DineEquity Inc (NYSE:DIN) Issues Earnings Results
DineEquity Inc (NYSE:DIN) posted its earnings results on Thursday. The restaurant operator reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.10, Briefing.com reports. The firm had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $155.33 million. DineEquity had a net margin of 13.71% and a return on equity of 33.81%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share.
Shares of DineEquity (NYSE DIN) traded up 2.34% during trading on Friday, reaching $39.72. 662,113 shares of the company were exchanged. DineEquity has a one year low of $36.71 and a one year high of $88.00. The stock has a market capitalization of $714.32 million, a price-to-earnings ratio of 8.84 and a beta of 0.39. The company has a 50 day moving average price of $42.05 and a 200-day moving average price of $51.51.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Monday, September 18th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 9.77%. The ex-dividend date of this dividend is Friday, September 15th. DineEquity’s dividend payout ratio (DPR) is currently 86.61%.
In other news, Director Stephen P. Joyce purchased 2,265 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were purchased at an average cost of $44.07 per share, with a total value of $99,818.55. Following the completion of the purchase, the director now owns 5,488 shares of the company’s stock, valued at approximately $241,856.16. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.15% of the company’s stock.
Several hedge funds have recently made changes to their positions in DIN. Glen Harbor Capital Management LLC raised its stake in shares of DineEquity by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,836 shares of the restaurant operator’s stock worth $100,000 after buying an additional 136 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of DineEquity by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 3,332 shares of the restaurant operator’s stock worth $146,000 after buying an additional 1,482 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of DineEquity during the first quarter worth approximately $147,000. Municipal Employees Retirement System of Michigan raised its stake in shares of DineEquity by 2.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the restaurant operator’s stock worth $176,000 after buying an additional 100 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of DineEquity by 2,247.0% in the first quarter. Russell Investments Group Ltd. now owns 3,497 shares of the restaurant operator’s stock worth $190,000 after buying an additional 3,348 shares during the last quarter. 88.88% of the stock is currently owned by hedge funds and other institutional investors.
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A number of analysts have issued reports on the stock. Vetr upgraded shares of DineEquity from a “buy” rating to a “strong-buy” rating and set a $61.82 target price for the company in a research note on Wednesday, May 3rd. ValuEngine cut shares of DineEquity from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of DineEquity in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of DineEquity from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Maxim Group reduced their target price on shares of DineEquity from $77.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.47.
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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