Potbelly Co. (NASDAQ:PBPB) Forecasted to Earn Q2 2023 Earnings of $0.07 Per Share

Potbelly Co. (NASDAQ:PBPB – Get Rating) – Analysts at William Blair cut their Q2 2023 earnings per share estimates for shares of Potbelly in a note issued to investors on Monday, March 13th. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $0.07 per share for the quarter, down from their previous estimate of $0.09. The consensus estimate for Potbelly’s current full-year earnings is $0.29 per share. William Blair also issued estimates for Potbelly’s Q4 2023 earnings at $0.16 EPS and FY2023 earnings at $0.24 EPS.

A number of other brokerages have also recently weighed in on PBPB. TheStreet upgraded shares of Potbelly from a “d+” rating to a “c-” rating in a report on Thursday, November 17th. StockNews.com assumed coverage on shares of Potbelly in a research report on Thursday. They issued a “strong-buy” rating on the stock.

Potbelly Stock Performance

NASDAQ:PBPB opened at $7.93 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.44 and a quick ratio of 0.38. The firm has a 50-day moving average of $7.51 and a two-hundred day moving average of $6.04. The stock has a market cap of $229.34 million, a P/E ratio of 56.64 and a beta of 1.34. Potbelly has a 1-year low of $4.31 and a 1-year high of $8.89.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Heartland Advisors Inc. increased its position in shares of Potbelly by 33.3% during the fourth quarter. Heartland Advisors Inc. now owns 800,000 shares of the company’s stock valued at $4,456,000 after buying an additional 200,000 shares during the period. Nierenberg Investment Management Company Inc. boosted its position in Potbelly by 6.6% in the third quarter. Nierenberg Investment Management Company Inc. now owns 2,689,860 shares of the company’s stock worth $12,185,000 after purchasing an additional 166,589 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Potbelly by 36.8% during the 4th quarter. First Eagle Investment Management LLC now owns 474,048 shares of the company’s stock valued at $2,640,000 after buying an additional 127,579 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Potbelly during the 3rd quarter valued at about $564,000. Finally, Soviero Asset Management LP lifted its position in shares of Potbelly by 5.2% during the 4th quarter. Soviero Asset Management LP now owns 1,420,000 shares of the company’s stock valued at $7,909,000 after buying an additional 70,000 shares in the last quarter. Institutional investors own 51.07% of the company’s stock.

Potbelly Company Profile

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Potbelly Corp. engages in the owning and operating of sandwich restaurants. It offers toasty sandwiches, signature salads, and other fresh menu items. The company was founded in 1977 and is headquartered in Chicago, IL.