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PZZA

Papa John's

$51.37

-2.12 (-3.96%)

16:23
05/07/19
05/07
16:23
05/07/19
16:23

Papa John's reports Q1 EPS ex-items 31c, consensus 24c

Reports Q1 revenue $398.41M, consensus $385.54M. Reports System-wide North America comparable sales decrease of 6.9%; International comparable sales decrease of 0.1%; international franchise sales increase of 10.5%, excluding the impact of foreign currency. Steve Ritchie, President and CEO of Papa John's, said, "The first quarter was a time of promise for Papa John's. We made further progress in transforming the culture, thinking and momentum within the company. We have significantly strengthened and refreshed the company's leadership, adding talented members to the senior management team and highly-qualified directors to the board this year. At the same time, we continued reevaluating all aspects of our go-to-market strategy, identifying multiple opportunities to improve the customer experience, customer value proposition and franchisee unit economics. Last quarter, we made several improvements in the key drivers of our business. Substantial, positive change takes time and effort, but with the passion and dedication of our team members and franchise partners, I am very excited about the future of Papa John's."

  • 07

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PZZA Papa John's
$51.37

-2.12 (-3.96%)

02/27/19
SPHN
02/27/19
NO CHANGE
Target $55
SPHN
Overweight
Papa John's guidance better than feared, says Stephens
Stephens analyst Will Slabaugh said Papa John's February update was "somewhat encouraging" and that the company's guidance for FY19 was "better than feared." While he expects sales and margins to remain pressured throughout 2019, Slabaugh thinks market expectations are for a choppy recovery and the quarterly report "helped to keep the hope for $2.00 in EPS power alive," he tells investors. He maintains an Overweight rating and $55 price target on Papa John's shares.
03/27/19
STFL
03/27/19
UPGRADE
Target $45
STFL
Hold
Papa John's upgraded to Hold from Sell at Stifel
Stifel analyst Chris O'Cull upgraded Papa John's International to Hold from Sell and raised his price target for the shares to $45 from $35. The analyst believes the company's turnaround has entered a phase where investors believe the worst is behind it "and are willing to accord the company a hall pass to see whether the sales plan can work." The more optimistic sentiment stems from the view that the new board of directors and new brand spokesperson Shaquille O'Neal can reverse the declining traffic and EBITDA trends, O'Cull tells investors in a research note titled "Sell Thesis Not a Slam Dunk; Investors Optimism Outweighing Fundamentals." The analyst remains concerned that low franchisee profits will require ongoing financial support from Papa John's and declining transactions will pressure commissary profits, but he believes investor optimism will likely outweigh these fundamental issues in the near-term.
03/27/19
03/27/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bed Bath & Beyond (BBBY) upgraded to Hold from Sell at Loop Capital with analyst Anthony Chukumba citing the recent proxy contest threat was posed by an activist hedge fund consortium amassing 5% of the company stock. 2. Papa John's (PZZA) upgraded to Hold from Sell at Stifel with analyst Chris O'Cull saying he believes the company's turnaround has entered a phase where investors believe the worst is behind it "and are willing to accord the company a hall pass to see whether the sales plan can work." 3. ON Semiconductor (ON) upgraded to Buy from Neutral at Goldman Sachs with analyst Mark Delaney saying while not immune to cyclical risks, ON has improved its exposure to secular opportunities in advanced driver assistance system image sensors, electric vehicles and the cloud. 4. Ralph Lauren (RL) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying he views the company as a "rare standout" in his space, with increased visibility, running ahead of plan and with the potential for accelerating growth in the years ahead. 5. Lumentum (LITE) upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/01/19
KERI
04/01/19
UPGRADE
KERI
Buy
Papa John's upgraded to Buy from Neutral at Kalinowski

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