Brokers Issue Forecasts for Denny’s Co.’s FY2023 Earnings (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENNFree Report) – Stock analysts at Wedbush reduced their FY2023 EPS estimates for shares of Denny’s in a research report issued on Wednesday, February 7th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $0.63 for the year, down from their previous estimate of $0.65. Wedbush has a “Neutral” rating and a $10.00 price objective on the stock. The consensus estimate for Denny’s’ current full-year earnings is $0.62 per share. Wedbush also issued estimates for Denny’s’ Q4 2023 earnings at $0.19 EPS, Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.19 EPS and Q4 2024 earnings at $0.19 EPS.

Other research analysts also recently issued reports about the stock. Oppenheimer increased their target price on shares of Denny’s from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Citigroup reduced their target price on shares of Denny’s from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Finally, Truist Financial reduced their target price on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.43.

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Denny’s Stock Performance

NASDAQ:DENN opened at $10.04 on Thursday. The firm has a market cap of $532.92 million, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.99. Denny’s has a 52 week low of $8.11 and a 52 week high of $13.00. The firm has a 50-day moving average price of $10.55 and a two-hundred day moving average price of $9.77.

Insider Buying and Selling

In related news, Director John C. Miller sold 114,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $9.23, for a total value of $1,060,527.00. Following the completion of the transaction, the director now directly owns 763,226 shares of the company’s stock, valued at approximately $7,044,575.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by insiders.

Institutional Trading of Denny’s

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Denny’s during the 1st quarter valued at $29,000. Tower Research Capital LLC TRC raised its position in shares of Denny’s by 100.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,317 shares of the restaurant operator’s stock valued at $41,000 after buying an additional 1,665 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Denny’s by 31.4% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,535 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 844 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Denny’s by 37.3% during the 1st quarter. First Horizon Advisors Inc. now owns 3,920 shares of the restaurant operator’s stock valued at $44,000 after buying an additional 1,065 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Denny’s during the 3rd quarter valued at $65,000. 84.50% of the stock is currently owned by hedge funds and other institutional investors.

Denny’s Company Profile

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Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brand in the United States and internationally. The company operates in two segments: Denny's and Other. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.

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