Denny’s Corp. (NASDAQ:DENN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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) traded down 0.28% during trading on Tuesday, reaching $10.63. 260,062 shares of the company traded hands. Denny’s Corp. has a 52 week low of $8.71 and a 52 week high of $11.89. The firm has a 50 day moving average of $10.62 and a 200 day moving average of $10.66. The stock has a market capitalization of $795.15 million, a PE ratio of 53.42 and a beta of 0.48.
Denny’s Corp. (NASDAQ:DENN) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The business had revenue of $124.32 million for the quarter, compared to the consensus estimate of $125.78 million. Denny’s Corp. had a net margin of 3.24% and a negative return on equity of 86.04%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, equities analysts predict that Denny’s Corp. will post $0.52 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Teachers Advisors Inc. increased its position in Denny’s Corp. by 45.2% in the first quarter. Teachers Advisors Inc. now owns 1,614,848 shares of the company’s stock valued at $16,730,000 after buying an additional 502,597 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in Denny’s Corp. by 37.0% in the first quarter. Landscape Capital Management L.L.C. now owns 121,616 shares of the company’s stock valued at $1,260,000 after buying an additional 32,816 shares during the last quarter. Spark Investment Management LLC increased its position in Denny’s Corp. by 158.7% in the first quarter. Spark Investment Management LLC now owns 324,400 shares of the company’s stock valued at $3,360,000 after buying an additional 199,000 shares during the last quarter. AXA increased its position in Denny’s Corp. by 2,027.0% in the first quarter. AXA now owns 78,700 shares of the company’s stock valued at $815,000 after buying an additional 75,000 shares during the last quarter. Finally, Hancock Holding Co. increased its position in Denny’s Corp. by 8.7% in the first quarter. Hancock Holding Co. now owns 73,808 shares of the company’s stock valued at $765,000 after buying an additional 5,910 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.
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