Wedbush Trims Denny’s (NASDAQ:DENN) Target Price to $6.00

Denny’s (NASDAQ:DENN) had its target price decreased by Wedbush from $7.00 to $6.00 in a research report report published on Wednesday, Benzinga reports. Wedbush currently has a neutral rating on the restaurant operator’s stock. Wedbush also issued estimates for Denny’s’ FY2024 earnings at $0.51 EPS, 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.

A number of other brokerages also recently issued reports on DENN. Benchmark restated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a research report on Wednesday, July 31st. Oppenheimer dropped their price target on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Truist Financial cut their price target on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup decreased their price objective on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Denny’s Stock Up 4.8 %

Shares of NASDAQ:DENN opened at $6.56 on Wednesday. The firm has a fifty day simple moving average of $6.31 and a two-hundred day simple moving average of $6.93. Denny’s has a 52 week low of $5.37 and a 52 week high of $11.16. The stock has a market capitalization of $341.24 million, a P/E ratio of 15.26, a PEG ratio of 1.11 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $111.76 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.17 earnings per share. On average, analysts expect that Denny’s will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Denny’s

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Denny’s by 20.7% in the first quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock valued at $382,000 after purchasing an additional 7,309 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Denny’s by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator’s stock worth $2,396,000 after buying an additional 44,414 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Denny’s by 87.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator’s stock worth $262,000 after buying an additional 13,600 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Denny’s by 15.3% during the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock valued at $9,889,000 after buying an additional 146,658 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock worth $29,885,000 after acquiring an additional 89,465 shares during the period. 85.07% of the stock is currently owned by institutional investors.

About Denny’s

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.