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Papa John's Inks Restaurant Development Deal in Columbia
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Leading pizza delivery restaurant Papa John’s International, Inc. (PZZA - Free Report) continues its international expansion with the signing of a restaurant development agreement with Grupo Nutresa in Colombia.
Per the agreement, Grupo Nutresa, the parent company of PJ Col S.A.S., will inaugurate 28 additional units over a period of eight years in Colombian cities of Medellin, Cartagena and Barranquilla. Currently, PJ Col operates 29 Papa John’s restaurants in Colombia.
With the opening of each Papa John’s store, approximately 15 to 20 jobs will be created in Colombia.
Notably, large scale international expansion has been driving Papa John’s operations of late. The company has more than 1500 international restaurants, with over 350 restaurants in 16 Latin American countries. Further, it is planning to expand in Brazil, Caribbean, Honduras, Uruguay and Bahamas.
Recently, the company revealed plans to expand in Mexico and Egypt as well. Moreover, it has inked restaurant development agreements in Russia, Spain, Netherlands, opened stores in northeastern France and debuted in Israel, all in the first half of 2016. The company intends to open its 5000th restaurant globally by the end of 2016.
International revenues were up 7.2% year over year in the third quarter of 2016. However, Papa John’s international presence makes it highly susceptible to fluctuations in exchange rates.
Nonetheless, Papa John’s is well poised for future earnings growth with the current growth estimate of 19.9% for 2016. Moreover, Papa John’s shares have gained 54% year to date, outperforming 0.5% growth registered by the Zacks categorized Retail-Food & Restaurants industry.
Further, the stock has actually seen estimates rise in the past 60 days for the current fiscal year by about 2.4%. Due to this upward estimate revisions, Papa John currently carries a Zacks Rank #2 (Buy) which further underscores the potential for outperformance by this company.
Other Key Picks
Other favorably placed stocks in this sector include Domino's Pizza, Inc. (DPZ - Free Report) , McDonald's Corp. (MCD - Free Report) and The Wendy's Company (WEN - Free Report) .
For full-year 2016, Domino’s EPS is expected to improve 23.1%.
McDonald's surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters, with an average beat of 6.16%.
Wendy’s earnings are expected to grow 23.6% in for 2016.
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Papa John's Inks Restaurant Development Deal in Columbia
Leading pizza delivery restaurant Papa John’s International, Inc. (PZZA - Free Report) continues its international expansion with the signing of a restaurant development agreement with Grupo Nutresa in Colombia.
Per the agreement, Grupo Nutresa, the parent company of PJ Col S.A.S., will inaugurate 28 additional units over a period of eight years in Colombian cities of Medellin, Cartagena and Barranquilla. Currently, PJ Col operates 29 Papa John’s restaurants in Colombia.
With the opening of each Papa John’s store, approximately 15 to 20 jobs will be created in Colombia.
Notably, large scale international expansion has been driving Papa John’s operations of late. The company has more than 1500 international restaurants, with over 350 restaurants in 16 Latin American countries. Further, it is planning to expand in Brazil, Caribbean, Honduras, Uruguay and Bahamas.
Recently, the company revealed plans to expand in Mexico and Egypt as well. Moreover, it has inked restaurant development agreements in Russia, Spain, Netherlands, opened stores in northeastern France and debuted in Israel, all in the first half of 2016. The company intends to open its 5000th restaurant globally by the end of 2016.
International revenues were up 7.2% year over year in the third quarter of 2016. However, Papa John’s international presence makes it highly susceptible to fluctuations in exchange rates.
Nonetheless, Papa John’s is well poised for future earnings growth with the current growth estimate of 19.9% for 2016. Moreover, Papa John’s shares have gained 54% year to date, outperforming 0.5% growth registered by the Zacks categorized Retail-Food & Restaurants industry.
Further, the stock has actually seen estimates rise in the past 60 days for the current fiscal year by about 2.4%. Due to this upward estimate revisions, Papa John currently carries a Zacks Rank #2 (Buy) which further underscores the potential for outperformance by this company.
Other Key Picks
Other favorably placed stocks in this sector include Domino's Pizza, Inc. (DPZ - Free Report) , McDonald's Corp. (MCD - Free Report) and The Wendy's Company (WEN - Free Report) .
All three companies carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For full-year 2016, Domino’s EPS is expected to improve 23.1%.
McDonald's surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters, with an average beat of 6.16%.
Wendy’s earnings are expected to grow 23.6% in for 2016.
Confidential From Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>