Denny’s Corporation (DENN) Lowered to “Strong Sell” at BidaskClub
Denny’s Corporation (NASDAQ:DENN) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
A number of other research analysts have also commented on DENN. Wedbush reaffirmed an “outperform” rating on shares of Denny’s Corporation in a research report on Tuesday, August 8th. Zacks Investment Research lowered Denny’s Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Instinet reaffirmed a “neutral” rating and set a $12.00 price target (up previously from $11.00) on shares of Denny’s Corporation in a research report on Wednesday, May 3rd. Finally, Nomura reaffirmed a “hold” rating and set a $12.00 price target on shares of Denny’s Corporation in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.67.
Shares of Denny’s Corporation (NASDAQ DENN) traded down 0.43% during trading on Friday, reaching $11.69. The company’s stock had a trading volume of 276,820 shares. Denny’s Corporation has a 52 week low of $10.02 and a 52 week high of $14.25. The company has a market cap of $785.28 million, a PE ratio of 22.92 and a beta of 0.61. The stock’s 50 day moving average price is $11.81 and its 200 day moving average price is $12.06.
Denny’s Corporation (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $133.40 million for the quarter, compared to the consensus estimate of $131.62 million. Denny’s Corporation had a net margin of 7.34% and a negative return on equity of 60.77%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Equities research analysts predict that Denny’s Corporation will post $0.56 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DENN. SG Americas Securities LLC purchased a new position in Denny’s Corporation during the first quarter worth $119,000. PNC Financial Services Group Inc. increased its position in Denny’s Corporation by 68.3% in the second quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock worth $116,000 after buying an additional 4,041 shares during the period. Stevens Capital Management LP purchased a new position in Denny’s Corporation during the first quarter worth $127,000. Koch Industries Inc. purchased a new position in Denny’s Corporation during the first quarter worth $138,000. Finally, BNP Paribas Arbitrage SA increased its position in Denny’s Corporation by 939.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock worth $134,000 after buying an additional 10,282 shares during the period. 92.55% of the stock is owned by institutional investors and hedge funds.
About Denny’s Corporation
Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.
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