Wall Street analysts expect that Denny’s Co. (NASDAQ:DENN) will announce $77.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Denny’s’ earnings. The highest sales estimate is $78.50 million and the lowest is $75.20 million. Denny’s reported sales of $96.70 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 19.9%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 13th.
On average, analysts expect that Denny’s will report full-year sales of $373.58 million for the current fiscal year, with estimates ranging from $362.51 million to $395.19 million. For the next financial year, analysts forecast that the business will post sales of $429.42 million, with estimates ranging from $413.30 million to $450.73 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Denny’s.
Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Monday, February 15th. The restaurant operator reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Denny’s had a negative return on equity of 6.12% and a net margin of 3.44%. The company had revenue of $80.11 million for the quarter, compared to analysts’ expectations of $79.50 million.
Shares of Denny’s stock traded up $0.10 on Monday, reaching $18.03. 5,484 shares of the company were exchanged, compared to its average volume of 751,289. Denny’s has a one year low of $7.86 and a one year high of $20.02. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 112.07, a PEG ratio of 3.90 and a beta of 1.74. The company has a 50-day moving average of $18.15 and a 200 day moving average of $14.07.
In other news, CAO Jay C. Gilmore sold 3,300 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $19.81, for a total transaction of $65,373.00. Following the sale, the chief accounting officer now directly owns 87,672 shares of the company’s stock, valued at approximately $1,736,782.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John William Dillon sold 20,914 shares of the stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $17.82, for a total value of $372,687.48. Following the sale, the executive vice president now directly owns 70,639 shares in the company, valued at $1,258,786.98. The disclosure for this sale can be found here. Insiders have sold a total of 30,774 shares of company stock worth $566,964 in the last quarter. Company insiders own 6.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DENN. BlackRock Inc. grew its holdings in shares of Denny’s by 31.9% during the 3rd quarter. BlackRock Inc. now owns 5,662,093 shares of the restaurant operator’s stock worth $56,622,000 after purchasing an additional 1,367,870 shares in the last quarter. FMR LLC boosted its stake in Denny’s by 102.6% in the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after buying an additional 1,211,020 shares in the last quarter. Crescent Park Management L.P. acquired a new stake in Denny’s in the fourth quarter valued at about $9,930,000. Morgan Stanley boosted its stake in Denny’s by 182.0% in the fourth quarter. Morgan Stanley now owns 710,067 shares of the restaurant operator’s stock valued at $10,423,000 after buying an additional 458,298 shares in the last quarter. Finally, CLARET ASSET MANAGEMENT Corp boosted its stake in Denny’s by 57.9% in the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 1,073,012 shares of the restaurant operator’s stock valued at $15,752,000 after buying an additional 393,433 shares in the last quarter. 80.01% of the stock is currently owned by institutional investors.
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 30, 2020, it had 1,650 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.
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