Brokers Set Expectations for Portillo’s FY2024 Earnings

Portillo’s Inc. (NASDAQ:PTLO) – Analysts at William Blair reduced their FY2024 earnings estimates for shares of Portillo’s in a note issued to investors on Wednesday, January 8th. William Blair analyst S. Zackfia now expects that the company will earn $0.30 per share for the year, down from their previous estimate of $0.31. The consensus estimate for Portillo’s’ current full-year earnings is $0.30 per share.

Several other analysts also recently commented on the stock. UBS Group decreased their target price on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday. Stifel Nicolaus downgraded Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a report on Wednesday, November 6th. Finally, Stephens restated an “equal weight” rating and set a $13.00 target price on shares of Portillo’s in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.57.

Portillo’s Stock Performance

Shares of PTLO stock opened at $9.20 on Friday. Portillo’s has a 1-year low of $8.38 and a 1-year high of $16.17. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $682.84 million, a price-to-earnings ratio of 21.90, a P/E/G ratio of 10.96 and a beta of 1.72. The stock’s fifty day simple moving average is $10.55 and its 200-day simple moving average is $11.14.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share.

Institutional Trading of Portillo’s

A number of large investors have recently bought and sold shares of PTLO. Principal Financial Group Inc. boosted its position in shares of Portillo’s by 10.9% during the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock worth $24,086,000 after buying an additional 175,999 shares during the period. Engaged Capital LLC grew its stake in shares of Portillo’s by 38.7% during the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after acquiring an additional 770,443 shares in the last quarter. Barclays PLC raised its holdings in shares of Portillo’s by 55.6% in the third quarter. Barclays PLC now owns 117,430 shares of the company’s stock valued at $1,581,000 after purchasing an additional 41,944 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in Portillo’s during the third quarter worth $12,337,000. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Portillo’s by 51.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 207,945 shares of the company’s stock worth $2,801,000 after buying an additional 70,409 shares during the last quarter. 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.