Why Wendy's Stock Is Trading Higher Today

Wendy's Co WEN is trading higher Wednesday morning after the fast food chain announced better-than-expected earnings results.

What Happened: Wendy's announced earnings of 20 cents per share, which beat the estimate of 14 cents per share, and revenue of $460.2 million, which beat the estimate of $444.31 million.

Wendy's raised its quarterly dividend from 9 cents per share to 10 cents per share. The company also added $50 million to its share buyback, bringing the total repurchase to $150 million.

See Also: Wendy's Adds Bourbon Bacon Cheeseburger To Menu

“We are increasing our 2021 financial outlook meaningfully across all key financial metrics, driven by an outstanding first quarter that underscores our continued momentum and the overall strength of our business,” said Todd Penegor, president and CEO of Wendy's.

Price Action: Wendy's traded as high as $24.91 and as low as $18.86 over a 52-week period. At last check Wednesday, the stock was up 4.74% in premarket trading at $23.88.

Photo courtesy of Wendy's.