Portillo's (NASDAQ:PTLO) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Portillo's (NASDAQ:PTLO - Get Free Report) issued its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03, Briefing.com reports. Portillo's had a return on equity of 4.79% and a net margin of 2.71%. The company had revenue of $165.83 million for the quarter, compared to the consensus estimate of $174.90 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis.

Portillo's Stock Down 2.5 %

Shares of NASDAQ PTLO traded down $0.26 during mid-day trading on Wednesday, reaching $10.35. 2,441,561 shares of the company traded hands, compared to its average volume of 968,272. The company's fifty day moving average is $13.08 and its two-hundred day moving average is $14.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.32 and a current ratio of 0.40. Portillo's has a fifty-two week low of $10.26 and a fifty-two week high of $23.99. The stock has a market cap of $755.24 million, a PE ratio of 33.32, a price-to-earnings-growth ratio of 1.56 and a beta of 1.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Portillo's from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday. UBS Group cut their price objective on Portillo's from $18.00 to $13.00 and set a "neutral" rating for the company in a report on Wednesday. Stephens restated an "overweight" rating and issued a $20.00 target price on shares of Portillo's in a research note on Tuesday. Finally, Morgan Stanley cut their price target on Portillo's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.17.

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.