Jefferies Group Weighs in on Papa John’s International, Inc.’s FY2017 Earnings (PZZA)
Papa John’s International, Inc. (NASDAQ:PZZA) – Equities researchers at Jefferies Group reduced their FY2017 EPS estimates for Papa John’s International in a research report issued on Wednesday. Jefferies Group analyst A. Slagle now forecasts that the company will post earnings of $2.75 per share for the year, down from their prior forecast of $2.85. Jefferies Group has a “Hold” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Papa John’s International’s Q4 2017 earnings at $0.73 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.78 EPS and FY2018 earnings at $2.90 EPS.
A number of other research analysts have also recently issued reports on the company. BTIG Research reiterated a “buy” rating and issued a $90.00 target price (down previously from $100.00) on shares of Papa John’s International in a research report on Tuesday, October 24th. Citigroup Inc. started coverage on Papa John’s International in a research report on Monday, September 18th. They issued a “buy” rating and a $90.00 target price on the stock. Stephens decreased their target price on Papa John’s International from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 11th. Zacks Investment Research cut Papa John’s International from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, Instinet reiterated a “neutral” rating and issued a $78.00 target price (down previously from $84.00) on shares of Papa John’s International in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Papa John’s International presently has a consensus rating of “Hold” and a consensus price target of $79.56.
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Papa John’s International (NASDAQ PZZA) opened at $61.47 on Monday. Papa John’s International has a 12-month low of $59.36 and a 12-month high of $90.49. The company has a debt-to-equity ratio of -8.26, a current ratio of 1.21 and a quick ratio of 1.08. The stock has a market capitalization of $2,154.03, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.73 and a beta of 0.47.
Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). Papa John’s International had a net margin of 6.12% and a return on equity of 4,321.08%. The company had revenue of $431.70 million during the quarter, compared to analyst estimates of $427.23 million. During the same period last year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, November 6th. Papa John’s International’s dividend payout ratio (DPR) is currently 31.03%.
Papa John’s International declared that its board has approved a share buyback program on Tuesday, August 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 198% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In other news, SVP Timothy C. Ohern sold 9,218 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $75.08, for a total transaction of $692,087.44. Following the sale, the senior vice president now directly owns 35,650 shares in the company, valued at $2,676,602. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 27.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC grew its holdings in shares of Papa John’s International by 76.9% during the second quarter. Flinton Capital Management LLC now owns 1,840 shares of the company’s stock worth $132,000 after purchasing an additional 800 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Papa John’s International by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,574 shares of the company’s stock worth $185,000 after purchasing an additional 386 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Papa John’s International during the second quarter worth about $201,000. Riverhead Capital Management LLC grew its holdings in shares of Papa John’s International by 87.3% during the second quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock worth $215,000 after purchasing an additional 1,396 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in shares of Papa John’s International by 11.5% during the second quarter. LS Investment Advisors LLC now owns 3,047 shares of the company’s stock worth $219,000 after purchasing an additional 315 shares during the last quarter. Institutional investors own 84.18% of the company’s stock.
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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