Papa John’s International, Inc. (NASDAQ:PZZA) – Equities research analysts at Jefferies Group raised their Q3 2017 earnings per share (EPS) estimates for Papa John’s International in a research report issued to clients and investors on Wednesday. Jefferies Group analyst A. Slagle now forecasts that the company will earn $0.59 per share for the quarter, up from their prior estimate of $0.57. Jefferies Group currently has a “Hold” rating and a $83.00 target price on the stock.
PZZA has been the topic of several other research reports. Instinet boosted their price target on Papa John’s International from $76.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, May 3rd. KeyCorp reaffirmed an “equal weight” rating on shares of Papa John’s International in a report on Tuesday, June 20th. Zacks Investment Research raised Papa John’s International from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Stephens reaffirmed an “overweight” rating and issued a $90.00 price objective (down previously from $100.00) on shares of Papa John’s International in a report on Monday, June 26th. Finally, BidaskClub lowered Papa John’s International from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Papa John’s International presently has a consensus rating of “Hold” and an average price target of $89.17.
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Papa John’s International (NASDAQ:PZZA) opened at 77.87 on Monday. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 27.12 and a beta of 0.51. The company’s 50-day moving average price is $74.57 and its 200 day moving average price is $78.87. Papa John’s International has a 12 month low of $70.73 and a 12 month high of $90.49.
Papa John’s International (NASDAQ:PZZA) last announced its earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. The company had revenue of $434.78 million for the quarter, compared to analyst estimates of $438.51 million. During the same period in the prior year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year.
Large investors have recently bought and sold shares of the stock. Airain ltd bought a new stake in Papa John’s International during the second quarter worth about $987,000. Prudential Financial Inc. raised its stake in Papa John’s International by 275.1% in the second quarter. Prudential Financial Inc. now owns 420,107 shares of the company’s stock worth $30,147,000 after buying an additional 308,110 shares during the last quarter. Victory Capital Management Inc. raised its stake in Papa John’s International by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the company’s stock worth $185,000 after buying an additional 386 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Papa John’s International by 0.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,227 shares of the company’s stock worth $1,308,000 after buying an additional 128 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its stake in Papa John’s International by 391.8% in the second quarter. Marshall Wace North America L.P. now owns 244,530 shares of the company’s stock worth $17,607,000 after buying an additional 194,804 shares during the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Steve M. Ritchie sold 10,396 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $80.00, for a total value of $831,680.00. Following the sale, the insider now owns 37,601 shares of the company’s stock, valued at approximately $3,008,080. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Lance F. Tucker sold 4,051 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $82.39, for a total value of $333,761.89. Following the completion of the sale, the chief financial officer now directly owns 25,522 shares in the company, valued at approximately $2,102,757.58. The disclosure for this sale can be found here. Insiders have sold a total of 20,447 shares of company stock worth $1,656,182 in the last three months. Corporate insiders own 27.70% of the company’s stock.
Papa John’s International announced that its board has initiated a share repurchase plan on Tuesday, August 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 198% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.225 per share. This is a positive change from Papa John’s International’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. Papa John’s International’s payout ratio is 31.36%.
Papa John’s International Company Profile
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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