Wedbush Weighs in on Denny’s’ FY2024 Earnings (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENN) – Equities research analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for Denny’s in a report issued on Wednesday, October 23rd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $0.51 per share for the year, down from their prior forecast of $0.54. Wedbush currently has a “Neutral” rating and a $6.00 target price on the stock. The consensus estimate for Denny’s’ current full-year earnings is $0.55 per share. Wedbush also issued estimates for Denny’s’ Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.52 EPS.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.06%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share.

DENN has been the subject of a number of other reports. Citigroup upgraded Denny’s from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $7.50 in a research report on Friday. Truist Financial cut their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Oppenheimer dropped their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Benchmark dropped their price target on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Denny’s currently has an average rating of “Moderate Buy” and a consensus target price of $8.10.

Denny’s Price Performance

Denny’s stock opened at $6.56 on Friday. The stock has a market capitalization of $341.24 million, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.11 and a beta of 2.02. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16. The business has a 50 day simple moving average of $6.31 and a 200-day simple moving average of $6.93.

Institutional Trading of Denny’s

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in Denny’s in the 2nd quarter valued at $25,000. CWM LLC grew its holdings in Denny’s by 726.2% in the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 3,239 shares in the last quarter. Quarry LP grew its holdings in Denny’s by 161.5% in the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Denny’s in the 2nd quarter valued at $31,000. Finally, Sanctuary Advisors LLC purchased a new stake in Denny’s in the 2nd quarter valued at $77,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.