Denny’s Co. (NASDAQ:DENN) Expected to Earn Q2 2024 Earnings of $0.16 Per Share

Denny’s Co. (NASDAQ:DENN) – Equities researchers at Wedbush decreased their Q2 2024 earnings per share estimates for shares of Denny’s in a research note issued to investors on Wednesday, May 1st. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $0.16 for the quarter, down from their prior estimate of $0.17. Wedbush currently has a “Neutral” rating and a $9.50 price objective on the stock. The consensus estimate for Denny’s’ current full-year earnings is $0.60 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.

DENN has been the subject of several other research reports. Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Denny’s in a research note on Wednesday. Truist Financial dropped their price target on Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. StockNews.com downgraded Denny’s from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Oppenheimer lowered their target price on Denny’s from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Denny’s currently has a consensus rating of “Hold” and a consensus target price of $11.42.

Denny’s Trading Up 0.4 %

DENN opened at $8.09 on Friday. The company has a market cap of $420.83 million, a P/E ratio of 18.81, a PEG ratio of 1.50 and a beta of 1.94. The company’s 50 day moving average is $8.70 and its 200-day moving average is $9.50. Denny’s has a 1-year low of $7.82 and a 1-year high of $12.53.

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

Hedge Funds Weigh In On Denny’s

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its position in Denny’s by 43.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock valued at $6,907,000 after purchasing an additional 247,470 shares during the period. Aigen Investment Management LP bought a new stake in shares of Denny’s in the 3rd quarter valued at $495,000. North Star Investment Management Corp. increased its position in shares of Denny’s by 95.6% during the fourth quarter. North Star Investment Management Corp. now owns 431,700 shares of the restaurant operator’s stock worth $4,697,000 after buying an additional 211,000 shares during the period. Earnest Partners LLC raised its stake in Denny’s by 17.4% during the third quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after buying an additional 228,709 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Denny’s by 16.4% in the fourth quarter. Diversified Trust Co now owns 15,546 shares of the restaurant operator’s stock valued at $169,000 after buying an additional 2,186 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Denny’s news, Director John C. Miller sold 35,359 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the sale, the director now owns 740,626 shares in the company, valued at approximately $6,850,790.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by corporate insiders.

About Denny’s

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.