Dunkin Brands Group (DNKN) Shares Gap Down on Analyst Downgrade
Dunkin Brands Group Inc (NASDAQ:DNKN)’s share price gapped down prior to trading on Wednesday after Bank of America lowered their price target on the stock from $68.00 to $65.00. The stock had previously closed at $60.95, but opened at $59.71. Bank of America currently has a neutral rating on the stock. Dunkin Brands Group shares last traded at $59.02, with a volume of 910822 shares trading hands.
Several other brokerages have also weighed in on DNKN. Barclays restated an “overweight” rating and issued a $70.00 price target (up previously from $63.00) on shares of Dunkin Brands Group in a research note on Tuesday, January 16th. Maxim Group restated a “buy” rating and issued a $64.00 price target on shares of Dunkin Brands Group in a research note on Tuesday, October 17th. Piper Jaffray Companies lifted their price target on Dunkin Brands Group from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Zacks Investment Research upgraded Dunkin Brands Group from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Cowen restated a “hold” rating and issued a $62.00 price target on shares of Dunkin Brands Group in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.35.
Institutional investors have recently modified their holdings of the company. Griffin Asset Management Inc. acquired a new position in shares of Dunkin Brands Group during the 3rd quarter worth approximately $1,986,000. California Public Employees Retirement System boosted its holdings in shares of Dunkin Brands Group by 10.6% during the 3rd quarter. California Public Employees Retirement System now owns 180,320 shares of the restaurant operator’s stock worth $9,571,000 after purchasing an additional 17,320 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Dunkin Brands Group by 1.7% during the 3rd quarter. Nationwide Fund Advisors now owns 183,364 shares of the restaurant operator’s stock worth $9,733,000 after purchasing an additional 3,120 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Dunkin Brands Group by 4.2% during the 3rd quarter. Stifel Financial Corp now owns 74,960 shares of the restaurant operator’s stock worth $3,978,000 after purchasing an additional 2,998 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Dunkin Brands Group by 1.6% during the 2nd quarter. State Street Corp now owns 2,357,509 shares of the restaurant operator’s stock worth $129,945,000 after purchasing an additional 36,032 shares during the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.
Dunkin Brands Group (NASDAQ:DNKN) last issued its earnings results on Tuesday, February 6th. The restaurant operator reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Dunkin Brands Group had a negative return on equity of 140.12% and a net margin of 24.91%. The business had revenue of $227.10 million for the quarter, compared to analysts’ expectations of $220.54 million. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. equities analysts forecast that Dunkin Brands Group Inc will post 2.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 12th will be issued a $0.3475 dividend. The ex-dividend date of this dividend is Friday, March 9th. This is a boost from Dunkin Brands Group’s previous quarterly dividend of $0.32. This represents a $1.39 dividend on an annualized basis and a yield of 2.36%. Dunkin Brands Group’s dividend payout ratio is currently 33.86%.
Dunkin Brands Group declared that its board has approved a share repurchase plan on Thursday, October 26th that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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Dunkin Brands Group Company Profile
Dunkin’ Brands Group, Inc is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S.
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