According to Zacks, “Denny’s Corp., formerly Advantica Restaurant Group, Inc., is one of the largest restaurant companies, operating moderately-priced restaurants: Denny’s, Hardee’s, Quincy’s, El Pollo Loco, Coco’s and Carrows. The company believes its restaurants benefit from the diversity of the restaurant concepts, the generally strong market positions and consumer recognition enjoyed by these chains, the benefits of a centralized support system for purchasing, menu development, human resources, management information systems, site selection, restaurant design and construction. “
A number of other equities research analysts have also recently issued reports on the stock. Maxim Group set a $21.00 price target on shares of Denny’s and gave the company a “hold” rating in a report on Wednesday, July 31st. CL King began coverage on shares of Denny’s in a report on Tuesday, October 1st. They set a “buy” rating for the company. Oppenheimer began coverage on shares of Denny’s in a research report on Thursday, September 19th. They set an “outperform” rating and a $27.00 price objective for the company. BidaskClub lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, ValuEngine lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $23.33.
DENN stock opened at $21.89 on Thursday. Denny’s has a 52-week low of $14.00 and a 52-week high of $23.88. The company has a 50-day moving average of $22.97 and a two-hundred day moving average of $20.86. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 3.77 and a beta of 0.16.
Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. Denny’s had a net margin of 11.60% and a negative return on equity of 34.91%. The company had revenue of $151.90 million during the quarter, compared to analysts’ expectations of $148.85 million. During the same period in the prior year, the company earned $0.18 earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts forecast that Denny’s will post 0.66 earnings per share for the current fiscal year.
In other news, CAO Jay C. Gilmore sold 13,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $308,750.00. Following the completion of the transaction, the chief accounting officer now owns 80,416 shares of the company’s stock, valued at $1,909,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO F Mark Wolfinger sold 3,816 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $22.82, for a total transaction of $87,081.12. Following the transaction, the chief financial officer now directly owns 779,796 shares of the company’s stock, valued at approximately $17,794,944.72. The disclosure for this sale can be found here. Insiders have sold 194,146 shares of company stock valued at $4,521,833 in the last ninety days. 6.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of DENN. New York State Common Retirement Fund raised its position in Denny’s by 35.2% in the first quarter. New York State Common Retirement Fund now owns 82,207 shares of the restaurant operator’s stock worth $1,508,000 after purchasing an additional 21,407 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Denny’s in the first quarter worth about $349,000. FMR LLC raised its position in Denny’s by 102.6% in the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after purchasing an additional 1,211,020 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Denny’s in the second quarter worth about $239,000. Finally, First Trust Advisors LP acquired a new position in Denny’s in the second quarter worth about $4,451,000. 90.27% of the stock is owned by hedge funds and other institutional investors.
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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