Domino's Dishes Out Revenue Beat Amid Strong Demand

The company has bee offering deep discounts and promotions as inflation hits consumers' wallets

Digital Content Manager
Oct 13, 2022 at 10:05 AM
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The shares of Domino's Pizza Inc (NYSE:DPZ) are up 9.4% at $330 this morning following the company's third-quarter earnings report. While Domino's Pizza's earnings of $2.79 per share missed analysts' expectations, the company posted a revenue beat of $1.07 billion, noting its deep discounts and promotions helped boosted demand. It also reiterated its full-year food cost inflation forecast, suggesting some of the headwinds rising food costs have caused might be easing soon. 

The stock hit a fresh two-year low during yesterday's session. In fact, DPZ is set to snap a five-day losing streak sparked by a rejection at its 20-day moving average, should this morning's gains hold. The security has shed 46.5% this year. 

While the brokerage bunch has been silent this morning, UBS recommended buying the dip on DPZ earlier this month. Should today's earnings report act as the pivot UBS is counting on, there's plenty of room for a round of analyst upgrades. Of the 24 analysts in coverage, 17 call the equity a "hold" or worse. 

Meanwhile, short-term options traders have rarely been more call-biased. This is per Domino's Pizza stock's Schaeffer' put/call open interest ratio (SOIR) of 0.66 which sits higher than just 1% of readings from the past year. 

 

 

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