Fast food giant The Wendy's Company (
) on Tuesday posted first quarter earnings that missed Wall Street
expectations and lowered its full-year outlook.
The Dublin, OH-based company reported first quarter net income
of $12.4 million, or 3 cents per share, compared with a net loss of
$1.4 million, or breakeven per share, in the year-ago period.
Excluding one-time gains, adjusted profit was 1 cent per share.
Revenue rose 2% from last year to $593.2 million.
On average, Wall Street analysts expected a higher profit of 3
cents per share, on larger revenue of $608.1 million.
Looking ahead, WEN said it now expects full-year adjusted 2012
earnings of $320 million to $335 million, down from a prior outlook
of $335 million to $345 million.
Wendy's shares fell 12 cents, or -2.5%, in premarket trading
The Bottom Line
Shares of Wendy's (
) have a 1.64% dividend yield, based on last night's closing stock
price of $4.87. The stock has technical support in the $4.20-$4.40
price area. If the shares can firm up, we see overhead resistance
around the $5.00-$5.40 price level.
The Wendy's Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 2.8 out of 5 stars.
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