Denny’s (NASDAQ:DENN) Coverage Initiated at Citigroup

Analysts at Citigroup began coverage on shares of Denny’s (NASDAQ:DENN – Get Rating) in a note issued to investors on Tuesday, April 12th, MarketBeat reports. The firm set a “neutral” rating and a $15.00 price target on the restaurant operator’s stock. Citigroup’s target price suggests a potential upside of 32.63% from the company’s current price.

Several other analysts have also recently commented on DENN. StockNews.com assumed coverage on Denny’s in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research upgraded Denny’s from a “sell” rating to a “hold” rating in a report on Thursday, January 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.25.

Denny’s stock traded down $1.81 during midday trading on Tuesday, reaching $11.31. 1,974,489 shares of the company were exchanged, compared to its average volume of 439,147. The company has a market capitalization of $697.96 million, a price-to-earnings ratio of 9.52, a P/E/G ratio of 2.03 and a beta of 1.59. The firm’s 50-day simple moving average is $13.96 and its 200-day simple moving average is $14.90. Denny’s has a 1 year low of $10.87 and a 1 year high of $18.92.

Denny’s (NASDAQ:DENN – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The restaurant operator reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $103.10 million for the quarter, compared to analysts’ expectations of $102.13 million. Denny’s had a negative return on equity of 37.11% and a net margin of 19.61%. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. On average, sell-side analysts expect that Denny’s will post 0.7 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in DENN. 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 in the last quarter. Morgan Stanley grew its holdings in Denny’s by 29.0% during the 2nd quarter. Morgan Stanley now owns 1,302,480 shares of the restaurant operator’s stock worth $21,478,000 after acquiring an additional 292,621 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Denny’s by 7.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 37,645 shares of the restaurant operator’s stock worth $621,000 after acquiring an additional 2,683 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Denny’s during the 3rd quarter worth $615,000. Finally, SG Americas Securities LLC acquired a new position in Denny’s during the 3rd quarter worth $443,000.

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.

See Also