Australia's Domino's Pizza falls as Macquarie lowers PT

Dominos Pizza Enterprises

15/04/2024 02:39

** Shares of Domino's Pizza Enterprises  DMP.AX  fall as
much as 3.5% to A$38.75, their lowest since Aug. 2019
        ** Stock last down 3.1%, with volumes slightly above
30-day avg of 325,547 shares
  
    ** Analysts at Macquarie see softer store rollout and impact
on margins for co's Asia business
        ** Brokerage lowers PT by 2.4% to A$41
  
    ** Lowers earnings estimates by 3%,4% and 5% respectively
for FY24-FY26
    ** Franchisee profitability remains well below FY21 levels,
with management noting that current levels are unlikely to drive
store growth - Macquarie
    ** Adds co's organic store count growth remains challenged
with external and structural challenges impacting key regions
    ** Stock has fallen 31.9% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))