Analysts Set Expectations for Portillo’s FY2024 Earnings

Portillo’s Inc. (NASDAQ:PTLO) – Analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for Portillo’s in a note issued to investors on Monday, January 13th. William Blair analyst S. Zackfia now expects that the company will earn $0.38 per share for the year, up from their prior forecast of $0.30. The consensus estimate for Portillo’s’ current full-year earnings is $0.30 per share. William Blair also issued estimates for Portillo’s’ Q4 2024 earnings at $0.08 EPS.

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

Other analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a report on Wednesday, November 6th. Stephens reaffirmed an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a report on Wednesday, November 6th. Finally, UBS Group reduced their price objective on Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Portillo’s presently has a consensus rating of “Hold” and a consensus target price of $13.57.

Portillo’s Price Performance

Shares of Portillo’s stock opened at $12.02 on Thursday. Portillo’s has a 52 week low of $8.38 and a 52 week high of $16.17. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $10.34 and its two-hundred day moving average price is $11.18. The stock has a market cap of $892.12 million, a PE ratio of 28.62, a price-to-earnings-growth ratio of 10.75 and a beta of 1.72.

Hedge Funds Weigh In On Portillo’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Portillo’s by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock valued at $24,086,000 after purchasing an additional 175,999 shares in the last quarter. Engaged Capital LLC raised its position in Portillo’s by 38.7% during the second quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock valued at $26,832,000 after buying an additional 770,443 shares during the period. Barclays PLC lifted its stake in Portillo’s by 55.6% in the 3rd quarter. Barclays PLC now owns 117,430 shares of the company’s stock worth $1,581,000 after acquiring an additional 41,944 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in Portillo’s in the 3rd quarter worth about $12,337,000. Finally, Rice Hall James & Associates LLC boosted its position in Portillo’s by 51.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 207,945 shares of the company’s stock worth $2,801,000 after acquiring an additional 70,409 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.