FMP

FMP

Domino's Pizza Dropped 4% on Mixed Q3 Results

Domino's Pizza, Inc. (NYSE:DPZ) shares closed with a 4.73% loss on Friday following the company’s reported mixed Q3 results, impacted by staffing challenges and inflation.

Quarterly EPS came in at $3.24, above the consensus estimate of $3.11, on domestic SSS growth of -1.9% (vs. Street’s +1.6%) and international SSS growth of +8.8% (vs. Street’s +8.0%). The company attributed the weakness of U.S. SSS growth to a decline in transactions due to staffing shortages and the tapering off of stimulus benefits.

Analysts at Wedbush lowered their 2021 EPS estimate to $13.53 from $13.59, and their 2022 EPS estimate to $15.07 from $15.88. The brokerage reiterated its outperform rating, but lowered its price target to $550 from $585.