Brokers Issue Forecasts for Papa John’s International, Inc.’s Q2 2024 Earnings (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) – Investment analysts at Zacks Research dropped their Q2 2024 earnings estimates for shares of Papa John’s International in a report released on Thursday, May 23rd. Zacks Research analyst M. Kaushik now expects that the company will earn $0.49 per share for the quarter, down from their prior forecast of $0.62. The consensus estimate for Papa John’s International’s current full-year earnings is $2.43 per share. Zacks Research also issued estimates for Papa John’s International’s Q3 2024 earnings at $0.54 EPS, Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $2.36 EPS, Q1 2025 earnings at $0.76 EPS, Q4 2025 earnings at $0.76 EPS and Q1 2026 earnings at $0.82 EPS.

A number of other equities analysts also recently commented on PZZA. KeyCorp reduced their price objective on shares of Papa John’s International from $78.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, May 10th. StockNews.com downgraded shares of Papa John’s International from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Benchmark reduced their price objective on shares of Papa John’s International from $87.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Papa John’s International from $77.00 to $58.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Stifel Nicolaus raised shares of Papa John’s International from a “sell” rating to a “hold” rating and cut their price target for the company from $65.00 to $60.00 in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Papa John’s International presently has an average rating of “Moderate Buy” and an average target price of $76.36.

Papa John’s International Trading Up 0.7 %

NASDAQ:PZZA opened at $47.62 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 21.16, a PEG ratio of 1.69 and a beta of 1.16. The firm’s fifty day simple moving average is $60.77 and its 200 day simple moving average is $67.89. Papa John’s International has a 1 year low of $46.81 and a 1 year high of $86.38.

Papa John’s International (NASDAQ:PZZA) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.58 by $0.09. Papa John’s International had a net margin of 3.50% and a negative return on equity of 19.46%. The company had revenue of $513.90 million for the quarter, compared to analyst estimates of $544.46 million. During the same quarter in the prior year, the business posted $0.68 EPS. Papa John’s International’s quarterly revenue was down 2.5% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cutler Group LLC CA bought a new position in Papa John’s International in the 4th quarter valued at approximately $32,000. SRS Capital Advisors Inc. raised its holdings in Papa John’s International by 396.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 422 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Papa John’s International during the 4th quarter worth approximately $41,000. Covestor Ltd grew its position in shares of Papa John’s International by 277.8% during the 3rd quarter. Covestor Ltd now owns 733 shares of the company’s stock worth $50,000 after buying an additional 539 shares during the period. Finally, CWM LLC grew its position in shares of Papa John’s International by 23.5% during the 4th quarter. CWM LLC now owns 819 shares of the company’s stock worth $62,000 after buying an additional 156 shares during the period.

Insiders Place Their Bets

In related news, CEO Ravi Thanawala acquired 1,900 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $52.41 per share, for a total transaction of $99,579.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,920 shares in the company, valued at $2,039,797.20. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Papa John’s International news, CEO Ravi Thanawala purchased 1,900 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $52.41 per share, for a total transaction of $99,579.00. Following the completion of the purchase, the chief executive officer now owns 38,920 shares of the company’s stock, valued at approximately $2,039,797.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Laurette T. Koellner sold 2,886 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $70.21, for a total transaction of $202,626.06. Following the completion of the transaction, the director now owns 18,804 shares in the company, valued at $1,320,228.84. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Papa John’s International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, May 17th. Papa John’s International’s dividend payout ratio (DPR) is currently 81.78%.

Papa John’s International 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. The company operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.