Denny’s Corp (NASDAQ:DENN) – SunTrust Banks decreased their Q3 2020 earnings estimates for shares of Denny’s in a research note issued to investors on Tuesday, July 28th. SunTrust Banks analyst J. Bartlett now forecasts that the restaurant operator will post earnings of ($0.05) per share for the quarter, down from their prior forecast of $0.06. SunTrust Banks currently has a “Buy” rating and a $15.00 target price on the stock. SunTrust Banks also issued estimates for Denny’s’ Q4 2020 earnings at $0.13 EPS, FY2020 earnings at $0.03 EPS, FY2021 earnings at $0.50 EPS and FY2022 earnings at $0.69 EPS.
Several other equities research analysts have also issued reports on DENN. BidaskClub lowered Denny’s from a “sell” rating to a “strong sell” rating in a report on Thursday, July 16th. Stephens lowered Denny’s from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $10.00 in a report on Monday, July 13th. Zacks Investment Research lowered Denny’s from a “buy” rating to a “hold” rating in a report on Tuesday, April 14th. MKM Partners reduced their target price on Denny’s from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Finally, Wedbush boosted their target price on Denny’s from $12.75 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.79.
Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, July 28th. The restaurant operator reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.05). The firm had revenue of $40.16 million for the quarter, compared to analyst estimates of $43.70 million. Denny’s had a net margin of 14.33% and a negative return on equity of 14.02%. The firm’s quarterly revenue was down 73.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd increased its position in Denny’s by 23.2% in the 1st quarter. WINTON GROUP Ltd now owns 130,148 shares of the restaurant operator’s stock worth $1,000,000 after buying an additional 24,500 shares during the period. Marshall Wace LLP bought a new stake in shares of Denny’s during the fourth quarter valued at approximately $88,000. Alliancebernstein L.P. increased its position in shares of Denny’s by 28.4% during the fourth quarter. Alliancebernstein L.P. now owns 232,111 shares of the restaurant operator’s stock valued at $4,614,000 after purchasing an additional 51,370 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Denny’s by 81.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 40,338 shares of the restaurant operator’s stock valued at $802,000 after purchasing an additional 18,131 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Denny’s during the second quarter valued at approximately $2,094,000. 86.08% of the stock is currently owned by institutional investors.
In other Denny’s news, President F Mark Wolfinger sold 6,884 shares of Denny’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $11.42, for a total value of $78,615.28. Following the transaction, the president now directly owns 806,936 shares of the company’s stock, valued at approximately $9,215,209.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.10% of the company’s stock.
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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