William Blair Weighs in on Portillo’s Inc.’s Q2 2024 Earnings (NASDAQ:PTLO)

Portillo’s Inc. (NASDAQ:PTLO) – Equities researchers at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for Portillo’s in a research report issued on Tuesday, May 7th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.15. The consensus estimate for Portillo’s’ current full-year earnings is $0.40 per share. William Blair also issued estimates for Portillo’s’ FY2024 earnings at $0.33 EPS and FY2025 earnings at $0.41 EPS.

A number of other equities research analysts have also issued reports on PTLO. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Portillo’s in a research note on Tuesday. UBS Group reduced 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 decreased their price objective on Portillo’s from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley cut their target price 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 data from MarketBeat, Portillo’s has an average rating of “Moderate Buy” and a consensus target price of $18.17.

Portillo’s Stock Down 2.9 %

PTLO stock opened at $10.05 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.40 and a quick ratio of 0.32. The company’s 50 day simple moving average is $12.89 and its 200-day simple moving average is $14.20. Portillo’s has a 12 month low of $10.02 and a 12 month high of $23.99. The firm has a market capitalization of $733.35 million, a PE ratio of 32.42, a P/E/G ratio of 1.56 and a beta of 1.86.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, May 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $165.83 million during 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 last year, the firm posted $0.05 EPS.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in shares of Portillo’s by 1,493.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,593 shares of the company’s stock valued at $25,000 after purchasing an additional 1,493 shares during the period. NBC Securities Inc. acquired a new stake in Portillo’s in the 3rd quarter worth about $35,000. DekaBank Deutsche Girozentrale acquired a new stake in Portillo’s in the 3rd quarter worth about $49,000. Assetmark Inc. grew its holdings in Portillo’s by 28.6% in the 4th quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock valued at $51,000 after buying an additional 717 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Portillo’s by 241.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock valued at $54,000 after acquiring an additional 2,694 shares during the last quarter. 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.