Maxim Group Maintains a Buy Rating on Denny’s Corp (DENN)

By Jason Carr

In a report released yesterday, Stephen Anderson from Maxim Group maintained a Buy rating on Denny’s Corp (DENNResearch Report), with a price target of $21. The company’s shares closed yesterday at $17.66.

Anderson observed:

“We maintain our Buy rating and $21 price target on Denny’s (DENN) ahead of the release of 1Q19 (March) results on the close. We lower our 1Q19 EPS estimate to $0.14, from $0.16 (vs. $0.13 Street), as we reduce our quarterly comp estimate to +1.0%, from +2.0% (vs. +1.1% consensus). We also lower our 2019 EPS estimate to $0.75, from $0.79 (vs. $0.68 Street) as we adjust for the timing of SG&A and other expenses. Nevertheless, we model a 30% jump in 2020 EPS to $0.98 (vs. $1.01 prior and $0.80 Street) as we expect DENN’s refranchising initiative to result in margin expansion and gradual return to unit growth.”

According to, Anderson is a 5-star analyst with an average return of 9.8% and a 67.4% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Famous Dave’s Of America.

Denny’s Corp has an analyst consensus of Strong Buy, with a price target consensus of $20.33, representing a 15.1% upside. In a report issued on April 17, Wedbush also maintained a Buy rating on the stock with a $20 price target.

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Denny’s Corp’s market cap is currently $1.09B and has a P/E ratio of 26.40. The company has a Price to Book ratio of -8.15.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Mark Wolfinger, the EVP, Chief Admin Officer & CFO of DENN sold 7,450 shares for a total of $137,556.

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Denny’s Corp. operates as a family restaurant chain, which owns and operates Denny’s restaurant brand. It provides breakfast, lunch and dinner including craveable burgers, sandwiches, salads and entrees. The company also offers appetizers and desserts cater to the late-night crowd.