Denny's (NASDAQ:DENN) Posts Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Denny's reported a quarterly earnings per share (EPS) of $0.09, missing analysts' consensus estimate of $0.11 by $0.02.
• Despite the earnings miss, Denny's stock rose 1.1% to $3.64, although it remains below its 50-day and 200-day moving averages.
• Analysts have downgraded their target prices for Denny's, with Citigroup lowering it from $7.00 to $6.25, while maintaining a "buy" rating.

Denny's (NASDAQ:DENN - Get Free Report) posted its quarterly earnings data on Monday. The restaurant operator reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01), Zacks reports. Denny's had a negative return on equity of 56.99% and a net margin of 3.53%. The business had revenue of $117.66 million for the quarter, compared to analyst estimates of $118.14 million. During the same period in the prior year, the firm posted $0.13 EPS. Denny's's revenue for the quarter was up 1.0% on a year-over-year basis.

Denny's Stock Up 2.4%

Denny's stock traded up $0.09 during trading hours on Wednesday, reaching $3.63. 565,749 shares of the company's stock were exchanged, compared to its average volume of 1,072,286. The firm's 50 day simple moving average is $4.10 and its 200 day simple moving average is $4.33. The firm has a market capitalization of $185.78 million, a PE ratio of 11.82 and a beta of 1.70. Denny's has a twelve month low of $2.85 and a twelve month high of $7.73.

Wall Street Analyst Weigh In

DENN has been the topic of a number of research analyst reports. Citigroup decreased their price target on Denny's from $7.00 to $6.25 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Oppenheimer lowered their price objective on shares of Denny's from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Piper Sandler set a $4.00 target price on Denny's and gave the stock a "neutral" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Denny's currently has an average rating of "Moderate Buy" and a consensus target price of $7.13.

Institutional Trading of Denny's

A hedge fund recently bought a new stake in Denny's stock. Jacobs Levy Equity Management Inc. bought a new position in shares of Denny's Corporation (NASDAQ:DENN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 100,195 shares of the restaurant operator's stock, valued at approximately $368,000. Jacobs Levy Equity Management Inc. owned approximately 0.20% of Denny's as of its most recent SEC filing. Institutional investors own 85.07% of the company's stock.

About Denny's

Denny's Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny's and Other segments. The Denny's segment includes the results of all company and franchised and licensed Denny's restaurants. The Other segment refers to the results of all company and franchise restaurants.