Zacks Investment Research lowered shares of Papa John’s Int’l (NASDAQ:PZZA) from a hold rating to a sell rating in a report released on Wednesday.
According to Zacks, “Shares of Papa John’s have underperformed the industry in the past year. During third-quarter 2018, both earnings and revenues lagged the Zacks Consensus Estimate and also declined year over year. This downside can be attributed to dismal domestic company-owned restaurant sales and a decline in North America commissary sales on weak volumes. This was partially mitigated by higher international sales, other revenues and a positive impact of the forex rates. Moreover, the company is likely to benefit from its consistent international expansion plans and strategic partnerships. Also, Papa John’s is investing heavily in technology-driven initiatives like digital ordering to boost sales. Additionally, in order to revive its brand image and reinvigorate growth, the company announced an assistance program for its U.S. and Canada franchisees.”
Several other research firms have also recently issued reports on PZZA. Bank of America upgraded shares of Papa John’s Int’l from a neutral rating to a buy rating in a research note on Monday, August 27th. Stephens lowered their target price on shares of Papa John’s Int’l from $60.00 to $55.00 and set an overweight rating on the stock in a research note on Wednesday, August 8th. Stifel Nicolaus lowered their target price on shares of Papa John’s Int’l from $38.00 to $35.00 and set a sell rating on the stock in a research note on Wednesday, August 8th. ValuEngine cut shares of Papa John’s Int’l from a hold rating to a sell rating in a research note on Tuesday, September 4th. Finally, Longbow Research increased their target price on shares of Papa John’s Int’l from $52.00 to $61.00 and gave the stock a buy rating in a research note on Monday, October 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Papa John’s Int’l presently has an average rating of Hold and a consensus price target of $59.50.
Papa John’s Int’l (NASDAQ:PZZA) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.03). The business had revenue of $364.01 million during the quarter, compared to the consensus estimate of $390.62 million. Papa John’s Int’l had a negative return on equity of 27.98% and a net margin of 2.64%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. On average, analysts predict that Papa John’s Int’l will post 1.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Monday, November 12th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, November 8th. Papa John’s Int’l’s dividend payout ratio is presently 34.35%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PZZA. Credit Suisse AG lifted its stake in Papa John’s Int’l by 1,565.4% in the 3rd quarter. Credit Suisse AG now owns 563,736 shares of the company’s stock worth $28,909,000 after purchasing an additional 529,887 shares in the last quarter. FIL Ltd purchased a new stake in shares of Papa John’s Int’l during the 3rd quarter valued at $24,598,000. Litespeed Management L.L.C. purchased a new stake in shares of Papa John’s Int’l during the 3rd quarter valued at $10,317,000. Point72 Asset Management L.P. raised its position in shares of Papa John’s Int’l by 121.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 294,043 shares of the company’s stock valued at $14,914,000 after buying an additional 161,302 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Papa John’s Int’l by 231.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 222,900 shares of the company’s stock valued at $11,430,000 after buying an additional 155,700 shares in the last quarter. Institutional investors and hedge funds own 71.33% of the company’s stock.
Papa John’s Int’l Company Profile
Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through five segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, International Operations, and All Others.
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