The Wendy's Company (NASDAQ:WEN) is scheduled to serve up its second-quarter earnings before the opening bell Wednesday when investors will be watching for clues to the health of the fast food sector.
Wall Street projects revenue of $566.95 million and earnings of $0.27 per share, compared to $537.78 million and $0.23 per share a year earlier, respectively. The fast food company has beaten earnings expectations in each of the past four quarters.
Wendy’s board member Matthew Peltz caught investors’ attention in June when he sold 443,725 shares of the company’s stock at an average price of $22.76 for a total of more than $10 million, according to reports.
Nelson Peltz, the board’s chairman and Matthew’s father, sold 529,417 shares in May at an average price of $22.73 per share for a total of more than $12 million.
Matthew and Nelson Peltz currently hold about 20.7 million and 21.2 million shares, respectively.
Shares of Wendy’s traded 1.1% higher Monday to $21.83.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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