Denny’s Co. to Post Q3 2022 Earnings of $0.12 Per Share, Wedbush Forecasts (NASDAQ:DENN)

Denny’s Co. (NASDAQ:DENNGet Rating) – Analysts at Wedbush dropped their Q3 2022 earnings estimates for Denny’s in a report issued on Wednesday, August 3rd. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.16. 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 $0.56 per share. Wedbush also issued estimates for Denny’s’ Q4 2022 earnings at $0.12 EPS, FY2022 earnings at $0.46 EPS, Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.16 EPS and FY2023 earnings at $0.62 EPS.

Denny’s (NASDAQ:DENNGet Rating) last released its earnings results on Tuesday, May 3rd. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $103.10 million during the quarter, compared to analyst estimates of $102.13 million. Denny’s had a net margin of 23.41% and a negative return on equity of 53.52%. Denny’s’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS.

DENN has been the topic of several other research reports. Citigroup dropped their target price on shares of Denny’s from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, June 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Denny’s from $13.00 to $11.00 in a report on Thursday. MKM Partners dropped their price objective on shares of Denny’s from $15.00 to $12.50 and set a “neutral” rating on the stock in a report on Friday, June 3rd. Finally, StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Denny’s has a consensus rating of “Hold” and a consensus target price of $14.07.

Denny’s Stock Down 3.7 %

DENN stock opened at $9.42 on Thursday. The firm has a market cap of $581.33 million, a price-to-earnings ratio of 6.00, a PEG ratio of 2.02 and a beta of 1.61. Denny’s has a 12-month low of $8.46 and a 12-month high of $17.40. The company’s fifty day simple moving average is $9.36 and its 200 day simple moving average is $12.18.

Institutional Investors Weigh In On Denny’s

Several hedge funds and other institutional investors have recently made changes to their positions in DENN. Quantbot Technologies LP bought a new stake in shares of Denny’s during the first quarter worth about $29,000. New York State Teachers Retirement System bought a new stake in shares of Denny’s during the fourth quarter worth about $86,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Denny’s during the second quarter worth about $102,000. National Bank of Canada FI bought a new stake in shares of Denny’s during the fourth quarter worth about $108,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Denny’s during the second quarter worth about $152,000.

Denny’s Company Profile

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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.

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

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