Denny’s Corp (NASDAQ:DENN) – Wedbush lowered their Q3 2020 earnings per share (EPS) estimates for Denny’s in a research report issued on Wednesday, July 29th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of ($0.04) for the quarter, down from their prior forecast of ($0.01). Wedbush currently has a “Outperform” rating and a $13.00 target price on the stock. Wedbush also issued estimates for Denny’s’ FY2020 earnings at ($0.05) EPS, Q3 2021 earnings at $0.10 EPS, Q1 2022 earnings at $0.16 EPS and FY2022 earnings at $0.71 EPS.
DENN has been the subject of several other reports. Stephens lowered Denny’s from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $12.00 to $10.00 in a report on Monday, July 13th. MKM Partners reduced their price target on Denny’s from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Zacks Investment Research lowered Denny’s from a “buy” rating to a “hold” rating in a report on Tuesday, April 14th. BidaskClub lowered Denny’s from a “sell” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, ValuEngine upgraded Denny’s from a “sell” rating to a “hold” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $13.79.
Shares of Denny’s stock opened at $8.89 on Friday. The firm has a market cap of $522.55 million, a price-to-earnings ratio of 10.33, a P/E/G ratio of 8.87 and a beta of 1.38. Denny’s has a 52-week low of $4.50 and a 52-week high of $23.88. The stock has a 50-day simple moving average of $9.66 and a 200-day simple moving average of $12.68.
Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, July 28th. The restaurant operator reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.05). Denny’s had a negative return on equity of 14.02% and a net margin of 14.33%. The business had revenue of $40.16 million for the quarter, compared to analyst estimates of $43.70 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The company’s revenue was down 73.6% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of DENN. FMR LLC increased its position in Denny’s by 102.6% in the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after buying an additional 1,211,020 shares during the period. Victory Capital Management Inc. increased its position in Denny’s by 57.4% in the 4th quarter. Victory Capital Management Inc. now owns 21,268 shares of the restaurant operator’s stock worth $423,000 after buying an additional 7,755 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Denny’s in the 4th quarter worth approximately $224,000. Amalgamated Bank increased its position in Denny’s by 7.6% in the 4th quarter. Amalgamated Bank now owns 10,516 shares of the restaurant operator’s stock worth $209,000 after buying an additional 746 shares during the period. Finally, UBS Group AG increased its position in Denny’s by 51.0% in the 4th quarter. UBS Group AG now owns 94,792 shares of the restaurant operator’s stock worth $1,885,000 after buying an additional 32,012 shares during the period. 86.08% of the stock is currently owned by institutional investors.
In related news, President F Mark Wolfinger sold 6,884 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $11.42, for a total value of $78,615.28. Following the transaction, the president now directly owns 806,936 shares of the company’s stock, valued at approximately $9,215,209.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.
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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