Denny’s (NASDAQ:DENN) PT Lowered to $6.00 at Wedbush

Denny’s (NASDAQ:DENN) had its target price lowered by Wedbush from $7.00 to $6.00 in a report issued on Wednesday morning, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Denny’s’ FY2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.52 EPS.

Several other equities research analysts also recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $15.00 price target on shares of Denny’s in a report on Wednesday, July 31st. Truist Financial reduced their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Oppenheimer lowered their price target on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, Citigroup reduced their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Denny’s Price Performance

Denny’s stock opened at $6.56 on Wednesday. The company’s 50-day moving average is $6.31 and its 200-day moving average is $6.92. The firm has a market capitalization of $341.24 million, a PE ratio of 15.26, a P/E/G ratio of 1.11 and a beta of 2.02. Denny’s has a fifty-two week low of $5.37 and a fifty-two week high of $11.16.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 48.06% and a net margin of 3.90%. The business had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. During the same period last year, the firm earned $0.17 EPS. Denny’s’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts expect that Denny’s will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Denny’s

A number of hedge funds and other institutional investors have recently made changes to their positions in DENN. Allspring Global Investments Holdings LLC raised its holdings in Denny’s by 6.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after acquiring an additional 558,964 shares in the last quarter. Vanguard Group Inc. raised its stake in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after purchasing an additional 89,465 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Denny’s by 14.1% during the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after purchasing an additional 155,100 shares during the period. Olstein Capital Management L.P. grew its stake in Denny’s by 9.9% during the second quarter. Olstein Capital Management L.P. now owns 896,400 shares of the restaurant operator’s stock worth $6,364,000 after buying an additional 80,587 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Denny’s by 1,487.7% in the 2nd quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock valued at $3,774,000 after buying an additional 498,051 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.