Papa John’s International (NASDAQ:PZZA) Shares Gap Down – What’s Next?

Papa John’s International, Inc. (NASDAQ:PZZA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $36.77, but opened at $34.58. Papa John’s International shares last traded at $34.7450, with a volume of 470,481 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PZZA. Stephens restated an “overweight” rating and issued a $40.00 target price on shares of Papa John’s International in a report on Wednesday. Mizuho lowered their price objective on Papa John’s International from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Wall Street Zen raised Papa John’s International from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings downgraded Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Benchmark cut their price objective on shares of Papa John’s International from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.50.

Papa John’s International Price Performance

The stock has a market capitalization of $1.17 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The company has a 50 day simple moving average of $34.29 and a 200-day simple moving average of $35.22.

Papa John’s International (NASDAQ:PZZA) last posted its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). Papa John’s International had a negative return on equity of 10.71% and a net margin of 1.37%.The business had revenue of $478.61 million during the quarter, compared to analysts’ expectations of $485.51 million. During the same quarter in the previous year, the business earned $0.36 EPS. Papa John’s International’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities analysts forecast that Papa John’s International, Inc. will post 1.51 earnings per share for the current fiscal year.

Papa John’s International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Monday, May 18th. Papa John’s International’s payout ratio is 221.69%.

Hedge Funds Weigh In On Papa John’s International

A number of large investors have recently modified their holdings of the company. Irenic Capital Management LP purchased a new stake in Papa John’s International during the third quarter valued at about $51,699,000. Marshall Wace LLP purchased a new stake in Papa John’s International in the 4th quarter worth approximately $12,969,000. Quinn Opportunity Partners LLC purchased a new stake in Papa John’s International in the 4th quarter worth approximately $12,767,000. Earnest Partners LLC increased its position in Papa John’s International by 19.6% during the 4th quarter. Earnest Partners LLC now owns 1,947,248 shares of the company’s stock valued at $74,950,000 after purchasing an additional 318,816 shares during the period. Finally, Gumshoe Capital Management LLC bought a new position in Papa John’s International in the fourth quarter worth about $10,034,000.

About Papa John’s International

Papa John’s International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John’s restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.

The core menu at Papa John’s centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.