Denny’s Corp. (DENN) Downgraded to “Hold” at Zacks Investment Research
Denny’s Corp. (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Denny’s Corp., formerly Advantica Restaurant Group, Inc., is one of the largest restaurant companies, operating moderately-priced restaurants: Denny’s, Hardee’s, Quincy’s, El Pollo Loco, Coco’s and Carrows. The company believes its restaurants benefit from the diversity of the restaurant concepts, the generally strong market positions and consumer recognition enjoyed by these chains, the benefits of a centralized support system for purchasing, menu development, human resources, management information systems, site selection, restaurant design and construction. “
Shares of Denny’s Corp. (NASDAQ:DENN) opened at 10.25 on Tuesday. The company has a 50-day moving average price of $10.56 and a 200-day moving average price of $10.66. The company has a market cap of $766.72 million, a P/E ratio of 51.51 and a beta of 0.48. Denny’s Corp. has a 12-month low of $8.71 and a 12-month high of $11.89.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/09/dennys-corp-denn-downgraded-to-hold-at-zacks-investment-research.html
Denny’s Corp. (NASDAQ:DENN) last issued its earnings results on Wednesday, August 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Denny’s Corp. had a net margin of 3.24% and a negative return on equity of 86.04%. The business had revenue of $124.32 million for the quarter, compared to analysts’ expectations of $125.78 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that Denny’s Corp. will post $0.52 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its stake in shares of Denny’s Corp. by 5.7% in the second quarter. Suntrust Banks Inc. now owns 13,658 shares of the company’s stock worth $146,000 after buying an additional 739 shares during the last quarter. HL Financial Services LLC boosted its position in Denny’s Corp. by 15.4% in the second quarter. HL Financial Services LLC now owns 70,837 shares of the company’s stock valued at $760,000 after buying an additional 9,434 shares during the last quarter. Bank of Montreal Can purchased a new position in Denny’s Corp. during the second quarter valued at $5,897,000. 1st Global Advisors Inc. boosted its position in Denny’s Corp. by 26.0% in the second quarter. 1st Global Advisors Inc. now owns 12,900 shares of the company’s stock valued at $138,000 after buying an additional 2,664 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its position in Denny’s Corp. by 29.7% in the second quarter. North Star Investment Management Corp. now owns 174,807 shares of the company’s stock valued at $1,876,000 after buying an additional 40,000 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors and hedge funds.
About Denny’s Corp.
Denny’s Corporation (Denny’s) is a franchised service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. The Denny’s brand consists of approximately 1,710 franchised, licensed and company operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Denny's Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denny's Corp. and related companies with MarketBeat.com's FREE daily email newsletter.