Equities Analysts Set Expectations for Potbelly Co.’s Q2 2024 Earnings (NASDAQ:PBPB)

Potbelly Co. (NASDAQ:PBPB) – Analysts at William Blair decreased their Q2 2024 EPS estimates for Potbelly in a research note issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.05 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 $0.18 per share. William Blair also issued estimates for Potbelly’s FY2024 earnings at $0.18 EPS and FY2025 earnings at $0.24 EPS.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $125.75 million for the quarter, compared to analyst estimates of $125.80 million. Potbelly had a return on equity of 50.06% and a net margin of 1.04%.

Several other research firms also recently commented on PBPB. Benchmark raised shares of Potbelly from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, January 12th. StockNews.com downgraded 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 issued a buy rating to the stock. According to MarketBeat.com, Potbelly presently has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Potbelly Stock Performance

PBPB opened at $10.63 on Friday. The company has a market cap of $315.50 million, a price-to-earnings ratio of 66.44 and a beta of 1.32. The company’s fifty day moving average price is $11.88 and its two-hundred day moving average price is $10.91. Potbelly has a 1-year low of $7.12 and a 1-year high of $14.36. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.36.

Hedge Funds Weigh In On Potbelly

Several institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC grew its holdings in 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 purchasing an additional 76,748 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Potbelly by 28.9% in the first quarter. Los Angeles Capital Management LLC now owns 243,662 shares of the company’s stock valued at $2,951,000 after purchasing an additional 54,667 shares during the period. Millrace Asset Group Inc. purchased a new stake in shares of Potbelly during the 4th quarter valued at approximately $1,391,000. Hodges Capital Management Inc. bought a new position in shares of Potbelly in the first quarter worth $1,411,000. Finally, Ancora Advisors LLC bought a new stake in shares of Potbelly during the 3rd quarter valued at $775,000. 72.60% of the stock is owned by institutional investors.

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.