Wall Street analysts predict that Denny’s Corp (NASDAQ:DENN) will post sales of $130.33 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Denny’s’ earnings. The highest sales estimate is $133.20 million and the lowest is $127.46 million. Denny’s posted sales of $158.02 million in the same quarter last year, which suggests a negative year-over-year growth rate of 17.5%. The business is scheduled to report its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Denny’s will report full year sales of $542.35 million for the current financial year, with estimates ranging from $536.29 million to $548.40 million. For the next fiscal year, analysts forecast that the company will post sales of $412.32 million, with estimates ranging from $395.23 million to $429.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Denny’s.
Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Denny’s had a negative return on equity of 34.91% and a net margin of 11.60%. The firm had revenue of $151.90 million during the quarter, compared to analyst estimates of $148.85 million. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was down 3.5% compared to the same quarter last year.
Several brokerages have recently issued reports on DENN. Wedbush set a $25.00 target price on Denny’s and gave the company a “buy” rating in a research report on Friday, August 16th. Maxim Group set a $21.00 target price on Denny’s and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research lowered Denny’s from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. BidaskClub lowered Denny’s from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Oppenheimer started coverage on Denny’s in a report on Thursday, September 19th. They issued an “outperform” rating and a $27.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.67.
Shares of Denny’s stock traded up $0.39 during trading hours on Wednesday, hitting $22.77. 352,123 shares of the company’s stock traded hands, compared to its average volume of 431,314. Denny’s has a 12-month low of $13.32 and a 12-month high of $23.88. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 3.85 and a beta of 0.17. The company has a fifty day simple moving average of $23.04 and a 200-day simple moving average of $20.53.
In related news, CFO F Mark Wolfinger sold 3,816 shares of Denny’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $22.82, for a total value of $87,081.12. Following the completion of the sale, the chief financial officer now owns 779,796 shares of the company’s stock, valued at approximately $17,794,944.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jay C. Gilmore sold 13,000 shares of Denny’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $308,750.00. Following the completion of the sale, the chief accounting officer now directly owns 80,416 shares of the company’s stock, valued at approximately $1,909,880. The disclosure for this sale can be found here. In the last three months, insiders sold 194,146 shares of company stock valued at $4,521,833. 6.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE grew its holdings in Denny’s by 2.9% during the 2nd quarter. US Bancorp DE now owns 68,491 shares of the restaurant operator’s stock valued at $1,406,000 after buying an additional 1,961 shares in the last quarter. First Trust Advisors LP purchased a new position in Denny’s during the 2nd quarter valued at about $4,451,000. Susquehanna International Group LLP purchased a new position in Denny’s during the 2nd quarter valued at about $1,292,000. Advisory Services Network LLC grew its holdings in Denny’s by 1,032.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock valued at $72,000 after buying an additional 3,200 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Denny’s by 2.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 200,176 shares of the restaurant operator’s stock valued at $4,110,000 after buying an additional 5,000 shares in the last quarter. 90.27% of the stock is owned by institutional investors.
Denny’s Company Profile
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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