Denny’s Co. to Post FY2023 Earnings of $0.63 Per Share, Wedbush Forecasts (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENNFree Report) – Investment analysts at Wedbush lowered their FY2023 earnings estimates for shares of Denny’s in a research report issued on Wednesday, February 7th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $0.63 for the year, down from their previous estimate of $0.65. Wedbush has a “Neutral” rating and a $10.00 price target on the stock. The consensus estimate for Denny’s’ current full-year earnings is $0.61 per share. Wedbush also issued estimates for Denny’s’ Q4 2023 earnings at $0.19 EPS, Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.19 EPS and Q4 2024 earnings at $0.19 EPS.

Several other equities research analysts also recently issued reports on DENN. Oppenheimer raised their target price on shares of Denny’s from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Truist Financial cut their price objective on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, Citigroup cut their price objective on shares of Denny’s from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Denny’s currently has an average rating of “Hold” and an average target price of $12.43.

Get Our Latest Stock Analysis on DENN

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $10.37 on Thursday. Denny’s has a 52-week low of $8.11 and a 52-week high of $13.00. The company has a market capitalization of $550.44 million, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.99. The company has a 50-day simple moving average of $10.58 and a 200 day simple moving average of $9.76.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DENN. Burney Co. grew its stake in shares of Denny’s by 9.5% during the second quarter. Burney Co. now owns 33,520 shares of the restaurant operator’s stock worth $413,000 after buying an additional 2,912 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Denny’s by 43.6% during the third quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock worth $6,907,000 after buying an additional 247,470 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Denny’s by 5.0% during the second quarter. Los Angeles Capital Management LLC now owns 66,720 shares of the restaurant operator’s stock worth $822,000 after buying an additional 3,175 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Denny’s during the second quarter worth $7,813,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Denny’s by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator’s stock worth $68,179,000 after purchasing an additional 296,554 shares during the period. 84.50% of the stock is owned by institutional investors.

Insider Transactions at Denny’s

In related news, Director John C. Miller sold 114,900 shares of Denny’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $9.23, for a total value of $1,060,527.00. Following the transaction, the director now directly owns 763,226 shares of the company’s stock, valued at $7,044,575.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.50% of the company’s stock.

Denny’s Company Profile

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Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brand in the United States and internationally. The company operates in two segments: Denny's and Other. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.

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