Domino's Pizza Analysts Cut Their Forecasts After Q3 Results

Domino's Pizza Inc DPZ reported better-than-expected third-quarter earnings results.

Domino's Pizza reported a third-quarter FY23 sales decline of 3.9% year-on-year to $1.03 billion, missing the analyst consensus of $1.05 billion. EPS of $4.18 beat the analyst consensus estimate of $3.30.

The company expects FY23 global retail sales growth, excluding foreign currency impact, to trend modestly below the mid-point of its 4% to 8% two -to three-year outlook.

Domino's shares gained 2.1% to trade at $357.42 on Friday.

These analysts made changes to their price targets on Domino's Pizza following earnings announcement.

• Citigroup lowered the price target on Domino's Pizza from $398 to $396. Citigroup analyst Jon Tower maintained a Neutral rating.
• RBC Capital cut the price target on Domino's Pizza from $460 to $455. RBC Capital analyst Christopher Carill maintained an Outperform rating.
• Wedbush analyst Nick Setyan, meanwhile, reiterated Domino's with an Outperform and maintained a $445 price target.
• Stephens & Co. analyst Joshua Long reiterated the stock with an Equal-Weight and maintained a $365 price target.

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