Equities research analysts expect Denny’s Corp (NASDAQ:DENN) to post $130.33 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Denny’s’ earnings. The highest sales estimate is $133.20 million and the lowest is $127.46 million. Denny’s reported sales of $158.02 million in the same quarter last year, which indicates a negative year over year growth rate of 17.5%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, October 29th.
According to Zacks, analysts expect that Denny’s will report full year sales of $542.35 million for the current financial year, with estimates ranging from $536.29 million to $548.40 million. For the next fiscal year, analysts expect that the business will report sales of $412.32 million, with estimates ranging from $395.23 million to $429.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Denny’s.
Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, July 30th. The restaurant operator reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. Denny’s had a negative return on equity of 34.91% and a net margin of 11.60%. The company had revenue of $151.90 million for the quarter, compared to the consensus estimate of $148.85 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year.
In other news, SVP Robert P. Verostek sold 4,500 shares of Denny’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $23.57, for a total transaction of $106,065.00. Following the transaction, the senior vice president now owns 3,500 shares in the company, valued at $82,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy E. Flemming sold 50,873 shares of Denny’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $22.82, for a total value of $1,160,921.86. Following the transaction, the vice president now owns 100,828 shares in the company, valued at approximately $2,300,894.96. The disclosure for this sale can be found here. Insiders sold a total of 194,146 shares of company stock worth $4,521,833 over the last 90 days. Insiders own 6.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Denny’s during the second quarter valued at $50,000. NumerixS Investment Technologies Inc purchased a new position in shares of Denny’s during the second quarter valued at $51,000. Advisory Services Network LLC grew its holdings in shares of Denny’s by 1,032.3% during the second quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock valued at $72,000 after buying an additional 3,200 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Denny’s by 2,529.0% during the second quarter. Bank of Montreal Can now owns 5,074 shares of the restaurant operator’s stock valued at $104,000 after buying an additional 4,881 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Denny’s during the second quarter valued at $129,000. Institutional investors and hedge funds own 90.15% of the company’s stock.
Shares of DENN traded down $0.23 during midday trading on Friday, reaching $21.44. The stock had a trading volume of 320,983 shares, compared to its average volume of 424,698. Denny’s has a 52 week low of $14.02 and a 52 week high of $23.88. The firm’s 50 day moving average price is $22.58 and its 200-day moving average price is $21.06. The company has a market capitalization of $1.31 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.72 and a beta of 0.16.
Denny’s Company Profile
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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