Domino’s Pizza (NYSE:DPZ) announced a quarterly dividend on Wednesday, February 21st, Wall Street Journal reports. Investors of record on Thursday, March 15th will be given a dividend of 0.55 per share by the restaurant operator on Friday, March 30th. This represents a $2.20 annualized dividend and a yield of 0.97%. The ex-dividend date is Wednesday, March 14th. This is a boost from Domino’s Pizza’s previous quarterly dividend of $0.46.
Domino’s Pizza has increased its dividend by an average of 22.5% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Domino’s Pizza has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Domino’s Pizza to earn $9.21 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 20.0%.
Shares of Domino’s Pizza (DPZ) opened at $227.67 on Tuesday. The company has a market capitalization of $9,885.16, a P/E ratio of 38.92, a P/E/G ratio of 1.91 and a beta of 0.43. The company has a debt-to-equity ratio of -1.14, a quick ratio of 1.36 and a current ratio of 1.46. Domino’s Pizza has a one year low of $166.74 and a one year high of $236.00.
Domino’s Pizza declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 20th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Several research analysts have issued reports on the company. Argus upgraded Domino’s Pizza from a “hold” rating to a “buy” rating and increased their price target for the stock from $221.44 to $260.00 in a report on Wednesday, March 7th. Maxim Group increased their price target on Domino’s Pizza from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research lowered Domino’s Pizza from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Deutsche Bank increased their price target on Domino’s Pizza to $220.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Robert W. Baird initiated coverage on Domino’s Pizza in a report on Monday, March 5th. They issued an “outperform” rating and a $260.00 target price on the stock. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $232.00.
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About Domino’s Pizza
Domino's Pizza, Inc, through its subsidiaries, operates as a pizza delivery company in the United States and internationally. It operates through three segments: Domestic Stores, International Franchise, and Supply Chain. The company offers pizzas under the Domino's Pizza brand name through company-owned and franchised Domino's Pizza stores.
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