What is Zacks Research’s Forecast for PZZA Q3 Earnings?

Papa John’s International, Inc. (NASDAQ:PZZA) – Analysts at Zacks Research dropped their Q3 2026 earnings estimates for Papa John’s International in a report issued on Wednesday, August 19th. Zacks Research analyst Team now expects that the company will earn $0.14 per share for the quarter, down from their prior forecast of $0.28. Zacks Research has a “Strong Sell” rating on the stock. The consensus estimate for Papa John’s International’s current full-year earnings is $1.22 per share. Zacks Research also issued estimates for Papa John’s International’s Q1 2027 earnings at $0.28 EPS, Q2 2027 earnings at $0.20 EPS, Q4 2027 earnings at $0.26 EPS and FY2027 earnings at $1.00 EPS.

Papa John’s International (NASDAQ:PZZA) last issued its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Papa John’s International had a net margin of 1.34% and a negative return on equity of 10.98%. The company had revenue of $482.40 million for the quarter, compared to analysts’ expectations of $481.25 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was down 8.8% on a year-over-year basis.

Several other analysts have also commented on the company. Bank of America reaffirmed an “underperform” rating and issued a $34.00 price objective (down from $42.00) on shares of Papa John’s International in a report on Monday, July 13th. Weiss Ratings downgraded Papa John’s International from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 7th. Wall Street Zen raised Papa John’s International from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Benchmark downgraded Papa John’s International from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Stephens reaffirmed an “equal weight” rating and set a $24.00 price target (down from $38.00) on shares of Papa John’s International in a research report on Friday, August 7th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $32.00.

Papa John’s International Trading Up 0.2%

Shares of PZZA opened at $23.32 on Friday. The firm has a fifty day simple moving average of $31.35 and a two-hundred day simple moving average of $32.98. The firm has a market cap of $767.69 million, a PE ratio of 29.52, a P/E/G ratio of 2.42 and a beta of 1.13. Papa John’s International has a 1-year low of $22.77 and a 1-year high of $55.74.

Institutional Investors Weigh In On Papa John’s International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in Papa John’s International by 32.8% during the first quarter. Royal Bank of Canada now owns 19,028 shares of the company’s stock valued at $781,000 after purchasing an additional 4,705 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Papa John’s International in the first quarter worth about $600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Papa John’s International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,785 shares of the company’s stock worth $813,000 after buying an additional 879 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Papa John’s International by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 310,653 shares of the company’s stock worth $12,762,000 after buying an additional 62,103 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Papa John’s International by 81.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,592 shares of the company’s stock valued at $4,625,000 after buying an additional 50,536 shares in the last quarter.

Key Stories Impacting Papa John’s International

Here are the key news stories impacting Papa John’s International this week:

• Neutral Sentiment: The estimates were issued by Zacks Research on August 19 and repeated across multiple research notes; they represent one firm’s outlook rather than a new company earnings report.
• Negative Sentiment: Zacks cut its FY2026 EPS forecast to $1.21 from $1.40, close to the broader consensus estimate of $1.22. It also lowered Q4 2026 EPS to $0.29 from $0.39, suggesting weaker near-term earnings momentum.
• Negative Sentiment: Projected FY2027 EPS was reduced sharply to $1.00 from $1.55. Quarterly estimates were also cut to $0.14 for Q3 2026, $0.28 for Q1 2027, $0.20 for Q2 2027 and $0.26 for Q4 2027.
• Negative Sentiment: Zacks lowered its FY2028 EPS forecast to $1.54 from $1.74, including cuts to Q1 2028 EPS of $0.44 from $0.47 and Q2 2028 EPS of $0.27 from $0.38. The broad-based reductions point to concerns extending beyond a single quarter.
• Negative Sentiment: Zacks maintains a “Strong Sell” rating on PZZA. With shares trading well below their 50-day and 200-day moving averages and near the $22.77 52-week low, the lowered profit outlook may encourage additional selling and keep valuation concerns elevated.

About Papa John’s International

Papa John’s International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John’s restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.

The core menu at Papa John’s centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.