Brokers Set Expectations for Potbelly Co.’s Q2 2024 Earnings (NASDAQ:PBPB)

Potbelly Co. (NASDAQ:PBPB) – Equities researchers at William Blair reduced their Q2 2024 earnings estimates for shares of Potbelly in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the company will earn $0.05 per share for the quarter, down from their prior estimate of $0.06. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Potbelly’s current full-year earnings is $0.19 per share. William Blair also issued estimates for Potbelly’s FY2024 earnings at $0.18 EPS and FY2025 earnings at $0.24 EPS.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $125.75 million during the quarter, compared to analysts’ expectations of $125.80 million. Potbelly had a net margin of 1.04% and a return on equity of 50.06%.

PBPB has been the topic of a number of other reports. StockNews.com lowered shares of Potbelly from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Benchmark raised shares of Potbelly from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, January 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.67.

Potbelly Trading Down 1.2 %

NASDAQ:PBPB opened at $10.63 on Friday. Potbelly has a 12 month low of $7.12 and a 12 month high of $14.36. The stock has a market capitalization of $315.50 million, a price-to-earnings ratio of 66.44 and a beta of 1.32. The firm has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $10.89. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.36.

Institutional Trading of Potbelly

Institutional investors have recently made changes to their positions in the stock. AJOVista LLC bought a new stake in Potbelly during the 4th quarter worth approximately $35,000. Allspring Global Investments Holdings LLC bought a new position in Potbelly in the third quarter worth about $37,000. Tower Research Capital LLC TRC increased its holdings in shares of Potbelly by 464.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,229 shares of the company’s stock valued at $65,000 after acquiring an additional 5,126 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Potbelly by 722.7% during the fourth quarter. New York State Common Retirement Fund now owns 9,436 shares of the company’s stock valued at $98,000 after acquiring an additional 8,289 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Potbelly by 17.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 56,722 shares of the company’s stock valued at $591,000 after acquiring an additional 8,586 shares in the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.