DineEquity, Inc (NYSE:DIN) Sets New 12-Month Low After Analyst Downgrade

Shares of DineEquity, Inc (NYSE:DIN) hit a new 52-week low on Wednesday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock traded as low as $37.34 and last traded at $37.30, with a volume of 365,026 shares trading hands. The stock had previously closed at $38.12.

Other analysts also recently issued research reports about the stock. Maxim Group lowered their target price on shares of DineEquity from $77.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Vetr raised shares of DineEquity from a “hold” rating to a “buy” rating and set a $61.82 target price on the stock in a report on Thursday, April 27th. Nomura reiterated a “hold” rating and issued a $55.00 price objective on shares of DineEquity in a research note on Monday, April 17th. ValuEngine cut shares of DineEquity from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of DineEquity in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.47.

In other DineEquity news, Director Msd Capital L. P bought 39,689 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $39.23 per share, for a total transaction of $1,556,999.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen P. Joyce bought 2,265 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $44.07 per share, with a total value of $99,818.55. Following the transaction, the director now owns 5,488 shares of the company’s stock, valued at approximately $241,856.16. The disclosure for this purchase can be found here. Insiders own 2.15% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of DineEquity by 59.4% in the second quarter. FMR LLC now owns 2,697,013 shares of the restaurant operator’s stock worth $118,803,000 after buying an additional 1,005,504 shares during the last quarter. BlackRock Inc. raised its position in DineEquity by 66,627.1% in the first quarter. BlackRock Inc. now owns 2,055,863 shares of the restaurant operator’s stock worth $111,881,000 after buying an additional 2,052,782 shares in the last quarter. Vanguard Group Inc. raised its position in DineEquity by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,578,848 shares of the restaurant operator’s stock worth $69,548,000 after buying an additional 56,955 shares in the last quarter. Wells Fargo & Company MN raised its position in DineEquity by 17.3% in the second quarter. Wells Fargo & Company MN now owns 886,539 shares of the restaurant operator’s stock worth $39,051,000 after buying an additional 130,946 shares in the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in DineEquity by 41.7% in the second quarter. EdgePoint Investment Group Inc. now owns 599,055 shares of the restaurant operator’s stock worth $26,388,000 after buying an additional 176,412 shares in the last quarter. Institutional investors own 88.63% of the company’s stock.

The firm’s 50-day moving average price is $41.46 and its 200-day moving average price is $50.49. The stock has a market capitalization of $737.74 million, a price-to-earnings ratio of 9.13 and a beta of 0.39.

DineEquity (NYSE:DIN) last announced its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.10. The firm had revenue of $155.20 million during the quarter, compared to analyst estimates of $155.33 million. DineEquity had a return on equity of 38.34% and a net margin of 13.02%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $1.59 earnings per share. On average, equities research analysts forecast that DineEquity, Inc will post $4.38 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, September 18th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.88 annualized dividend and a dividend yield of 9.47%. DineEquity’s payout ratio is currently 86.61%.

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DineEquity Company Profile

DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.

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