Papa Johns International (NASDAQ:PZZA) Shares Gap Up Following Better-Than-Expected Earnings

Papa Johns International, Inc. (NASDAQ:PZZA)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $46.24, but opened at $48.74. Papa Johns International shares last traded at $46.41, with a volume of 146,050 shares changing hands.

The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. Papa Johns International had a net margin of 4.51% and a negative return on equity of 19.61%.

Papa Johns International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were issued a $0.46 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.84 annualized dividend and a dividend yield of 3.94%. Papa Johns International’s payout ratio is currently 64.11%.

Analysts Set New Price Targets

PZZA has been the topic of several research analyst reports. Loop Capital decreased their price target on shares of Papa Johns International from $73.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. KeyCorp cut Papa Johns International from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 14th. Jefferies Financial Group reduced their target price on Papa Johns International from $55.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Papa Johns International in a research note on Wednesday, January 15th. Finally, UBS Group reduced their target price on Papa Johns International from $56.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

Institutional Trading of Papa Johns International

Institutional investors have recently modified their holdings of the company. Irth Capital Management LP purchased a new stake in shares of Papa Johns International during the fourth quarter worth about $66,883,000. Moody National Bank Trust Division raised its stake in Papa Johns International by 142.3% in the fourth quarter. Moody National Bank Trust Division now owns 22,644 shares of the company’s stock worth $930,000 after buying an additional 13,297 shares in the last quarter. Natixis Advisors LLC raised its stake in Papa Johns International by 85.9% in the third quarter. Natixis Advisors LLC now owns 190,037 shares of the company’s stock worth $10,237,000 after buying an additional 87,801 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in Papa Johns International by 19.3% in the third quarter. Stephens Investment Management Group LLC now owns 1,091,733 shares of the company’s stock worth $58,812,000 after buying an additional 176,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Papa Johns International by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 378,676 shares of the company’s stock worth $20,399,000 after buying an additional 28,883 shares in the last quarter.

Papa Johns International Price Performance

The company has a market capitalization of $1.52 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.41 and a beta of 1.19. The stock’s 50 day moving average is $41.26 and its 200-day moving average is $46.76.

Papa Johns International Company Profile

Papa John’s International, Inc engages in the operation and franchise of pizza delivery and carryout restaurants. It operates through the following segments: Domestic Company-owned Restaurants, North America Franchising, North America Commissaries, International Operations, and All Others. The Domestic Company-Owned Restaurants segment consists of retail sales of pizza and side items, breadsticks, cheese sticks, chicken poppers and wings, dessert items, and canned and bottled beverages.