Portillo's Inc. to Post Q3 2024 Earnings of $0.07 Per Share, William Blair Forecasts (NASDAQ:PTLO)

Portillo's Inc. (NASDAQ:PTLO - Free Report) - Equities research analysts at William Blair dropped their Q3 2024 earnings estimates for Portillo's in a research report issued on Tuesday, May 7th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.11. The consensus estimate for Portillo's' current full-year earnings is $0.40 per share. William Blair also issued estimates for Portillo's' Q4 2024 earnings at $0.06 EPS.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $165.83 million for the quarter, compared to analysts' expectations of $174.90 million. Portillo's had a net margin of 2.71% and a return on equity of 4.79%. Portillo's's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share.

Several other research firms have also issued reports on PTLO. UBS Group decreased their target price on Portillo's from $18.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday. Stephens reissued an "overweight" rating and issued a $20.00 price objective on shares of Portillo's in a research note on Tuesday. Morgan Stanley cut their target price on shares of 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. Finally, Robert W. Baird reduced their target price on shares of Portillo's from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.17.

Portillo's Trading Up 0.6 %

NASDAQ:PTLO traded up $0.06 during trading hours on Friday, reaching $10.11. 2,638,043 shares of the stock were exchanged, compared to its average volume of 994,605. Portillo's has a twelve month low of $9.93 and a twelve month high of $23.99. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $12.80 and a two-hundred day moving average of $14.16. The company has a market capitalization of $737.73 million, a price-to-earnings ratio of 32.61, a PEG ratio of 1.59 and a beta of 1.86.

Institutional Investors Weigh In On Portillo's

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Portillo's by 1,493.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,593 shares of the company's stock valued at $25,000 after buying an additional 1,493 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Portillo's in the 3rd quarter valued at about $35,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Portillo's during the 3rd quarter worth about $49,000. Assetmark Inc. lifted its stake in Portillo's by 28.6% during the fourth quarter. Assetmark Inc. now owns 3,222 shares of the company's stock worth $51,000 after purchasing an additional 717 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Portillo's by 241.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company's stock valued at $54,000 after purchasing an additional 2,694 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

About Portillo's

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.