Papa John’s (NASDAQ:PZZA) shares are ticking higher today after the pizza delivery company’s fourth-quarter revenue increased by 9% year-over-year to $571.3 million. However, the figure missed expectations by nearly $6.8 million. Its EPS of $0.91, on the other hand, comfortably scaled past estimates by $0.19.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The pizza chain opened 89 new locations in Q4, bringing its total to 5,906 restaurants. Further, its North American comparable sales improved by 2% due to increased transactions and ticket size. This was the fourth consecutive year of positive comparable sales for the company in the North American region. In addition, Global system-wide restaurant sales surged by 11% to $1.34 billion. However, its International comparable sales trended lower by 6%. The pizza major is now focusing on improving performance in its UK business.
Earlier, Papa John’s announced that Shaquille O’Neal would not seek re-election as a director of the company. O’Neal’s involvement with PZZA for nearly five years proved to be a major boost for the company’s brand. While the basketball star is stepping away as a director, he will continue to be a Papa John’s restaurant owner and a brand ambassador for the company.
What Is the Price Target for PZZA Stock?
Papa John’s share price has gained by nearly 10% over the past three months. Overall, the Street has a Moderate Buy consensus rating on the stock alongside an average price target of $82. However, analysts’ views on the stock could see a revision following today’s earnings report.
Read full Disclosure
