Papa John’s International (NASDAQ:PZZA) announced that its Board of Directors has authorized a share buyback plan, which permits the company to repurchase $500.00 million in outstanding shares on Tuesday, August 1st, EventVestor reports. This repurchase authorization permits the company to repurchase up to 198% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Papa John’s International (NASDAQ PZZA) opened at 76.96 on Friday. Papa John’s International has a 52-week low of $70.73 and a 52-week high of $90.49. The stock has a market capitalization of $2.80 billion, a P/E ratio of 26.81 and a beta of 0.51. The company has a 50 day moving average of $74.73 and a 200-day moving average of $78.90.
Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm had revenue of $434.78 million for the quarter, compared to analysts’ expectations of $438.51 million. Papa John’s International had a net margin of 6.13% and a return on equity of 919.82%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. Equities research analysts anticipate that Papa John’s International will post $2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from Papa John’s International’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a yield of 1.17%. Papa John’s International’s dividend payout ratio is currently 27.87%.
A number of equities research analysts have recently weighed in on the stock. Longbow Research restated a “buy” rating and issued a $95.00 price objective on shares of Papa John’s International in a report on Monday, April 10th. Zacks Investment Research raised shares of Papa John’s International from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $83.00 target price on shares of Papa John’s International in a research report on Friday, July 14th. Stephens increased their target price 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. Finally, Instinet reaffirmed a “neutral” rating and issued a $78.00 target price (down from $84.00) on shares of Papa John’s International in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $89.17.
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In other Papa John’s International news, CFO Lance F. Tucker sold 4,051 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $82.39, for a total transaction of $333,761.89. Following the sale, the chief financial officer now directly owns 25,522 shares of the company’s stock, valued at $2,102,757.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy C. Ohern sold 6,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $81.79, for a total transaction of $490,740.00. Following the sale, the senior vice president now directly owns 36,020 shares in the company, valued at $2,946,075.80. The disclosure for this sale can be found here. Insiders sold 20,447 shares of company stock worth $1,656,182 over the last ninety days. 27.70% of the stock is currently owned by corporate insiders.
Papa John’s International Company Profile
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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