Zacks Research Comments on Papa John’s International, Inc.’s Q2 2024 Earnings (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) – Equities research analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for shares of Papa John’s International in a research note issued to investors on Thursday, May 23rd. Zacks Research analyst M. Kaushik now anticipates that the company will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.62. The consensus estimate for Papa John’s International’s current full-year earnings is $2.46 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.

PZZA has been the topic of several other reports. Stifel Nicolaus raised Papa John’s International from a “sell” rating to a “hold” rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Monday, April 22nd. KeyCorp decreased their target price on Papa John’s International from $78.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. BMO Capital Markets decreased their target price on Papa John’s International from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. StockNews.com downgraded Papa John’s International from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. Finally, Stephens reissued an “overweight” rating and issued a $75.00 target price on shares of Papa John’s International in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently 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 price-to-earnings ratio of 21.16, a PEG ratio of 1.73 and a beta of 1.16. Papa John’s International has a 1-year low of $46.81 and a 1-year high of $86.38. The business’s fifty day moving average price is $60.77 and its 200 day moving average price is $67.89.

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

Papa John’s International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.46 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.84 dividend on an annualized basis and a yield of 3.86%. Papa John’s International’s payout ratio is 81.78%.

Insider Activity at Papa John’s International

In other Papa John’s International news, Director Laurette T. Koellner sold 2,886 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $70.21, for a total transaction of $202,626.06. Following the sale, the director now owns 18,804 shares of the company’s stock, valued at $1,320,228.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ravi Thanawala purchased 1,900 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $52.41 per share, with a total value of $99,579.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Laurette T. Koellner sold 2,886 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $70.21, for a total transaction of $202,626.06. Following the sale, the director now directly owns 18,804 shares in the company, valued at approximately $1,320,228.84. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Papa John’s International

A number of institutional investors and hedge funds have recently made changes to their positions in PZZA. Yousif Capital Management LLC boosted its position in shares of Papa John’s International by 10.9% during the 3rd quarter. Yousif Capital Management LLC now owns 16,207 shares of the company’s stock worth $1,106,000 after purchasing an additional 1,593 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Papa John’s International by 13.5% during the 3rd quarter. Principal Financial Group Inc. now owns 516,345 shares of the company’s stock worth $35,225,000 after purchasing an additional 61,450 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Papa John’s International by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 137,977 shares of the company’s stock worth $9,413,000 after purchasing an additional 5,525 shares in the last quarter. Jump Financial LLC boosted its position in shares of Papa John’s International by 427.2% during the 3rd quarter. Jump Financial LLC now owns 18,804 shares of the company’s stock worth $1,283,000 after purchasing an additional 15,237 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Papa John’s International during the 3rd quarter worth about $257,000.

About Papa John’s International

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.