Portillo’s Inc. (NASDAQ:PTLO) to Post Q2 2024 Earnings of $0.14 Per Share, William Blair Forecasts

Portillo’s Inc. (NASDAQ:PTLO) – Equities researchers at William Blair lowered their Q2 2024 earnings estimates for shares of Portillo’s in a research note issued on Tuesday, May 7th. William Blair analyst S. Zackfia now anticipates that the company will earn $0.14 per share for the quarter, down from their prior forecast of $0.15. The consensus estimate for Portillo’s’ current full-year earnings is $0.40 per share. William Blair also issued estimates for Portillo’s’ FY2024 earnings at $0.33 EPS and FY2025 earnings at $0.41 EPS.

Several other equities analysts have also issued reports on the stock. Stephens reissued an “overweight” rating and set a $20.00 price objective on shares of Portillo’s in a report on Tuesday. Morgan Stanley cut their price target on Portillo’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, April 12th. Robert W. Baird decreased their price objective on Portillo’s from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, UBS Group cut 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

Portillo’s Trading Down 2.9 %

NASDAQ PTLO opened at $10.05 on Thursday. The company’s 50-day simple moving average is $12.89 and its two-hundred day simple moving average is $14.20. Portillo’s has a one year low of $10.02 and a one year high of $23.99. The company has a market capitalization of $733.35 million, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.56 and a beta of 1.86. 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 (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Portillo’s had a return on equity of 4.79% and a net margin of 2.71%. The firm had revenue of $165.83 million during the quarter, compared to the consensus estimate of $174.90 million. During the same period in the previous year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in shares of Portillo’s by 1,493.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,593 shares of the company’s stock worth $25,000 after buying an additional 1,493 shares during the period. NBC Securities Inc. acquired a new stake in Portillo’s during the 3rd quarter worth about $35,000. DekaBank Deutsche Girozentrale acquired a new stake in Portillo’s during the 3rd quarter worth about $49,000. Assetmark Inc. grew its stake in Portillo’s by 28.6% during the 4th quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock valued at $51,000 after purchasing an additional 717 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

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.