Domino's Pizza (NYSE:DPZ) is expected to report a rise in earnings but another decline in revenue when it dishes up its third-quarter results ahead of the opening bell on October 12, 2023.
The Ann Arbor, Michigan-based company is likely to report a 1.2% dip in revenue to $1.05 billion for the September quarter, according to Wall Street consensus estimates.
However, much like 2Q, earnings per share are expected to come in 18% higher at $3.29, based on the forecasts of 11 analysts surveyed by Zacks Investment Research.
Investors will also be keen for more details about the expected benefits of a recent partnership with Uber Eats to serve the growing number of delivery customers.
Analysts at Bank of America Securities are bullish on the stock, reaffirming their positive outlook with a revised price target of $461, from $448.
However, analysts at Barclay’s have maintained an ‘Underweight’ rating on the stock, while raising their price target to $335 from $320.
Ahead of its results, Domino’s shares were up 2.3% at $348.84 in late Monday morning trade.
Contact the author at stephen.gunnion@proactiveinvestors.com