Shares of Denny’s Corporation (NASDAQ:DENN) have earned an average rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $12.00.
DENN has been the subject of several research analyst reports. BidaskClub cut shares of Denny’s Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded shares of Denny’s Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Wedbush reiterated an “outperform” rating on shares of Denny’s Corporation in a research report on Tuesday, August 8th. Finally, TheStreet upgraded shares of Denny’s Corporation from a “c+” rating to a “b-” rating in a research report on Monday, October 16th.
In related news, VP Stephen C. Dunn sold 5,111 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total value of $60,769.79. Following the completion of the sale, the vice president now owns 93,179 shares in the company, valued at approximately $1,107,898.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Denny’s Corporation by 68.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock valued at $116,000 after purchasing an additional 4,041 shares during the last quarter. SG Americas Securities LLC purchased a new position in Denny’s Corporation during the 1st quarter worth $119,000. LMR Partners LLP purchased a new position in Denny’s Corporation during the 3rd quarter worth $127,000. BNP Paribas Arbitrage SA raised its position in Denny’s Corporation by 939.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock worth $134,000 after buying an additional 10,282 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Denny’s Corporation by 5.8% during the 1st quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock worth $150,000 after buying an additional 666 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Denny’s Corporation (NASDAQ DENN) opened at $12.30 on Friday. Denny’s Corporation has a twelve month low of $10.87 and a twelve month high of $14.25. The company has a debt-to-equity ratio of -2.95, a current ratio of 0.40 and a quick ratio of 0.36. The stock has a market cap of $802.98, a price-to-earnings ratio of 21.58 and a beta of 0.57.
Denny’s Corporation (NASDAQ:DENN) last issued its earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Denny’s Corporation had a net margin of 7.21% and a negative return on equity of 52.30%. The business had revenue of $132.38 million during the quarter, compared to analysts’ expectations of $133.58 million. During the same quarter in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. sell-side analysts expect that Denny’s Corporation will post 0.55 earnings per share for the current year.
Denny’s Corporation announced that its board has approved a stock repurchase plan on Tuesday, October 31st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Denny’s Corporation Company Profile
Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.
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