Equities Analysts Set Expectations for Denny’s Co.’s Q2 2024 Earnings (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENN) – Equities researchers at Wedbush dropped their Q2 2024 earnings per share (EPS) estimates for Denny’s in a research report issued to clients and investors on Wednesday, May 1st. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $0.16 for the quarter, down from their previous forecast of $0.17. Wedbush currently has a “Neutral” rating and a $9.50 target price on the stock. The consensus estimate for Denny’s’ current full-year earnings is $0.60 per share. Wedbush also issued estimates for Denny’s’ Q3 2024 earnings at $0.17 EPS, Q4 2024 earnings at $0.14 EPS, FY2024 earnings at $0.58 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.17 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.61 EPS.

A number of other research firms also recently weighed in on DENN. Truist Financial dropped their price target on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. StockNews.com lowered Denny’s from a “buy” rating to a “hold” rating in a research report on Thursday. Oppenheimer reduced their price target on Denny’s from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $15.00 price objective on shares of Denny’s in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Denny’s currently has an average rating of “Hold” and an average target price of $11.42.

Denny’s Stock Up 0.4 %

DENN stock opened at $8.09 on Friday. The company has a 50 day moving average of $8.70 and a two-hundred day moving average of $9.50. The company has a market cap of $420.83 million, a price-to-earnings ratio of 18.81, a PEG ratio of 1.50 and a beta of 1.94. Denny’s has a 12-month low of $7.82 and a 12-month high of $12.53.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Denny’s had a negative return on equity of 63.27% and a net margin of 5.27%. The company had revenue of $109.97 million during the quarter, compared to analysts’ expectations of $115.17 million. During the same period last year, the company earned $0.13 earnings per share. Denny’s’s revenue for the quarter was down 6.4% compared to the same quarter last year.

Hedge Funds Weigh In On Denny’s

A number of institutional investors have recently modified their holdings of DENN. Envestnet Asset Management Inc. grew its stake in Denny’s by 112.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 662,063 shares of the restaurant operator’s stock valued at $5,608,000 after buying an additional 350,995 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Denny’s by 3.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator’s stock worth $68,179,000 after purchasing an additional 296,554 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Denny’s by 43.6% in the third quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock worth $6,907,000 after purchasing an additional 247,470 shares during the period. Earnest Partners LLC lifted its position in shares of Denny’s by 17.4% during the 3rd quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after purchasing an additional 228,709 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in Denny’s by 95.6% during the 4th quarter. North Star Investment Management Corp. now owns 431,700 shares of the restaurant operator’s stock valued at $4,697,000 after purchasing an additional 211,000 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, Director John C. Miller sold 35,359 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the completion of the sale, the director now directly owns 740,626 shares in the company, valued at approximately $6,850,790.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is currently owned by insiders.

About Denny’s

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