Denny’s (NASDAQ:DENN) had its target price increased by Wedbush from $12.75 to $13.00 in a research report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the restaurant operator’s stock. Wedbush also issued estimates for Denny’s’ Q3 2020 earnings at ($0.04) EPS, Q4 2020 earnings at $0.05 EPS, FY2020 earnings at ($0.05) EPS, Q2 2021 earnings at $0.06 EPS, Q3 2021 earnings at $0.10 EPS, Q4 2021 earnings at $0.15 EPS, FY2021 earnings at $0.37 EPS, Q1 2022 earnings at $0.16 EPS and FY2022 earnings at $0.71 EPS.
Other research analysts have also issued research reports about the company. Oppenheimer reiterated a buy rating and set a $13.00 price target on shares of Denny’s in a research report on Friday, May 15th. 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 research report on Friday, May 15th. ValuEngine upgraded Denny’s from a sell rating to a hold rating in a research report on Friday, May 1st. BidaskClub lowered Denny’s from a sell rating to a strong sell rating in a research report on Thursday, July 16th. Finally, Stephens lowered Denny’s from an overweight rating to an equal weight rating and reduced their price target for the stock from $12.00 to $10.00 in a research report on Monday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $13.79.
Shares of DENN opened at $8.89 on Wednesday. The company has a market cap of $494.97 million, a P/E ratio of 26.92, a PEG ratio of 8.40 and a beta of 1.38. The stock has a fifty day moving average price of $9.66 and a 200 day moving average price of $12.68. Denny’s has a 12 month low of $4.50 and a 12 month high of $23.88.
Denny’s (NASDAQ:DENN) last issued 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 company had revenue of $40.16 million for the quarter, compared to the consensus estimate of $43.70 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. Denny’s’s quarterly revenue was down 73.6% compared to the same quarter last year. Equities analysts predict that Denny’s will post 0.12 EPS for the current year.
In other news, President F Mark Wolfinger sold 6,884 shares of the company’s stock in a transaction 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 completion of the sale, the president now owns 806,936 shares in the company, valued at $9,215,209.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in DENN. FMR LLC lifted its holdings in shares of Denny’s by 102.6% during the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after purchasing an additional 1,211,020 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Denny’s by 57.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,268 shares of the restaurant operator’s stock valued at $423,000 after purchasing an additional 7,755 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Denny’s during the fourth quarter valued at $224,000. Amalgamated Bank lifted its holdings in shares of Denny’s by 7.6% during the fourth quarter. Amalgamated Bank now owns 10,516 shares of the restaurant operator’s stock valued at $209,000 after purchasing an additional 746 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Denny’s by 51.0% during the fourth quarter. UBS Group AG now owns 94,792 shares of the restaurant operator’s stock valued at $1,885,000 after purchasing an additional 32,012 shares during the last quarter. 86.08% of the stock is owned by institutional investors and hedge funds.
Denny’s Company Profile
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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