Portillo’s FY2024 EPS Forecast Increased by William Blair

Portillo’s Inc. (NASDAQ:PTLO) – Equities researchers at William Blair raised their FY2024 EPS estimates for shares of Portillo’s in a note issued to investors on Wednesday, November 6th. William Blair analyst S. Zackfia now forecasts that the company will earn $0.31 per share for the year, up from their prior forecast of $0.30. The consensus estimate for Portillo’s’ current full-year earnings is $0.27 per share.

PTLO has been the topic of a number of other research reports. Stephens reiterated an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a research note on Wednesday. UBS Group upped their target price on shares of Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America lowered their target price on shares of Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Stifel Nicolaus cut shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research note on Wednesday. Finally, Morgan Stanley lowered their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Portillo’s Stock Performance

Shares of Portillo’s stock opened at $12.77 on Friday. The stock has a market cap of $931.89 million, a price-to-earnings ratio of 30.40, a PEG ratio of 17.75 and a beta of 1.78. The firm’s 50-day moving average is $12.75 and its 200 day moving average is $11.26. Portillo’s has a 1 year low of $8.66 and a 1 year high of $16.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.38 and a quick ratio of 0.30.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $178.25 million for the quarter, compared to the consensus estimate of $182.07 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS.

Hedge Funds Weigh In On Portillo’s

Several institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in Portillo’s by 10.4% in the 1st quarter. California State Teachers Retirement System now owns 54,329 shares of the company’s stock worth $770,000 after acquiring an additional 5,120 shares in the last quarter. Engaged Capital LLC increased its holdings in Portillo’s by 38.7% in the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after acquiring an additional 770,443 shares in the last quarter. Swiss National Bank increased its holdings in Portillo’s by 17.4% in the 1st quarter. Swiss National Bank now owns 108,400 shares of the company’s stock worth $1,537,000 after acquiring an additional 16,100 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Portillo’s by 51.2% in 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 in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Portillo’s in the 1st quarter worth approximately $188,000. 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.