Pizza Pizza Royalty (TSE:PZA) Stock Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• Pizza Pizza Royalty Corp.'s stock price has surpassed its 50-day moving average of C$15.03, reaching as high as C$16.06 during trading, with shares last priced at C$16.00.
• TD Securities has upgraded its target price for Pizza Pizza Royalty from C$13.00 to C$14.00, maintaining a "hold" rating on the stock.
• The company has announced a dividend of $0.0775 per share, set to be paid on August 15th, with a payout ratio of 98.39%.

Pizza Pizza Royalty Corp. (TSE:PZA - Get Free Report)'s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$15.03 and traded as high as C$16.06. Pizza Pizza Royalty shares last traded at C$16.00, with a volume of 47,180 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD Securities raised their target price on Pizza Pizza Royalty from C$13.00 to C$14.00 and gave the stock a "hold" rating in a research report on Tuesday, April 1st.

Pizza Pizza Royalty Trading Up 1.3%

The stock has a 50 day moving average of C$15.03 and a 200-day moving average of C$14.03. The company has a market capitalization of C$394.19 million, a P/E ratio of 16.93 and a beta of 0.91. The company has a current ratio of 0.19, a quick ratio of 3.03 and a debt-to-equity ratio of 15.72.

Pizza Pizza Royalty Announces Dividend

The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.0775 dividend. Pizza Pizza Royalty's dividend payout ratio is presently 98.39%.

Pizza Pizza Royalty Company Profile

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.

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