Portillo’s Inc. (NASDAQ:PTLO) to Post Q3 2024 Earnings of $0.07 Per Share, William Blair Forecasts

Portillo’s Inc. (NASDAQ:PTLO) – William Blair decreased their Q3 2024 earnings per share (EPS) estimates for Portillo’s in a report released on Tuesday, May 7th. William Blair analyst S. Zackfia now anticipates that the company will earn $0.07 per share for the quarter, down from their previous forecast of $0.11. The consensus estimate for Portillo’s’ current full-year earnings is $0.40 per share. William Blair also issued estimates for Portillo’s’ Q4 2024 earnings at $0.06 EPS.

Other equities analysts also recently issued research reports about the company. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Portillo’s in a research report on Tuesday. UBS Group lowered their price objective on Portillo’s from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird reduced their target price on shares of Portillo’s from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.17.

Portillo’s Stock Performance

PTLO opened at $10.05 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 0.62. The stock has a market cap of $733.35 million, a price-to-earnings ratio of 32.42, a PEG ratio of 1.56 and a beta of 1.86. Portillo’s has a 12-month low of $10.02 and a 12-month high of $23.99. The business has a 50 day moving average of $12.89 and a 200-day moving average of $14.20.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $165.83 million for the quarter, compared to the consensus estimate of $174.90 million. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PTLO. Vanguard Group Inc. raised its stake in Portillo’s by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,523,034 shares of the company’s stock worth $69,609,000 after buying an additional 57,451 shares during the last quarter. Blair William & Co. IL raised its position in shares of Portillo’s by 10.7% in the 3rd quarter. Blair William & Co. IL now owns 2,495,995 shares of the company’s stock worth $38,413,000 after acquiring an additional 241,069 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Portillo’s by 22.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock valued at $22,300,000 after purchasing an additional 286,618 shares during the period. Granahan Investment Management LLC boosted its position in shares of Portillo’s by 33.8% during the 4th quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock valued at $21,099,000 after purchasing an additional 334,731 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in Portillo’s by 2.2% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 627,555 shares of the company’s stock worth $9,997,000 after purchasing an additional 13,325 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.