William Blair Comments on Potbelly Co.'s Q2 2024 Earnings (NASDAQ:PBPB)

Potbelly Co. (NASDAQ:PBPB - Free Report) - Equities research analysts at William Blair cut their Q2 2024 EPS estimates for Potbelly in a note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.05 per share for the quarter, down from their prior estimate of $0.06. William Blair has a "Market Perform" rating on the stock. The consensus estimate for Potbelly's current full-year earnings is $0.19 per share. William Blair also issued estimates for Potbelly's FY2024 earnings at $0.18 EPS and FY2025 earnings at $0.24 EPS.

Other research analysts also recently issued reports about the stock. Benchmark upgraded shares of Potbelly from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research note on Friday, January 12th. StockNews.com downgraded shares of Potbelly from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Potbelly has an average rating of "Moderate Buy" and an average price target of $13.67.

Potbelly Stock Down 1.2 %

Shares of NASDAQ:PBPB traded down $0.13 during mid-day trading on Friday, hitting $10.63. 231,878 shares of the company traded hands, compared to its average volume of 268,479. The firm's 50 day simple moving average is $11.92 and its 200 day simple moving average is $10.89. The firm has a market cap of $315.50 million, a P/E ratio of 66.44 and a beta of 1.32. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.70 and a current ratio of 0.75. Potbelly has a 52-week low of $7.12 and a 52-week high of $14.36.

Potbelly (NASDAQ:PBPB - Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. Potbelly had a return on equity of 50.06% and a net margin of 1.04%. The business had revenue of $125.75 million during the quarter, compared to analysts' expectations of $125.80 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBPB. First Eagle Investment Management LLC grew its holdings in shares of Potbelly by 10.4% during the fourth quarter. First Eagle Investment Management LLC now owns 814,728 shares of the company's stock valued at $8,489,000 after buying an additional 76,748 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Potbelly by 28.9% during the first quarter. Los Angeles Capital Management LLC now owns 243,662 shares of the company's stock worth $2,951,000 after buying an additional 54,667 shares during the last quarter. Millrace Asset Group Inc. bought a new position in Potbelly during the fourth quarter valued at about $1,391,000. Hodges Capital Management Inc. acquired a new stake in shares of Potbelly in the first quarter worth about $1,411,000. Finally, Ancora Advisors LLC acquired a new stake in Potbelly in the 3rd quarter worth approximately $775,000. Institutional investors and hedge funds own 72.60% of the company's stock.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.