Domino's Pizza Analysts Increase Their Forecasts After Upbeat Earnings

Domino's Pizza, Inc. DPZ reported better-than-expected earnings for its first quarter on Monday.

The company posted quarterly earnings of $4.33 per share which beat the analyst consensus estimate of $4.07 per share. The company reported quarterly sales of $1.11 billion which missed the analyst consensus estimate of $1.13 billion.

“Domino’s Q1 results demonstrate that our Hungry for MORE strategy continues to drive market share growth in QSR Pizza across both our US and international businesses,” said Russell Weiner, Domino’s Chief Executive Officer. “Sustained market share growth reflects a company’s ability to control what is under its control, a key to long term success. In the face of a challenging global macroeconomic environment, our Hungry for MORE strategic pillars are working together to drive MORE sales, MORE stores and MORE profits, annually. This is how we will deliver long term value for our franchisees and shareholders.”

Domino's shares gained 0.6% to close at $490.64 on Monday.

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

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TD Securities analyst Andrew Charles maintained Domino’s Pizza with a Buy and raised the price target from $490 to $510.
Morgan Stanley analyst Brian Harbour maintained the stock with an Overweight rating and raised the price target from $492 to $510.
Benchmark analyst Todd Brooks maintained Domino’s Pizza with a Buy and raised the price target from $520 to $535.

Considering buying DPZ stock? Here’s what analysts think: