Zacks Investment Research upgraded shares of Domino’s Pizza (NYSE:DPZ) from a hold rating to a buy rating in a report released on Monday morning, Zacks.com reports. They currently have $391.00 price objective on the restaurant operator’s stock.
According to Zacks, “Shares of Domino's have outperformed the industry in the past year. The company reported fourth-quarter 2019 results, with earnings and revenues surpassing the Zacks Consensus Estimate and increasing year over year. Moreover, the fourth-quarter results marked the company’s 35th and 104th consecutive quarter of positive same-store sales on the domestic and international front, respectively. The company has been benefitting from solid digital ordering system and robust international expansion. Moreover, increased store count and company’s efforts on the digital front bode well. Notably, earnings estimates for 2020 have witnessed upward revision in the past 30 days. However, high costs and negative currency translation are concerns.”
A number of other brokerages have also recently weighed in on DPZ. Deutsche Bank lifted their price objective on Domino’s Pizza from $208.00 to $276.00 and gave the company a sell rating in a research note on Friday, February 21st. Guggenheim lifted their price objective on Domino’s Pizza from $327.00 to $411.00 and gave the company a buy rating in a research note on Friday, February 21st. Cowen cut Domino’s Pizza from an outperform rating to a market perform rating and lifted their price objective for the company from $325.00 to $380.00 in a research note on Monday. Morgan Stanley lifted their price objective on Domino’s Pizza from $333.00 to $388.00 and gave the company an overweight rating in a research note on Friday, February 21st. Finally, Oppenheimer lifted their price objective on Domino’s Pizza from $325.00 to $405.00 and gave the company an outperform rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $347.07.
Shares of NYSE DPZ opened at $366.67 on Monday. Domino’s Pizza has a twelve month low of $220.90 and a twelve month high of $381.86. The stock has a fifty day simple moving average of $296.70 and a 200-day simple moving average of $272.02. The stock has a market capitalization of $14.04 billion, a PE ratio of 38.35, a PEG ratio of 2.49 and a beta of 0.52.
Domino’s Pizza (NYSE:DPZ) last issued its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $3.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.20. Domino’s Pizza had a negative return on equity of 13.12% and a net margin of 11.07%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $2.62 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, analysts expect that Domino’s Pizza will post 10.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.85%. This is a boost from Domino’s Pizza’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, March 12th. Domino’s Pizza’s payout ratio is presently 27.17%.
In other Domino’s Pizza news, Director Andy Ballard sold 1,400 shares of Domino’s Pizza stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $290.51, for a total transaction of $406,714.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Brandon sold 6,500 shares of Domino’s Pizza stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $375.62, for a total value of $2,441,530.00. Following the sale, the director now directly owns 4,628 shares of the company’s stock, valued at $1,738,369.36. The disclosure for this sale can be found here. Insiders have sold a total of 62,900 shares of company stock valued at $21,160,744 over the last ninety days. 1.62% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DPZ. State of New Jersey Common Pension Fund D purchased a new stake in Domino’s Pizza during the 3rd quarter worth about $7,411,000. Cutler Group LP lifted its holdings in shares of Domino’s Pizza by 114.4% in the 3rd quarter. Cutler Group LP now owns 421 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 3,349 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Domino’s Pizza by 5.6% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 27,337 shares of the restaurant operator’s stock valued at $6,686,000 after purchasing an additional 1,443 shares during the last quarter. BB&T Securities LLC lifted its holdings in shares of Domino’s Pizza by 30.9% in the 3rd quarter. BB&T Securities LLC now owns 3,236 shares of the restaurant operator’s stock valued at $794,000 after purchasing an additional 763 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Domino’s Pizza in the 3rd quarter valued at about $3,669,000. 86.35% of the stock is owned by institutional investors.
Domino’s Pizza Company Profile
Domino's Pizza, Inc, through its subsidiaries, operates as a pizza delivery company in the United States and internationally. It operates in three segments: U.S. Stores, International Franchise, and Supply Chain. The company offers pizzas under the Domino's brand name through company-owned and franchised stores.
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