Denny’s Co. to Post Q2 2024 Earnings of $0.16 Per Share, Wedbush Forecasts (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENN) – Investment analysts at Wedbush cut their Q2 2024 EPS estimates for Denny’s in a research report issued on Wednesday, May 1st. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $0.16 per share for the quarter, down from their prior estimate of $0.17. Wedbush has a “Neutral” rating and a $9.50 price objective 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.

A number of other equities analysts have also weighed in on DENN. Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Denny’s in a research report on Wednesday. Oppenheimer reduced their price target on Denny’s from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com downgraded Denny’s from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Truist Financial reduced their target price on Denny’s from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.42.

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $8.09 on Friday. Denny’s has a one year low of $7.82 and a one year high of $12.53. The stock has a market cap of $420.84 million, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.42 and a beta of 1.94. The business’s fifty day moving average price is $8.72 and its two-hundred day moving average price is $9.50.

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

Insider Activity

In other Denny’s news, Director John C. Miller sold 35,359 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the completion of the transaction, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denny’s

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in shares of Denny’s by 20.7% in the first quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock valued at $382,000 after purchasing an additional 7,309 shares in the last quarter. Quest Partners LLC purchased a new position in Denny’s in the 4th quarter worth approximately $96,000. Trexquant Investment LP purchased a new position in shares of Denny’s during the fourth quarter valued at approximately $136,000. First Eagle Investment Management LLC raised its position in shares of Denny’s by 17.4% in the 4th quarter. First Eagle Investment Management LLC now owns 957,069 shares of the restaurant operator’s stock worth $10,413,000 after acquiring an additional 141,584 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Denny’s by 126.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after purchasing an additional 2,536 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Denny’s Company Profile

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.