Wedbush Has Bearish Estimate for Denny’s FY2024 Earnings

Denny’s Co. (NASDAQ:DENN) – Investment analysts at Wedbush dropped their FY2024 EPS estimates for Denny’s in a research note issued to investors on Wednesday, October 23rd. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $0.51 per share for the year, down from their previous estimate of $0.54. Wedbush currently has a “Neutral” rating and a $6.00 target price on the stock. The consensus estimate for Denny’s’ current full-year earnings is $0.55 per share. Wedbush also issued estimates for Denny’s’ Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.52 EPS.

Several other brokerages have also recently weighed in on DENN. StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a research note on Wednesday. Benchmark reduced their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer decreased their price target on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.00 to $7.50 in a research report on Friday. Finally, Truist Financial reduced their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Denny’s presently has an average rating of “Moderate Buy” and a consensus price target of $8.10.

Denny’s Price Performance

NASDAQ DENN opened at $6.56 on Friday. The company’s 50 day simple moving average is $6.31 and its 200 day simple moving average is $6.92. The firm has a market capitalization of $341.24 million, a PE ratio of 15.26, a P/E/G ratio of 1.11 and a beta of 2.02. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. Denny’s had a negative return on equity of 48.06% and a net margin of 3.90%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS.

Hedge Funds Weigh In On Denny’s

Large investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of Denny’s during the second quarter worth approximately $25,000. CWM LLC increased its position in Denny’s by 726.2% during the second quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 3,239 shares during the period. Quarry LP raised its stake in Denny’s by 161.5% during the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 2,617 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Denny’s in the 2nd quarter worth $31,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Denny’s during the 2nd quarter worth about $77,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Denny’s Company Profile

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.