Zacks: Brokerages Anticipate Denny’s Co. (NASDAQ:DENN) Will Announce Quarterly Sales of $109.87 Million

Equities analysts predict that Denny’s Co. (NASDAQ:DENN) will announce sales of $109.87 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Denny’s’ earnings, with estimates ranging from $108.56 million to $114.02 million. Denny’s reported sales of $80.11 million in the same quarter last year, which indicates a positive year over year growth rate of 37.1%. The business is expected to report its next earnings results on Tuesday, February 15th.

According to Zacks, analysts expect that Denny’s will report full year sales of $400.37 million for the current fiscal year, with estimates ranging from $399.00 million to $404.55 million. For the next fiscal year, analysts expect that the firm will report sales of $448.52 million, with estimates ranging from $444.60 million to $451.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Denny’s.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, November 2nd. The restaurant operator reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Denny’s had a net margin of 9.98% and a negative return on equity of 18.57%. The firm had revenue of $103.79 million for the quarter, compared to analysts’ expectations of $110.77 million. During the same period in the previous year, the firm posted $0.01 EPS.

Several equities research analysts have commented on DENN shares. Truist Securities raised shares of Denny’s from a “hold” rating to a “buy” rating and cut their price target for the stock from $19.13 to $18.00 in a research report on Thursday, October 21st. Truist raised shares of Denny’s from a “hold” rating to a “buy” rating and upped their target price for the company from $17.00 to $18.00 in a report on Thursday, October 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denny’s in a report on Thursday, October 7th. They issued a “hold” rating and a $17.00 target price on the stock. Wedbush dropped their target price on shares of Denny’s from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, October 28th. Finally, Wells Fargo & Company dropped their target price on shares of Denny’s from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, November 3rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Denny’s presently has a consensus rating of “Buy” and an average target price of $18.22.

NASDAQ:DENN traded up $0.22 on Thursday, hitting $14.60. 765,914 shares of the company’s stock were exchanged, compared to its average volume of 611,806. The firm has a 50-day moving average price of $15.66 and a 200-day moving average price of $16.04. Denny’s has a 52 week low of $11.11 and a 52 week high of $20.02. The company has a market cap of $925.44 million, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.14 and a beta of 1.69.

In other Denny’s news, President F Mark Wolfinger sold 9,877 shares of the stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $16.39, for a total transaction of $161,884.03. Following the transaction, the president now owns 796,771 shares in the company, valued at approximately $13,059,076.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Donald C. Robinson sold 15,938 shares of the stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $16.01, for a total transaction of $255,167.38. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of DENN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Denny’s by 79.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,863 shares of the restaurant operator’s stock worth $97,000 after acquiring an additional 2,594 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Denny’s during the 3rd quarter worth approximately $168,000. Marshall Wace LLP acquired a new stake in shares of Denny’s during the 3rd quarter worth approximately $176,000. Fox Run Management L.L.C. acquired a new stake in shares of Denny’s during the 2nd quarter worth approximately $177,000. Finally, Amalgamated Bank acquired a new stake in shares of Denny’s during the 2nd quarter worth approximately $183,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

About Denny’s

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It offers offers a wide selection of lunch and dinner items including burgers, sandwiches, salads and skillet entrĂ©es, along with an assortment of beverages, appetizers, and desserts. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.

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Earnings History and Estimates for Denny's (NASDAQ:DENN)

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