Zacks Investment Research upgraded shares of Domino’s Pizza Inc (NYSE:DPZ) from a hold rating to a buy rating in a research report report published on Friday. Zacks Investment Research currently has $213.00 target price on the restaurant operator’s stock.
According to Zacks, “Domino's shares have outpaced the industry year to date. The company’s solid brand positioning should continue to boost sales in the upcoming quarters. Also, efforts to accelerate its presence in high-growth international markets bode well. Notably, the company’s revenues and earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters. In fact, second-quarter 2017 marked the 25th and 94th consecutive quarter of positive same-store-sales domestically and internationally, respectively. However, a soft consumer spending environment in the U.S. restaurants space might limit revenue growth. Higher costs and negative currency translation are likely to hurt profits too. Nevertheless, going forward, Domino's initiatives on the digital front, focus on re-imaging and other sales boosting strategies are expected to help sustain the momentum.”
Several other brokerages have also commented on DPZ. BidaskClub lowered shares of Domino’s Pizza from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Instinet reaffirmed a neutral rating and set a $198.00 price target (up previously from $196.00) on shares of Domino’s Pizza in a research report on Saturday, July 22nd. BTIG Research reaffirmed a buy rating and set a $233.00 price target (up previously from $213.00) on shares of Domino’s Pizza in a research report on Thursday, June 1st. Wells Fargo & Company reaffirmed a market perform rating and set a $212.00 price target on shares of Domino’s Pizza in a research report on Tuesday, July 18th. Finally, Longbow Research raised shares of Domino’s Pizza from a neutral rating to a buy rating and set a $229.00 price target for the company in a research report on Friday, July 28th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Domino’s Pizza has an average rating of Hold and a consensus price target of $196.64.
Domino’s Pizza (NYSE:DPZ) traded up 2.51% during mid-day trading on Friday, reaching $194.68. 1,916,137 shares of the company traded hands. Domino’s Pizza has a 52-week low of $149.67 and a 52-week high of $221.58. The stock has a 50-day moving average of $187.83 and a 200 day moving average of $194.30. The stock has a market capitalization of $9.39 billion, a PE ratio of 38.69 and a beta of 0.36.
Domino’s Pizza (NYSE:DPZ) last issued its quarterly earnings results on Tuesday, July 25th. The restaurant operator reported $1.32 EPS for the quarter, topping the consensus estimate of $1.23 by $0.09. Domino’s Pizza had a net margin of 9.40% and a negative return on equity of 13.28%. The firm had revenue of $628.61 million during the quarter, compared to analyst estimates of $609.87 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. Domino’s Pizza’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts expect that Domino’s Pizza will post $5.69 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, September 14th. Domino’s Pizza’s payout ratio is 36.65%.
Domino’s Pizza announced that its board has authorized a share buyback plan on Wednesday, August 2nd that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the restaurant operator to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC grew its holdings in Domino’s Pizza by 19.5% during the 1st quarter. IHT Wealth Management LLC now owns 569 shares of the restaurant operator’s stock valued at $105,000 after purchasing an additional 93 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in Domino’s Pizza by 25.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 500 shares of the restaurant operator’s stock valued at $105,000 after purchasing an additional 100 shares in the last quarter. Toronto Dominion Bank grew its holdings in Domino’s Pizza by 12.2% during the 2nd quarter. Toronto Dominion Bank now owns 590 shares of the restaurant operator’s stock valued at $125,000 after purchasing an additional 64 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Domino’s Pizza during the 2nd quarter valued at $127,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Domino’s Pizza by 115.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 687 shares of the restaurant operator’s stock valued at $145,000 after purchasing an additional 368 shares in the last quarter. 94.33% of the stock is owned by institutional investors and hedge funds.
About Domino’s Pizza
Domino’s Pizza, Inc is a pizza restaurant chain company. As of January 1, 2017, the Company operated in over 13,800 locations in over 85 markets around the world. The Company operates through three segments: domestic stores, international franchise and supply chain. Its basic menu features pizza products in various sizes and crust types.
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