Denny’s Corporation (DENN) Issues Earnings Results

Denny’s Corporation (NASDAQ:DENN) posted its earnings results on Wednesday. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14, Bloomberg Earnings reports. The firm had revenue of $132.38 million during the quarter, compared to analysts’ expectations of $133.58 million. Denny’s Corporation had a net margin of 7.21% and a negative return on equity of 52.30%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share.

In related news, VP Stephen C. Dunn sold 5,111 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total value of $60,769.79. Following the completion of the transaction, the vice president now directly owns 93,179 shares of the company’s stock, valued at $1,107,898.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.20% of the stock is currently owned by company insiders.

Denny’s Corporation announced that its Board of Directors has authorized a share buyback program on Tuesday, October 31st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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DENN has been the subject of a number of analyst reports. BidaskClub cut shares of Denny’s Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Denny’s Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wedbush reiterated an “outperform” rating on shares of Denny’s Corporation in a research note on Tuesday, August 8th. Finally, TheStreet upgraded shares of Denny’s Corporation from a “c+” rating to a “b-” rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.67.

About Denny’s Corporation

Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.

Earnings History for Denny`s Corporation (NASDAQ:DENN)

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