Denny’s Corporation (DENN) Receives $12.00 Consensus Price Target from Brokerages
Denny’s Corporation (NASDAQ:DENN) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.00.
DENN has been the subject of several recent research reports. TheStreet raised Denny’s Corporation from a “c+” rating to a “b-” rating in a research note on Monday, October 16th. Zacks Investment Research raised Denny’s Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wedbush reissued an “outperform” rating on shares of Denny’s Corporation in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded Denny’s Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th.
Shares of Denny’s Corporation (DENN) traded up $0.12 during trading hours on Friday, hitting $12.47. The stock had a trading volume of 183,200 shares, compared to its average volume of 335,215. Denny’s Corporation has a 52-week low of $10.87 and a 52-week high of $14.25. The stock has a market cap of $812.12, a price-to-earnings ratio of 21.67 and a beta of 0.57. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of -2.95.
Denny’s Corporation (NASDAQ:DENN) last posted its quarterly earnings data on Wednesday, November 1st. The restaurant operator reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Denny’s Corporation had a negative return on equity of 52.30% and a net margin of 7.21%. The firm had revenue of $132.38 million during the quarter, compared to the consensus estimate of $133.58 million. During the same period in the prior year, the company earned $0.13 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. analysts forecast that Denny’s Corporation will post 0.55 earnings per share for the current year.
Denny’s Corporation declared that its board has approved a stock buyback plan on Tuesday, October 31st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the restaurant operator to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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In related news, VP Stephen C. Dunn sold 5,111 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $11.89, for a total value of $60,769.79. Following the completion of the transaction, the vice president now directly owns 93,179 shares of the company’s stock, valued at approximately $1,107,898.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Denny’s Corporation in the 1st quarter worth $119,000. PNC Financial Services Group Inc. increased its stake in shares of 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 worth $116,000 after acquiring an additional 4,041 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Denny’s Corporation in the 3rd quarter worth $127,000. BNP Paribas Arbitrage SA increased its stake in shares of Denny’s Corporation by 939.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock worth $134,000 after acquiring an additional 10,282 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Denny’s Corporation by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock worth $150,000 after acquiring an additional 666 shares during the last quarter. 94.77% of the stock is owned by institutional investors and hedge funds.
About Denny’s Corporation
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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