Portillo's Inc. (NASDAQ:PTLO) to Post Q1 2024 Earnings of $0.06 Per Share, William Blair Forecasts

Portillo's Inc. (NASDAQ:PTLO - Free Report) - Research analysts at William Blair cut their Q1 2024 earnings per share estimates for Portillo's in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.06 for the quarter, down from their previous forecast of $0.08. The consensus estimate for Portillo's' current full-year earnings is $0.40 per share. William Blair also issued estimates for Portillo's' Q2 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.39 EPS.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The company had revenue of $187.86 million for the quarter, compared to the consensus estimate of $184.95 million. Portillo's had a return on equity of 4.79% and a net margin of 2.71%. The firm's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $0.08 EPS.

PTLO has been the topic of several other research reports. Morgan Stanley decreased their target price on Portillo's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Friday, April 12th. Stephens began coverage on Portillo's in a research note on Friday, April 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.43.

Portillo's Price Performance

PTLO traded up $0.03 on Friday, hitting $12.03. 811,921 shares of the company's stock traded hands, compared to its average volume of 891,265. The company's 50 day simple moving average is $13.37 and its 200-day simple moving average is $14.39. The firm has a market cap of $877.83 million, a price-to-earnings ratio of 38.81, a P/E/G ratio of 1.57 and a beta of 1.85. Portillo's has a one year low of $11.53 and a one year high of $23.99. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 0.62.

Institutional Trading of Portillo's

A number of large investors have recently added to or reduced their stakes in PTLO. Aaron Wealth Advisors LLC bought a new stake in Portillo's in the 3rd quarter worth approximately $154,000. CenterStar Asset Management LLC boosted its holdings in shares of Portillo's by 164.4% in the 3rd quarter. CenterStar Asset Management LLC now owns 27,500 shares of the company's stock worth $423,000 after purchasing an additional 17,100 shares during the period. Raymond James & Associates boosted its holdings in shares of Portillo's by 13.6% in the 3rd quarter. Raymond James & Associates now owns 12,291 shares of the company's stock worth $189,000 after purchasing an additional 1,475 shares during the period. Goodwin Daniel L purchased a new position in shares of Portillo's in the 3rd quarter worth approximately $690,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Portillo's by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 163,609 shares of the company's stock worth $2,518,000 after purchasing an additional 17,744 shares during the period. Institutional investors own 98.34% of the company's stock.

Portillo's Company Profile

Portillo's Inc owns and operates fast casual restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shake. It offers its products through its website, application, and certain third-party platforms.