Q2 2024 EPS Estimates for Denny's Co. Decreased by Analyst (NASDAQ:DENN)

Denny's Co. (NASDAQ:DENN - Free Report) - Analysts at Wedbush dropped their Q2 2024 earnings estimates for Denny's in a research report issued on Wednesday, May 1st. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $0.16 for the quarter, down from their previous estimate 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 $0.63 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.

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

Several other equities research analysts have also recently issued reports on DENN. Benchmark restated a "buy" rating and set a $15.00 price objective on shares of Denny's in a research report on Wednesday. Oppenheimer cut their price objective on shares of Denny's from $12.00 to $11.00 and set an "outperform" rating for the company in a research report on Wednesday. StockNews.com cut shares of Denny's from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Truist Financial cut their price objective on shares of Denny's from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, February 14th. Four research 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 a consensus price target of $11.42.

Denny's Trading Up 0.4 %

Denny's stock traded up $0.03 during midday trading on Friday, hitting $8.09. 750,263 shares of the stock were exchanged, compared to its average volume of 499,198. Denny's has a fifty-two week low of $7.82 and a fifty-two week high of $12.53. The stock has a market capitalization of $420.84 million, a price-to-earnings ratio of 18.91, a PEG ratio of 1.42 and a beta of 1.94. The stock's 50-day simple moving average is $8.72 and its 200 day simple moving average is $9.50.

Institutional Investors Weigh In On Denny's

Several large investors have recently added to or reduced their stakes in DENN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Denny's by 45.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator's stock worth $130,000 after buying an additional 4,843 shares during the period. Skylands Capital LLC increased its position in shares of Denny's by 194.0% in the 3rd quarter. Skylands Capital LLC now owns 94,075 shares of the restaurant operator's stock valued at $797,000 after purchasing an additional 62,075 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Denny's by 3.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator's stock valued at $68,179,000 after purchasing an additional 296,554 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Denny's by 6.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 235,449 shares of the restaurant operator's stock valued at $1,994,000 after purchasing an additional 13,451 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Denny's by 48.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 31,854 shares of the restaurant operator's stock valued at $270,000 after purchasing an additional 10,340 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John C. Miller sold 35,359 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.25, for a total transaction of $327,070.75. Following the sale, the director now directly owns 740,626 shares of the company's stock, valued at approximately $6,850,790.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is 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.