DineEquity, Inc (DIN) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of DineEquity, Inc (NYSE:DIN) from a buy rating to a hold rating in a research report report published on Monday.
According to Zacks, “IHOP Corp. develops, franchises and operates International House of Pancakes restaurants. IHOP restaurants feature moderately-priced, high-quality food and beverage items, and table service in an attractive and comfortable atmosphere. Although IHOP restaurants are best known for their award-winning pancakes, omelets and other breakfast specialties, IHOP restaurants are open throughout the day and evening hours and offer a broad array of lunch, dinner and snack items as well. “
Other analysts have also recently issued research reports about the stock. Raymond James Financial, Inc. reissued a market perform rating on shares of DineEquity in a research note on Monday, July 24th. Instinet upped their target price on shares of DineEquity from $55.00 to $58.00 and gave the company a neutral rating in a research note on Thursday, May 4th. Vetr raised shares of DineEquity from a buy rating to a strong-buy rating and set a $61.82 price objective on the stock in a research note on Wednesday, May 3rd. Maxim Group decreased their price objective on shares of DineEquity from $77.00 to $55.00 and set a buy rating on the stock in a research note on Tuesday, August 8th. Finally, Nomura reaffirmed a hold rating and set a $55.00 price objective on shares of DineEquity in a research note on Monday, April 17th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $56.47.
Shares of DineEquity (NYSE:DIN) traded down 0.05% during trading on Monday, reaching $39.54. 184,702 shares of the company’s stock were exchanged. DineEquity has a 52-week low of $36.71 and a 52-week high of $88.00. The company has a market capitalization of $711.09 million, a PE ratio of 8.80 and a beta of 0.39. The company has a 50 day moving average price of $41.94 and a 200-day moving average price of $51.05.
DineEquity (NYSE:DIN) last posted its earnings results on Thursday, August 10th. The restaurant operator reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.10. The business had revenue of $155.20 million for the quarter, compared to analysts’ expectations of $155.33 million. DineEquity had a net margin of 13.02% and a return on equity of 38.34%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. On average, equities analysts forecast that DineEquity will post $4.57 earnings per share for the current year.
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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 dividend on an annualized basis and a dividend yield of 9.81%. DineEquity’s payout ratio is 86.61%.
In other DineEquity news, Director Stephen P. Joyce acquired 2,265 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $44.07 per share, for a total transaction of $99,818.55. Following the completion of the acquisition, the director now directly owns 5,488 shares of the company’s stock, valued at approximately $241,856.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.15% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. FMR LLC raised 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 valued at $118,803,000 after buying an additional 1,005,504 shares in the last quarter. BlackRock Inc. increased its stake in shares of DineEquity by 66,627.1% in the first quarter. BlackRock Inc. now owns 2,055,863 shares of the restaurant operator’s stock valued at $111,881,000 after buying an additional 2,052,782 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of DineEquity by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,578,848 shares of the restaurant operator’s stock valued at $69,548,000 after buying an additional 56,955 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of DineEquity by 17.3% in the second quarter. Wells Fargo & Company MN now owns 886,539 shares of the restaurant operator’s stock valued at $39,051,000 after buying an additional 130,946 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in shares of DineEquity by 41.7% in the second quarter. EdgePoint Investment Group Inc. now owns 599,055 shares of the restaurant operator’s stock valued at $26,388,000 after buying an additional 176,412 shares during the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.
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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