Papa John’s International, Inc. (PZZA) Updates FY17 Earnings Guidance

Papa John’s International, Inc. (NASDAQ:PZZA) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.82-2.93 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.84.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Papa John’s International from a hold rating to a buy rating and set a $88.00 price objective for the company in a report on Friday, August 18th. Jefferies Group LLC reiterated a hold rating and issued a $83.00 price target on shares of Papa John’s International in a research note on Friday, July 14th. Stephens lifted their price target on shares of Papa John’s International from $90.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, August 2nd. Instinet reiterated a neutral rating and issued a $78.00 price target (down previously from $84.00) on shares of Papa John’s International in a research note on Monday, July 31st. Finally, Citigroup Inc. began coverage on shares of Papa John’s International in a research note on Monday, September 18th. They issued a buy rating and a $90.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $82.11.

Shares of Papa John’s International, Inc. (NASDAQ PZZA) traded up 1.51% on Tuesday, reaching $68.05. 1,137,232 shares of the company were exchanged. The stock has a market capitalization of $2.48 billion, a PE ratio of 23.70 and a beta of 0.50. Papa John’s International, Inc. has a 1-year low of $65.95 and a 1-year high of $90.49. The company has a 50-day moving average price of $71.02 and a 200 day moving average price of $75.72.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings data on Monday, October 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.01). Papa John’s International had a net margin of 6.13% and a return on equity of 919.82%. The firm had revenue of $431.70 million during the quarter, compared to analyst estimates of $427.23 million. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Papa John’s International, Inc. will post $2.84 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Tuesday, November 7th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, November 6th. Papa John’s International’s dividend payout ratio (DPR) is 31.36%.

Papa John’s International announced that its board has authorized a share repurchase program on Tuesday, August 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 198% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

In other news, SVP Timothy C. Ohern sold 9,218 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $75.08, for a total transaction of $692,087.44. Following the completion of the sale, the senior vice president now owns 35,650 shares of the company’s stock, valued at $2,676,602. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 27.70% of the stock is currently owned by company insiders.

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About Papa John’s International

Papa John’s International, Inc (Papa John’s) operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John’s. The Company operates through five segments: domestic Company-owned restaurants, North America commissaries, North America franchising, international operations and all other business units.

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