BidaskClub Lowers Denny’s Corporation (DENN) to Sell

BidaskClub cut shares of Denny’s Corporation (NASDAQ:DENN) from a hold rating to a sell rating in a report issued on Wednesday.

A number of other research firms have also commented on DENN. Instinet reaffirmed a neutral rating and set a $12.00 target price (up previously from $11.00) on shares of Denny’s Corporation in a report on Wednesday, May 3rd. Nomura reaffirmed a hold rating and set a $12.00 target price on shares of Denny’s Corporation in a report on Wednesday, May 3rd. Finally, Wedbush reaffirmed a buy rating on shares of Denny’s Corporation in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $12.50.

Denny’s Corporation (NASDAQ DENN) opened at 11.47 on Wednesday. The company has a market capitalization of $801.33 million, a price-to-earnings ratio of 50.75 and a beta of 0.62. The firm’s 50-day moving average price is $11.66 and its 200-day moving average price is $12.27. Denny’s Corporation has a 52 week low of $10.02 and a 52 week high of $14.25.

Denny’s Corporation (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, May 2nd. The restaurant operator reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $127.91 million during the quarter, compared to analyst estimates of $128.55 million. Denny’s Corporation had a net margin of 3.49% and a negative return on equity of 68.77%. On average, equities analysts expect that Denny’s Corporation will post $0.57 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Denny’s Corporation by 3.8% in the first quarter. Wells Fargo & Company MN now owns 5,397,076 shares of the restaurant operator’s stock worth $66,762,000 after buying an additional 199,568 shares in the last quarter. Renaissance Technologies LLC raised its stake in Denny’s Corporation by 10.3% in the first quarter. Renaissance Technologies LLC now owns 3,594,311 shares of the restaurant operator’s stock worth $44,462,000 after buying an additional 337,111 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Denny’s Corporation by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,420,479 shares of the restaurant operator’s stock worth $29,941,000 after buying an additional 88,086 shares in the last quarter. State Street Corp raised its stake in Denny’s Corporation by 5.9% in the fourth quarter. State Street Corp now owns 1,534,919 shares of the restaurant operator’s stock worth $19,690,000 after buying an additional 85,245 shares in the last quarter. Finally, FMR LLC raised its stake in Denny’s Corporation by 8.3% in the fourth quarter. FMR LLC now owns 1,317,890 shares of the restaurant operator’s stock worth $16,908,000 after buying an additional 100,800 shares in the last quarter. 89.25% of the stock is owned by hedge funds and other institutional investors.

About Denny’s Corporation

Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.

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