Pizza Pizza Royalty (TSE:PZA) Shares Pass Below 50 Day Moving Average - Here's Why

Key Points

• Pizza Pizza Royalty Corp. (TSE:PZA) shares dropped below their fifty-day moving average of C$15.89, closing at C$15.64.
• Analysts at TD Securities raised their price target for Pizza Pizza Royalty from C$14.00 to C$17.00, maintaining a "hold" rating.
• The company announced a dividend of $0.0775 to be paid on October 15th, representing a yield of 605.0% with a dividend payout ratio of 98.94%.

Pizza Pizza Royalty Corp. (TSE:PZA - Get Free Report)'s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$15.89 and traded as low as C$15.46. Pizza Pizza Royalty shares last traded at C$15.64, with a volume of 30,769 shares traded.

Analysts Set New Price Targets

Separately, TD Securities upped their price objective on shares of Pizza Pizza Royalty from C$14.00 to C$17.00 and gave the company a "hold" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$17.00.

Pizza Pizza Royalty Stock Up 0.6%

The company's fifty day simple moving average is C$15.89 and its 200 day simple moving average is C$15.01. The company has a current ratio of 0.19, a quick ratio of 3.03 and a debt-to-equity ratio of 15.72. The firm has a market capitalization of C$521.66 million, a P/E ratio of 16.64 and a beta of 0.34.

Pizza Pizza Royalty Dividend Announcement

The business also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a $0.0775 dividend. The ex-dividend date is Monday, September 29th. This represents a yield of 605.0%. Pizza Pizza Royalty's dividend payout ratio (DPR) is 98.94%.

About Pizza Pizza Royalty

Pizza Pizza Royalty Corp., through its subsidiary, Pizza Pizza Royalty Limited Partnership, owns and franchises quick-service restaurants under the Pizza Pizza and Pizza73 brands. It offers a flavorful, varied and high-quality menu to pizza-lovers of all ages and tastes and it is composed of more than 600 traditional and non-traditional restaurants coast to coast, employing over 3,000 Canadians.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.