William Blair Research Analysts Decrease Earnings Estimates for Portillo’s Inc. (NASDAQ:PTLO)

Portillo’s Inc. (NASDAQ:PTLO) – Equities researchers at William Blair lowered their Q1 2024 earnings estimates for shares of Portillo’s in a research note issued to 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) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The company had revenue of $187.86 million for the quarter, compared to analysts’ expectations of $184.95 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Portillo’s’s revenue was up 24.5% on a year-over-year basis.

Other research analysts have also issued reports about the stock. Stephens began coverage on shares of Portillo’s in a research report on Friday, April 12th. They set an “overweight” rating and a $20.00 price target for the company. Morgan Stanley cut their target price on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Portillo’s currently has an average rating of “Moderate Buy” and an average target price of $22.43.

Portillo’s Trading Up 0.2 %

Shares of PTLO stock opened at $12.03 on Friday. The company’s fifty day simple moving average is $13.37 and its two-hundred day simple moving average is $14.38. The stock has a market capitalization of $877.89 million, a price-to-earnings ratio of 38.81, a PEG ratio of 1.57 and a beta of 1.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.40 and a quick ratio of 0.32. Portillo’s has a 1 year low of $11.53 and a 1 year high of $23.99.

Hedge Funds Weigh In On Portillo’s

A number of institutional investors have recently bought and sold shares of PTLO. Kornitzer Capital Management Inc. KS grew its holdings in Portillo’s by 631.5% in the third quarter. Kornitzer Capital Management Inc. KS now owns 614,230 shares of the company’s stock worth $9,453,000 after purchasing an additional 530,257 shares during the period. Granahan Investment Management LLC grew its holdings in shares of Portillo’s by 33.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock valued at $21,099,000 after buying an additional 334,731 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Portillo’s by 10.7% during the third quarter. Blair William & Co. IL now owns 2,495,995 shares of the company’s stock valued at $38,413,000 after buying an additional 241,069 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Portillo’s during the first quarter valued at approximately $2,074,000. Finally, Armistice Capital LLC purchased a new stake in shares of Portillo’s during the fourth quarter valued at approximately $1,481,000. 98.34% of the stock is owned by institutional investors.

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.