The company reported $0.47 EPS for the quarter. Adjusted earnings per diluted share was 47 cents, compared to 44 cents in 2015. Both earnings per diluted share and adjusted earnings per diluted share had a year over year growth of 6.8%. Total system-wide sales increased 6.5 percent in the second quarter ended July 10 as a result of net unit growth and same-store sales performance, according to the company.
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Total domestic same-store sales were flat, compared to a 7.9% increase in the second quarter of 2015.
As a result, Popeyes downgraded its same-store sales estimate for the year, projecting growth of 1 percent to 2 percent, a decrease from previous guidance of 2 percent to 3 percent. The firm’s revenue for the quarter was up 3.9% compared to the same quarter past year. Company-operated restaurant operating profit was $4.7 million, or 18.7% of sales, compared to $4.9 million, or 19.5% of sales in the second quarter of 2015.
The Popeyes system opened 43 restaurants, which included 23 domestic and 20 global restaurants. Net restaurant openings were 36 compared to 31 in the same period past year. Maxim Group cut their price target on shares of Popeyes Louisiana Kitchen from $66.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 26th.
Over the prior three fiscal years (12 quarters), when shares of PLKI rose in the extended-hours session in reaction to its earnings announcement, history shows that 60.0% of the time (3 events) the stock posted additional gains in the following regular session by an average of 6.0%. They now have a United States dollars 59 price target on the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.34. Now the stock price is moving -7.17% off from the highest level of twelve months and +19.08% above from twelve months low. The stock’s market capitalization is 1.28B, it has a 52-week low of 49.11 and a 52-week high of 63.00. Popeyes Louisiana Kitchen Inc are listed in the Consumer Services sector within NASDAQ.
04/19/2016 – Cowen began new coverage on Popeyes Louisiana Kitchen Inc giving the company a “market perform” rating. The firm has a 50 day moving average of $56.28 and a 200 day moving average of $55.47. The company’s beta value is at 0.35. Market capitalisation for NASDAQ:PLKI is $1,190,067,987.00 Dollars.
01/21/2016 – Popeyes Louisiana Kitchen Inc had its “buy” rating reiterated by analysts at Jefferies. Its quick ratio for most recent quarter is 1.30 along with current ratio for most recent quarter of 1.30.
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Popeyes Louisiana Kitchen Inc.
