing on new franchise-operated Image Activation restaurants in 2014. By the end of 2017, the company targets to ensure 80% and above of its self-operated restaurants and 35 % of the North America system implement Image Activation.
The Wendy’s Co Price Target Raised by Argus
Accordingly to the quarterly data released by the company, it overtook Thomson Reuters consensus estimate of $0.06 by $0.05. The company’s revenue was $592.40 million for the quarter, compared to the consensus estimate of $611.32 million last year. Market analyst at Argus based on the company’s share coverage have rated the stock as “buy” and increased the price target from $10.00 to $12.00.
Other analysts have also shared their recommendations on the stock where eleven have rated it as “hold”, four as “buy” and one tagged it to “sell”. The company with average price target of $8.92 is has an average rating as “hold”.