Portillo’s (NASDAQ:PTLO) Releases Quarterly Earnings Results

Portillo’s (NASDAQ:PTLO) released its quarterly earnings results on Tuesday. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04, Briefing.com reports. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The business had revenue of $178.25 million during the quarter, compared to analyst estimates of $182.07 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis.

Portillo’s Stock Down 2.6 %

PTLO traded down $0.35 on Wednesday, reaching $13.14. The company’s stock had a trading volume of 1,428,705 shares, compared to its average volume of 1,037,187. The company has a market capitalization of $958.83 million, a price-to-earnings ratio of 34.95, a P/E/G ratio of 17.75 and a beta of 1.78. Portillo’s has a fifty-two week low of $8.66 and a fifty-two week high of $16.92. The stock has a 50 day moving average of $12.72 and a two-hundred day moving average of $11.24. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60.

Analyst Ratings Changes

PTLO has been the topic of a number of analyst reports. Stifel Nicolaus cut shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a research note on Wednesday. UBS Group boosted their price objective on shares of Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday. Stephens restated an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a report on Wednesday. Morgan Stanley cut their price target 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. Finally, Bank of America cut 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.00.

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.