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.
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.
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 entrées, 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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