Denny’s Corporation (DENN) Posts Quarterly Earnings Results, Meets Estimates
Denny’s Corporation (NASDAQ:DENN) announced its earnings results on Wednesday. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14, Briefing.com reports. Denny’s Corporation had a negative return on equity of 60.77% and a net margin of 7.34%. The firm had revenue of $132.38 million during the quarter, compared to analyst estimates of $133.58 million. During the same quarter in the prior year, the company earned $0.13 EPS. The business’s revenue was up 3.1% compared to the same quarter last year.
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Denny’s Corporation announced that its board has authorized a stock repurchase program on Tuesday, October 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Several brokerages have recently issued reports on DENN. TheStreet raised Denny’s Corporation from a “c+” rating to a “b-” rating in a research report on Monday, October 16th. Zacks Investment Research raised Denny’s Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub lowered Denny’s Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Wedbush reissued an “outperform” rating on shares of Denny’s Corporation in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.67.
Denny’s Corporation Company Profile
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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