Oppenheimer Comments on Denny’s Co.’s Q1 2022 Earnings (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENN) – Oppenheimer lifted their Q1 2022 earnings per share (EPS) estimates for shares of Denny’s in a research note issued to investors on Tuesday, January 11th. Oppenheimer analyst M. Tamas now forecasts that the restaurant operator will post earnings per share of $0.16 for the quarter, up from their previous forecast of $0.15. Oppenheimer also issued estimates for Denny’s’ Q4 2022 earnings at $0.19 EPS, FY2022 earnings at $0.75 EPS and FY2023 earnings at $0.88 EPS.

Other analysts also recently issued reports about the company. Zacks Investment Research raised Denny’s from a “sell” rating to a “hold” rating in a research report on Thursday. Truist Securities raised Denny’s from a “hold” rating to a “buy” rating and dropped their target price for the company from $19.13 to $18.00 in a research report on Thursday, October 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Denny’s in a research report on Thursday, October 7th. They issued a “hold” rating and a $17.00 target price for the company. Wells Fargo & Company dropped their target price on Denny’s from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, November 3rd. Finally, Benchmark initiated coverage on Denny’s in a research report on Thursday, December 2nd. They issued a “buy” rating and a $19.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.30.

Shares of NASDAQ:DENN opened at $15.85 on Thursday. The business has a 50-day moving average price of $15.24 and a 200 day moving average price of $15.57. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 2.37 and a beta of 1.71. Denny’s has a 12-month low of $13.33 and a 12-month high of $20.02.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, November 2nd. The restaurant operator reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $103.79 million during the quarter, compared to the consensus estimate of $110.77 million. Denny’s had a negative return on equity of 18.57% and a net margin of 9.98%. During the same period last year, the company earned $0.01 EPS.

Hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas purchased a new stake in Denny’s during the third quarter worth approximately $168,000. Marshall Wace LLP purchased a new stake in Denny’s during the third quarter worth approximately $176,000. Amalgamated Bank acquired a new position in Denny’s during the second quarter worth approximately $183,000. Principal Financial Group Inc. acquired a new position in Denny’s during the third quarter worth approximately $184,000. Finally, BNP Paribas Arbitrage SA increased its position in Denny’s by 466.7% during the third quarter. BNP Paribas Arbitrage SA now owns 13,543 shares of the restaurant operator’s stock worth $221,000 after buying an additional 11,153 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.

In other news, Director Donald C. Robinson sold 15,938 shares of Denny’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $16.01, for a total value of $255,167.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.30% of the company’s stock.

About Denny’s

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It offers offers a wide selection of lunch and dinner items including burgers, sandwiches, salads and skillet entrĂ©es, along with an assortment of beverages, appetizers, and desserts. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.

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