What is William Blair's Forecast for Portillo's Q3 Earnings?

Portillo's Inc. (NASDAQ:PTLO - Free Report) - Research analysts at William Blair reduced their Q3 2024 earnings per share (EPS) estimates for Portillo's in a report issued on Wednesday, October 23rd. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $0.08 per share for the quarter, down from their prior forecast of $0.09. The consensus estimate for Portillo's' current full-year earnings is $0.27 per share. William Blair also issued estimates for Portillo's' Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.30 EPS and FY2025 earnings at $0.36 EPS.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus cut their target price on shares of Portillo's from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, July 12th. Morgan Stanley lowered their price objective on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 16th. Bank of America reduced their price target on shares of Portillo's from $20.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Finally, Stephens downgraded shares of Portillo's from an "overweight" rating to an "equal weight" rating and set a $13.00 price objective on the stock. in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Portillo's has a consensus rating of "Moderate Buy" and an average price target of $13.86.

Portillo's Stock Performance

Shares of PTLO stock traded up $0.43 during trading on Monday, reaching $13.32. The company had a trading volume of 1,093,349 shares, compared to its average volume of 1,035,428. The firm's 50 day simple moving average is $12.57 and its two-hundred day simple moving average is $11.20. Portillo's has a one year low of $8.66 and a one year high of $16.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.30. The company has a market capitalization of $971.96 million, a PE ratio of 35.00, a PEG ratio of 16.76 and a beta of 1.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). Portillo's had a return on equity of 5.08% and a net margin of 3.30%. The business had revenue of $181.86 million during the quarter, compared to the consensus estimate of $184.44 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis.

Hedge Funds Weigh In On Portillo's

Several institutional investors have recently modified their holdings of PTLO. Wakefield Asset Management LLLP bought a new position in shares of Portillo's in the 1st quarter valued at about $942,000. Mesirow Institutional Investment Management Inc. acquired a new stake in Portillo's during the 1st quarter worth approximately $409,000. Swiss National Bank boosted its stake in Portillo's by 17.4% in the 1st quarter. Swiss National Bank now owns 108,400 shares of the company's stock valued at $1,537,000 after purchasing an additional 16,100 shares during the period. Entropy Technologies LP bought a new position in Portillo's during the 1st quarter worth $188,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Portillo's by 14.9% during the first quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company's stock worth $76,604,000 after buying an additional 700,583 shares in the last quarter. 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.