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

Portillo’s Inc. (NASDAQ:PTLO) – Equities researchers at William Blair reduced their Q2 2024 EPS estimates for Portillo’s in a research report issued on Tuesday, June 4th. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.14. The consensus estimate for Portillo’s’ current full-year earnings is $0.33 per share.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, May 7th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Portillo’s had a net margin of 3.41% and a return on equity of 5.23%. The company had revenue of $165.83 million during the quarter, compared to analysts’ expectations of $174.90 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.

A number of other brokerages also recently weighed in on PTLO. Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of Portillo’s in a research report on Tuesday, May 7th. UBS Group cut their target price on shares of Portillo’s from $18.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Robert W. Baird decreased their price target on shares of Portillo’s from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Finally, Morgan Stanley dropped their price objective on Portillo’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.17.

Portillo’s Trading Down 0.5 %

NASDAQ:PTLO opened at $10.02 on Thursday. The firm has a market capitalization of $731.16 million, a price-to-earnings ratio of 25.05, a PEG ratio of 5.16 and a beta of 1.75. Portillo’s has a 1-year low of $9.55 and a 1-year high of $23.99. The business’s 50-day moving average price is $11.44 and its two-hundred day moving average price is $13.45. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.62.

Hedge Funds Weigh In On Portillo’s

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Portillo’s by 14.9% during the 1st quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company’s stock valued at $76,604,000 after purchasing an additional 700,583 shares during the last quarter. Blair William & Co. IL increased its position in Portillo’s by 10.7% during the 3rd quarter. Blair William & Co. IL now owns 2,495,995 shares of the company’s stock valued at $38,413,000 after purchasing an additional 241,069 shares during the period. Principal Financial Group Inc. raised its holdings in Portillo’s by 22.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock worth $22,300,000 after purchasing an additional 286,618 shares during the last quarter. Granahan Investment Management LLC raised its holdings in Portillo’s by 33.8% during the 4th quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after purchasing an additional 334,731 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of Portillo’s by 2.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 627,555 shares of the company’s stock valued at $9,997,000 after purchasing an additional 13,325 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

About Portillo’s

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.