Denny’s Co. (NASDAQ:DENN) Expected to Post Quarterly Sales of $110.84 Million

Wall Street brokerages expect that Denny’s Co. (NASDAQ:DENN – Get Rating) will report $110.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Denny’s’ earnings. The highest sales estimate is $113.40 million and the lowest is $107.10 million. Denny’s posted sales of $106.17 million during the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Denny’s will report full-year sales of $439.72 million for the current fiscal year, with estimates ranging from $430.90 million to $454.10 million. For the next year, analysts anticipate that the company will report sales of $445.26 million, with estimates ranging from $440.49 million to $457.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Denny’s.

Denny’s (NASDAQ:DENN – Get Rating) last issued its earnings results on Tuesday, May 3rd. The restaurant operator reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of $103.10 million during the quarter, compared to analysts’ expectations of $102.13 million. Denny’s had a negative return on equity of 52.44% and a net margin of 18.24%. Denny’s’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS.

A number of research analysts recently commented on DENN shares. Zacks Investment Research raised Denny’s from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Citigroup started coverage on Denny’s in a report on Tuesday, April 12th. They set a “neutral” rating and a $15.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Denny’s from $16.00 to $13.00 in a research report on Monday, May 9th. Finally, StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Denny’s currently has an average rating of “Buy” and an average target price of $17.75.

Shares of NASDAQ:DENN traded up $0.33 during mid-day trading on Friday, reaching $10.43. 849,012 shares of the company traded hands, compared to its average volume of 512,880. The company’s 50 day moving average price is $12.31 and its 200-day moving average price is $14.21. The firm has a market cap of $643.66 million, a PE ratio of 8.76, a PEG ratio of 1.78 and a beta of 1.59. Denny’s has a 52 week low of $9.35 and a 52 week high of $18.28.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Denny’s by 0.3% in the third quarter. Franklin Resources Inc. now owns 8,064,510 shares of the restaurant operator’s stock worth $131,774,000 after purchasing an additional 20,964 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Denny’s during the 4th quarter valued at $106,008,000. Wellington Management Group LLP grew its holdings in shares of Denny’s by 69.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,870,874 shares of the restaurant operator’s stock valued at $79,590,000 after acquiring an additional 1,996,160 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Denny’s by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,186,493 shares of the restaurant operator’s stock valued at $45,599,000 after purchasing an additional 26,750 shares during the last quarter. Finally, FMR LLC lifted its position in Denny’s by 102.6% during the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after acquiring an additional 1,211,020 shares during the last quarter.

Denny’s Company Profile (Get Rating)

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 29, 2021, it had 1,640 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.

Recommended Stories