Research analysts at Goldman Sachs (NYSE: GS) assumed coverage on shares of Domino’s Pizza (NYSE: DPZ) in a report released on Friday. The firm set a “neutral” rating and a $35.00 price target on the stock.
The analysts wrote, “We see DPZ as being in the “Fountain of Youth” phase of its lifecycle, with emerging markets likely to provide growth for many years to come. India, in particular, appears to be on pace to reach 10% of all DPZ units by 2015. We introduce a Neutral rating, however, due to uncertainty in the US, still a meaningful driver of DPZ’s financial results. The US pizza delivery market is shrinking, periods of outperformance (as DPZ just experienced) tend to be fleeting, and our surveys suggest the Domino’s brand is weak relative to competitors.”
Shares of Domino’s Pizza traded down 5.50% during mid-day trading on Friday, hitting $29.02. Domino’s Pizza has a 52 week low of $22.84 and a 52 week high of $42.21. The company has a market cap of $1.680 billion and a P/E ratio of 18.82.
Domino’s Pizza last announced its earnings results on Tuesday, May 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.03. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Domino’s Pizza will post $0.42 earnings per share next quarter.
DPZ has been the subject of a number of other recent research reports. Analysts at Sidoti upgraded shares of Domino’s Pizza from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, May 3rd. Separately, analysts at Bank of America (NYSE: BAC) upgraded shares of Domino’s Pizza from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, April 25th. They now have a $38.00 price target on the stock, up previously from $34.00. Finally, analysts at Miller Tabak upgraded shares of Domino’s Pizza from a “neutral” rating to a “buy” rating in a research note to investors on Monday, April 16th. They now have a $41.00 price target on the stock, up previously from $38.00.
Domino’s Pizza, Inc. (Domino’s) is a pizza delivery company in the United States. The Company operates through a network of 8,999 company-owned and franchise stores, located in all 50 states and in more than 60 international markets.