Dine Brands Global (NYSE:DIN) Shares Gap Up to $31.23

Dine Brands Global, Inc. (NYSE:DIN)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $31.23, but opened at $33.87. Dine Brands Global shares last traded at $35.57, with a volume of 169,302 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial cut their price target on shares of Dine Brands Global from $71.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wedbush raised shares of Dine Brands Global from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $47.00 in a report on Tuesday. StockNews.com raised shares of Dine Brands Global from a “hold” rating to a “buy” rating in a report on Monday, September 2nd. Barclays dropped their price objective on shares of Dine Brands Global from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, KeyCorp dropped their price objective on shares of Dine Brands Global from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.71.

Dine Brands Global Price Performance

The firm has a market capitalization of $532.09 million, a P/E ratio of 6.15 and a beta of 1.72. The firm’s 50 day simple moving average is $31.61 and its two-hundred day simple moving average is $37.38.

Dine Brands Global (NYSE:DIN) last posted its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.07. The business had revenue of $206.30 million during the quarter, compared to the consensus estimate of $210.46 million. Dine Brands Global had a net margin of 11.14% and a negative return on equity of 35.88%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. As a group, equities research analysts forecast that Dine Brands Global, Inc. will post 5.86 EPS for the current year.

Dine Brands Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Friday, September 20th. Dine Brands Global’s dividend payout ratio is presently 36.30%.

Institutional Trading of Dine Brands Global

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of Dine Brands Global by 207.2% in the fourth quarter. Quarry LP now owns 725 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 489 shares during the period. Headlands Technologies LLC increased its position in shares of Dine Brands Global by 438.7% in the first quarter. Headlands Technologies LLC now owns 765 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 623 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Dine Brands Global by 3.6% in the second quarter. Nisa Investment Advisors LLC now owns 20,189 shares of the restaurant operator’s stock valued at $742,000 after acquiring an additional 695 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Dine Brands Global by 30.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,221 shares of the restaurant operator’s stock valued at $117,000 after acquiring an additional 746 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Dine Brands Global in the second quarter valued at about $35,000. 92.83% of the stock is owned by institutional investors.

About Dine Brands Global

Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, and operates restaurants in the United States and internationally. The company operates through six segments: Applebee's Franchise Operations, International House of Pancakes (IHOP) Franchise Solutions, Fuzzy's franchise operations, Rental Operations, Financing Operations, and Company-Operated Restaurant Operations.