DineEquity, Inc (DIN) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS
DineEquity, Inc (NYSE:DIN) announced its earnings results on Thursday. The restaurant operator reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.10, Briefing.com reports. DineEquity had a return on equity of 40.48% and a net margin of 13.85%. The firm had revenue of $155.20 million during the quarter, compared to the consensus estimate of $155.33 million. During the same quarter in the prior year, the company earned $1.59 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year.
Shares of DineEquity (NYSE DIN) opened at 38.81 on Friday. The firm has a market capitalization of $697.80 million, a PE ratio of 8.16 and a beta of 0.39. DineEquity has a 12-month low of $36.71 and a 12-month high of $88.00. The company’s 50-day moving average price is $42.15 and its 200-day moving average price is $51.74.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, September 18th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 10.00%. DineEquity’s payout ratio is presently 81.68%.
DIN has been the subject of a number of research reports. Zacks Investment Research upgraded DineEquity from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Monday, July 24th. Vetr downgraded DineEquity from a “buy” rating to a “hold” rating and set a $58.82 price objective for the company. in a research report on Wednesday, April 26th. Maxim Group reiterated a “buy” rating and issued a $77.00 price objective on shares of DineEquity in a research report on Friday, April 28th. ValuEngine downgraded DineEquity from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Nomura reiterated a “hold” rating and issued a $55.00 price objective on shares of DineEquity in a research report on Monday, April 17th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. DineEquity presently has a consensus rating of “Buy” and an average price target of $56.47.
In other DineEquity news, Director Stephen P. Joyce purchased 2,265 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average cost of $44.07 per share, for a total transaction of $99,818.55. Following the acquisition, the director now owns 5,488 shares in the company, valued at approximately $241,856.16. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.15% of the company’s stock.
A number of hedge funds have recently modified their holdings of DIN. BlackRock Inc. increased its stake in shares of DineEquity by 66,627.1% in the first quarter. BlackRock Inc. now owns 2,055,863 shares of the restaurant operator’s stock worth $111,881,000 after buying an additional 2,052,782 shares during the last quarter. FMR LLC increased its stake in shares of DineEquity by 87.5% in the first quarter. FMR LLC now owns 1,691,509 shares of the restaurant operator’s stock worth $92,052,000 after buying an additional 789,603 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of DineEquity by 70.8% in the first quarter. Wells Fargo & Company MN now owns 755,593 shares of the restaurant operator’s stock worth $41,120,000 after buying an additional 313,290 shares during the last quarter. KBC Group NV acquired a new stake in shares of DineEquity during the first quarter worth $3,803,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of DineEquity during the first quarter worth $3,108,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.
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DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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