Domino’s Pizza (DPZ) to Repurchase $1.25 billion in Outstanding Stock
Domino’s Pizza (NYSE:DPZ) announced that its Board of Directors has authorized a share buyback program, which allows the company to repurchase $1.25 billion in shares on Wednesday, August 2nd, EventVestor reports. This repurchase authorization allows the restaurant operator to purchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have recently weighed in on DPZ shares. Jefferies Group LLC restated a “hold” rating and issued a $180.00 price objective on shares of Domino’s Pizza in a report on Wednesday, April 12th. Guggenheim started coverage on shares of Domino’s Pizza in a research note on Friday, April 21st. They issued a “buy” rating and a $192.00 target price on the stock. OTR Global reaffirmed a “positive” rating on shares of Domino’s Pizza in a research note on Saturday, April 22nd. Stephens reaffirmed an “equal weight” rating and issued a $185.00 target price on shares of Domino’s Pizza in a research note on Friday, April 28th. Finally, Instinet reaffirmed a “neutral” rating and issued a $196.00 target price (up from $174.00) on shares of Domino’s Pizza in a research note on Saturday, April 29th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $196.56.
Domino’s Pizza (NYSE:DPZ) opened at 195.43 on Tuesday. The firm’s 50-day moving average is $207.84 and its 200-day moving average is $192.31. The stock has a market capitalization of $9.43 billion, a P/E ratio of 38.84 and a beta of 0.35. Domino’s Pizza has a 12 month low of $143.47 and a 12 month high of $221.58.
Domino’s Pizza (NYSE:DPZ) last released its earnings results on Tuesday, July 25th. The restaurant operator reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.09. Domino’s Pizza had a negative return on equity of 13.28% and a net margin of 9.40%. The business had revenue of $628.61 million during the quarter, compared to the consensus estimate of $609.87 million. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts expect that Domino’s Pizza will post $5.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.94%. Domino’s Pizza’s dividend payout ratio (DPR) is 36.65%.
Domino’s Pizza Company Profile
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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