William Blair Decreases Earnings Estimates for Portillo’s

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

Other analysts also recently issued reports about the company. 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 research report on Wednesday, November 6th. Stephens reaffirmed an “equal weight” rating and set a $13.00 price target on shares of Portillo’s in a research note on Wednesday, November 6th. Finally, UBS Group lowered their price objective on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.57.

Portillo’s Price Performance

Shares of NASDAQ:PTLO opened at $9.20 on Friday. Portillo’s has a 12 month low of $8.38 and a 12 month high of $16.17. The firm has a market capitalization of $682.84 million, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 10.96 and a beta of 1.72. The business’s 50 day simple moving average is $10.55 and its 200-day simple moving average is $11.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Portillo’s in the second quarter valued at approximately $29,000. NBC Securities Inc. increased its position in shares of Portillo’s by 43.5% in the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares in the last quarter. AdvisorShares Investments LLC purchased a new position in shares of Portillo’s in the 2nd quarter valued at $52,000. nVerses Capital LLC acquired a new position in shares of Portillo’s during the 3rd quarter valued at $69,000. Finally, Arizona State Retirement System boosted its position in Portillo’s by 24.9% during the 2nd quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock worth $159,000 after purchasing an additional 3,261 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.