PZZA The Bull and Bear Case on Papa John’s

By Mark Kalinowski Published on July 9, 2020 at 12:00 AM

In this report we examine the bull and bear cases regarding Papa John’s (PZZA; Buy, $88.26). While we maintain our Buy rating on PZZA — it continues to be our top small/mid-cap restaurant-stock pick — it is good for investors interested in PZZA to be aware of the bull and bear cases surrounding the stock, no matter what our rating on the shares is.

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PZZA (Post-Call) Shaq May be a Hero, But He Favors Papadias

By Mark Kalinowski Published on August 6, 2019 at 12:00 AM

After today’s (Tuesday’s) market close, Papa John’s (PZZA; Neutral) reported adjusted Q2 EPS of $0.28, below our $0.29 EPS estimate and sell-side consensus (according to Consensus Metrix) of $0.31. A shift in the timing of an operations conference hampered G&A by about $2 million in Q2 from a year-over-year perspective, but should help Q3 year-over-year. We calculate that this is roughly a $0.04-$0.05 amount from an EPS standpoint.

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PZZA Our Meeting with Management in Louisville

By Mark Kalinowski Published on May 29, 2019 at 12:00 AM

We recently met with Papa John’s (PZZA; Buy) — including President & CEO Steve Ritchie, Executive Vice President & Chief Operating and Growth Officer Michael R. Nettles, Senior Vice President & CFO Joseph H. Smith, and Vice President of Investor Relations & Strategy Steve Coke — in Louisville, Kentucky. We thank them for their time! Topics of interest that we asked about include new brand ambassador (as well as board member and franchisee) Shaquille O’Neal (a.k.a. Shaq), franchisee financial health, and delivery aggregators. We maintain our Buy rating on PZZA, and note the following:

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