Domino’s Pizza Shares Fall 7.7% on Results Day as US Sales Disappoint
Domino's Pizza shares fell 7.68% today to $287.01 by 2:30pm in London, on the day of its third-quarter results, leaving the stock close to its 52-week low.
Domino’s Pizza (NYSE: DPZ), the pizza chain, fell 7.68% today to $287.01 by 2:30pm in London. The company reported third-quarter results today, and the fall ranked second among moves of 5% or more across the S&P 500 and Nasdaq 100 so far today.
The shares are down 29.9% so far this year. They stand 33.4% below their 52-week high and 2% above their 52-week low, near the bottom of their range for the year.
Domino’s Pizza daily closes from 11 September to yesterday, plus today’s session so far to 2:30pm in London.
How unusual this is
For Domino’s, the fall comes with the shares already weak this year and sitting near the bottom of their 52-week range.
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Domino’s Pizza daily share price changes over six months, with today’s move so far highlighted.
What was behind it
The shares fell as US same-store sales, the sales at restaurants open for at least a year, disappointed, even though the rest of the quarter beat forecasts. Earnings of $4.60 a share beat analysts’ average estimate of $4.33, with revenue of $1.19bn against $1.17bn expected. Revenue rose 3.4%, mainly on supply chain sales and global franchise royalties.
Domino’s also declared a quarterly dividend of $1.99 a share, unchanged. It is payable on 30 December to holders of record on 15 December, which is also the ex-dividend date.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
