Pizza Pizza Royalty (TSE:PZA) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Shares of Pizza Pizza Royalty Corp. (TSE:PZA) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$13.28 and traded as low as C$13.01. Pizza Pizza Royalty shares last traded at C$13.16, with a volume of 21,764 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TD decreased their price objective on shares of Pizza Pizza Royalty from C$14.00 to C$12.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$14.00.

Pizza Pizza Royalty Price Performance

The firm has a 50-day moving average price of C$13.28 and a 200-day moving average price of C$15.00. The stock has a market cap of C$444.87 million, a P/E ratio of 13.88 and a beta of 0.59. The company has a debt-to-equity ratio of 15.24, a quick ratio of 3.02 and a current ratio of 1.64.

Pizza Pizza Royalty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.0675 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Pizza Pizza Royalty’s payout ratio is presently 98.09%.

About Pizza Pizza Royalty

Pizza Pizza Royalty Corp., through its subsidiary, Pizza Pizza Royalty Limited Partnership, owns and franchises quick-service restaurants under the Pizza Pizza and Pizza73 brands. It offers a flavorful, varied and high-quality menu to pizza-lovers of all ages and tastes and it is composed of more than 600 traditional and non-traditional restaurants coast to coast, employing over 3,000 Canadians. The business activity of the group primarily functions through Canada.