Wendy's Analysts Cut Their Forecasts After Q3 Results

1. Wendy's exceeded Q3 earnings expectations with 24 cents EPS against 20 cents estimate. 2. Q3 sales were $549.5 million, slightly above expectations but down 3% YoY. 3. Comparable sales at restaurants were 4% better than the system average. 4. Analysts lowered price targets, with notable drops from TD Cowen and Evercore. 5. Wendy's shares fell 4.4% to $8.57 after earnings announcement.