Pizza Pizza Royalty (TSE:PZA) Share Price Breaks Above 50-Day Moving Average Following Analyst Downgrade

Pizza Pizza Royalty Corp. (TSE:PZA)’s stock price crossed above its 50 day moving average during trading on Tuesday after TD Securities upgraded the stock to a hold rating. The stock has a 50 day moving average of C$10.92 and traded as high as C$11.15. Pizza Pizza Royalty shares last traded at C$11.11, with a volume of 161,060 shares trading hands.

Separately, TD cut their target price on shares of Pizza Pizza Royalty from C$14.00 to C$12.00 and set a “hold” rating for the company in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Pizza Pizza Royalty has an average rating of “Hold” and an average target price of C$13.50.

Pizza Pizza Royalty Price Performance

The company has a quick ratio of 3.02, a current ratio of 1.66 and a debt-to-equity ratio of 15.27. The stock has a market cap of C$375.57 million, a price-to-earnings ratio of 12.21 and a beta of 0.64. The company’s 50-day moving average is C$10.92 and its 200-day moving average is C$13.56.

Pizza Pizza Royalty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.0675 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.81 dividend on an annualized basis and a yield of 7.3%. Pizza Pizza Royalty’s dividend payout ratio is currently 100.00%.

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. The business activity of the group primarily functions through Canada.