Denny’s Corp. (DENN) Stock Price Down 3%
Denny’s Corp. (NASDAQ:DENN) shares were down 3% during mid-day trading on Tuesday . The stock traded as low as $11.24 and last traded at $11.32, with a volume of 152,651 shares changing hands. The stock had previously closed at $11.67.
Several research analysts recently issued reports on DENN shares. Zacks Investment Research cut Denny’s Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Nomura Holdings Inc. initiated coverage on Denny’s Corp. in a research report on Wednesday, April 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $12.00 price objective on shares of Denny’s Corp. in a research report on Thursday, May 5th. Finally, Wedbush boosted their price objective on Denny’s Corp. from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.40.
The firm has a market cap of $865.58 million and a price-to-earnings ratio of 25.10. The firm has a 50-day moving average of $10.99 and a 200-day moving average of $10.30.
Denny’s Corp. (NASDAQ:DENN) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. During the same period in the previous year, the company posted $0.10 earnings per share. The business had revenue of $124.64 million for the quarter, compared to analyst estimates of $122.93 million. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts expect that Denny’s Corp. will post $0.51 EPS for the current year.
In other news, VP Stephen C. Dunn sold 12,500 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $10.81, for a total transaction of $135,125.00. Following the sale, the vice president now directly owns 94,197 shares of the company’s stock, valued at $1,018,269.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several large investors recently made changes to their positions in DENN. California State Teachers Retirement System raised its stake in shares of Denny’s Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 156,334 shares of the company’s stock worth $1,537,000 after buying an additional 2,454 shares during the period. Deere & Co. raised its stake in shares of Denny’s Corp. by 13.9% in the fourth quarter. Deere & Co. now owns 218,237 shares of the company’s stock worth $2,145,000 after buying an additional 26,665 shares during the period. Russell Frank Co raised its stake in shares of Denny’s Corp. by 21.0% in the fourth quarter. Russell Frank Co now owns 229,624 shares of the company’s stock worth $2,294,000 after buying an additional 39,924 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Denny’s Corp. by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,899,991 shares of the company’s stock worth $18,677,000 after buying an additional 200,576 shares during the period.
Denny’s Corporation (Denny’s) is a franchised full-service restaurant chain. The Company, through its wholly owned subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. Its other wholly owned subsidiaries include DFO, LLC and Denny’s Realty, LLC. The Denny’s brand consisted of approximately 1,702 franchised, licensed and the Company operated restaurants around the world, including over 1,596 restaurants in the United States and over 106 international locations.
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