Portillo’s Inc. to Post Q1 2024 Earnings of $0.06 Per Share, William Blair Forecasts (NASDAQ:PTLO)

Portillo’s Inc. (NASDAQ:PTLO) – Equities research analysts at William Blair decreased their Q1 2024 earnings per share (EPS) estimates for Portillo’s in a note issued to investors on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.06 for the quarter, down from their previous forecast of $0.08. The consensus estimate for Portillo’s’ current full-year earnings is $0.40 per share. William Blair also issued estimates for Portillo’s’ Q2 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.07 EPS and FY2024 earnings at $0.39 EPS.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley reduced their price objective on 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. Stephens initiated coverage on Portillo’s in a research note on Friday, April 12th. They issued an “overweight” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

Portillo’s Trading Down 0.3 %

Shares of Portillo’s stock opened at $12.00 on Friday. 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 has a 52 week low of $11.53 and a 52 week high of $23.99. The stock has a 50 day moving average price of $13.41 and a two-hundred day moving average price of $14.42. The stock has a market capitalization of $875.64 million, a PE ratio of 38.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.85.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. Portillo’s had a return on equity of 4.79% and a net margin of 2.71%. The business had revenue of $187.86 million during the quarter, compared to analysts’ expectations of $184.95 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PTLO. Kornitzer Capital Management Inc. KS lifted its holdings in Portillo’s by 631.5% during the third quarter. Kornitzer Capital Management Inc. KS now owns 614,230 shares of the company’s stock worth $9,453,000 after acquiring an additional 530,257 shares during the period. Granahan Investment Management LLC lifted its holdings in Portillo’s by 33.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after acquiring an additional 334,731 shares during the period. Blair William & Co. IL lifted its holdings in Portillo’s by 10.7% during the third 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 during the period. Rice Hall James & Associates LLC bought a new stake in Portillo’s during the first quarter worth $2,074,000. Finally, Armistice Capital LLC bought a new stake in Portillo’s during the fourth quarter worth $1,481,000. Hedge funds and other 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.