Papa John’s International, Inc. (NASDAQ:PZZA) released its quarterly earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01, Bloomberg Earnings reports. The business had revenue of $434.78 million for the quarter, compared to the consensus estimate of $438.51 million. Papa John’s International had a net margin of 6.13% and a return on equity of 919.82%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share.
Papa John’s International (NASDAQ:PZZA) traded up 1.05% during mid-day trading on Friday, hitting $78.69. 283,457 shares of the stock traded hands. Papa John’s International has a 12-month low of $70.73 and a 12-month high of $90.49. The stock has a market cap of $2.87 billion, a PE ratio of 27.41 and a beta of 0.51. The company has a 50 day moving average of $74.94 and a 200-day moving average of $78.66.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Papa John’s International’s previous quarterly dividend of $0.20. Papa John’s International’s payout ratio is currently 31.36%.
A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Papa John’s International from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $83.00 price objective on shares of Papa John’s International in a research report on Friday, July 14th. Stephens boosted their price objective on shares of Papa John’s International from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Instinet reissued a “neutral” rating and issued a $78.00 price objective (down from $84.00) on shares of Papa John’s International in a research report on Monday, July 31st. Finally, Longbow Research reissued a “buy” rating and issued a $95.00 price objective on shares of Papa John’s International in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $89.17.
Papa John’s International announced that its board has approved a stock repurchase plan on Tuesday, August 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 198% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Steve M. Ritchie sold 10,396 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $80.00, for a total transaction of $831,680.00. Following the completion of the transaction, the insider now owns 37,601 shares of the company’s stock, valued at $3,008,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy C. Ohern sold 6,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $81.79, for a total value of $490,740.00. Following the transaction, the senior vice president now directly owns 36,020 shares of the company’s stock, valued at approximately $2,946,075.80. The disclosure for this sale can be found here. Company insiders own 27.70% 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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