Denny’s (NASDAQ:DENN – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.
Several other research firms have also recently weighed in on DENN. Citigroup cut their price objective on Denny’s from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, June 16th. Wedbush cut Denny’s from an “outperform” rating to a “neutral” rating and cut their price target for the company from $19.00 to $10.00 in a report on Friday, June 24th. MKM Partners cut their price target on Denny’s from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Friday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Denny’s from $13.00 to $11.00 in a report on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.07.
Denny’s Stock Performance
Shares of DENN traded down $0.33 during trading hours on Thursday, hitting $9.78. 727,320 shares of the company were exchanged, compared to its average volume of 609,810. Denny’s has a 52 week low of $8.46 and a 52 week high of $17.40. The company has a market cap of $603.54 million, a PE ratio of 6.23, a PEG ratio of 1.77 and a beta of 1.61. The firm’s 50 day moving average is $9.38 and its 200-day moving average is $12.22.
Denny’s (NASDAQ:DENN – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The restaurant operator reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Denny’s had a negative return on equity of 51.77% and a net margin of 23.41%. The business had revenue of $103.10 million for the quarter, compared to analyst estimates of $102.13 million. During the same period in the prior year, the firm posted $0.01 EPS. Denny’s’s revenue for the quarter was up 27.9% on a year-over-year basis. As a group, equities analysts forecast that Denny’s will post 0.6 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Denny’s
Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Denny’s in the 1st quarter worth approximately $29,000. New York State Teachers Retirement System acquired a new position in shares of Denny’s in the 4th quarter worth approximately $86,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Denny’s in the 2nd quarter worth approximately $102,000. National Bank of Canada FI acquired a new position in shares of Denny’s in the 4th quarter worth approximately $108,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Denny’s during the 2nd quarter worth approximately $152,000.
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 29, 2021, it had 1,640 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny’s Corporation in 2002.