Denny’s (DENN) Rating Reiterated by Wedbush

Wedbush restated their buy rating on shares of Denny’s (NASDAQ:DENN) in a research note published on Monday. Wedbush currently has a $20.00 price objective on the restaurant operator’s stock. Wedbush also issued estimates for Denny’s’ Q1 2019 earnings at $0.10 EPS, Q2 2019 earnings at $0.16 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.55 EPS, Q1 2020 earnings at $0.11 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.19 EPS, Q4 2020 earnings at $0.20 EPS and FY2020 earnings at $0.66 EPS.

DENN has been the topic of several other research reports. Zacks Investment Research downgraded Denny’s from a hold rating to a sell rating in a research note on Wednesday, January 2nd. ValuEngine raised Denny’s from a hold rating to a buy rating in a research note on Thursday, November 1st. BidaskClub downgraded Denny’s from a buy rating to a hold rating in a research note on Tuesday, December 4th. Finally, Stephens raised Denny’s from an equal rating to a weight rating and lifted their price target for the company from $16.50 to $17.00 in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $19.00.

Shares of Denny’s stock opened at $17.59 on Monday. The firm has a market cap of $1.14 billion, a P/E ratio of 30.33 and a beta of 0.17. Denny’s has a 12 month low of $13.32 and a 12 month high of $18.94.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, February 12th. The restaurant operator reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Denny’s had a negative return on equity of 40.31% and a net margin of 7.48%. The business had revenue of $159.55 million for the quarter, compared to the consensus estimate of $158.85 million. During the same quarter last year, the business posted $0.18 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Analysts expect that Denny’s will post 0.68 earnings per share for the current fiscal year.

In other Denny’s news, CFO F Mark Wolfinger sold 6,500 shares of Denny’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $16.79, for a total value of $109,135.00. Following the sale, the chief financial officer now owns 722,394 shares of the company’s stock, valued at approximately $12,128,995.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 28,000 shares of company stock worth $470,760 in the last three months. Company insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DENN. Wells Fargo & Company MN grew its holdings in shares of Denny’s by 6.7% in the 3rd quarter. Wells Fargo & Company MN now owns 4,395,364 shares of the restaurant operator’s stock valued at $64,699,000 after acquiring an additional 275,159 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Denny’s in the 4th quarter valued at about $2,296,000. Acadian Asset Management LLC grew its holdings in shares of Denny’s by 40.9% in the 3rd quarter. Acadian Asset Management LLC now owns 402,019 shares of the restaurant operator’s stock valued at $5,917,000 after acquiring an additional 116,674 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Denny’s by 5.6% in the 4th quarter. Brown Advisory Inc. now owns 2,055,900 shares of the restaurant operator’s stock valued at $33,326,000 after acquiring an additional 108,781 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Denny’s by 35.7% in the 4th quarter. Bank of New York Mellon Corp now owns 368,441 shares of the restaurant operator’s stock valued at $5,973,000 after acquiring an additional 96,901 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

Denny’s Company Profile

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of September 26, 2018, it had 1,715 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.

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