These Analysts Revise Their Forecasts On Domino’s After Q2 Results

Domino’s Pizza Inc. (NASDAQ:DPZ) on Monday reported second-quarter revenue that topped Wall Street estimates, although earnings per share missed expectations.

Revenue increased 4.3% year over year to $1.194 billion, exceeding analysts’ estimates of $1.18 billion. Adjusted earnings came in at $4.07 per share, below the consensus estimate of $4.20.

“In the second quarter, Domino’s drove meaningful order count growth,” said Russell Weiner, Domino’s Chief Executive Officer. “I believe order growth is the most important driver of long-term success in our business. In a quarter where the broader U.S. QSR industry continued to face pressure on consumer demand, Domino’s generated order count growth across both our delivery and carryout businesses, bringing millions of new customers to our brand.”

Domino’s shares rose 0.6% to trade at $331.02 on Tuesday.

These analysts made changes to their price targets on Domino’s following earnings announcement.

• TD Cowen analyst Andrew M. Charles maintained the stock with a Hold and raised the price target from $295 to $310.
• BMO Capital analyst Andrew Strelzik maintained the stock with an Outperform rating and cut the price target from $450 to $420.
• Evercore ISI Group analyst David Palmer maintained the stock with an Outperform rating and raised the price target from $350 to $375.

Considering buying DPZ stock? Here’s what analysts think:

Photo via Shutterstock