Papa Johns shares fall on sales, same-store sales misses

(Reuters) - Shares of Papa John's International Inc (PZZA.O) fell as much as 10 percent on Wednesday after the pizza chain posted fourth-quarter sales below analysts' estimates.

"It is an over-reaction to the same-store sales miss. They missed revenue and same-store sales estimates in the fourth quarter," Keybanc Capital Markets analyst Brad Ludington said.

Louisville, Kentucky-based Papa John's shares were down 7 percent at $37.25 on Wednesday on the Nasdaq. They had fallen to $36.31 earlier in the day.

The shares had risen 50 percent since August to touch a life-high of $40.82 on Tuesday, before the company reported quarterly revenue of $306.2 million.

Analysts on average were expecting Papa John's, which competes with Yum Brands Inc's (YUM.N) Pizza Hut and Domino's Pizza Inc (DPZ.N), to post revenue of $311.4 million, according to Thomson Reuters I/B/E/S.

"The shares had a very strong run in the last couple of months," Ludington said. "I think there is concern that top line trends have softened and there is lack of visibility of what top line trends will do in coming quarters."

The company, however, beat earnings expectations for the sixth straight quarter.

(Reporting by Chris Jonathan Peters in Bangalore; Editing by Don Sebastian)