$105.35 Million in Sales Expected for Potbelly Corp (NASDAQ:PBPB) This Quarter

Wall Street brokerages forecast that Potbelly Corp (NASDAQ:PBPB) will report sales of $105.35 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Potbelly’s earnings, with the lowest sales estimate coming in at $104.30 million and the highest estimate coming in at $106.40 million. Potbelly reported sales of $107.00 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.5%. The company is expected to announce its next quarterly earnings results on Friday, November 8th.

According to Zacks, analysts expect that Potbelly will report full-year sales of $411.65 million for the current fiscal year, with estimates ranging from $409.10 million to $414.20 million. For the next fiscal year, analysts expect that the firm will report sales of $419.15 million, with estimates ranging from $419.10 million to $419.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Potbelly.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.08). The company had revenue of $105.60 million during the quarter, compared to analyst estimates of $106.01 million. Potbelly had a negative net margin of 6.45% and a positive return on equity of 0.10%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS.

PBPB has been the topic of several research analyst reports. Zacks Investment Research downgraded Potbelly from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Maxim Group set a $4.00 price objective on Potbelly and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised Potbelly from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Potbelly currently has an average rating of “Sell” and a consensus price target of $7.58.

Shares of PBPB stock traded up $0.18 during trading hours on Friday, reaching $4.50. The company had a trading volume of 210,300 shares, compared to its average volume of 336,946. The firm has a market cap of $106.97 million, a price-to-earnings ratio of 15.52 and a beta of 1.29. Potbelly has a 1-year low of $3.10 and a 1-year high of $14.15. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.62 and a quick ratio of 0.56. The company has a 50 day moving average of $4.47 and a 200 day moving average of $6.72.

A number of institutional investors have recently modified their holdings of PBPB. Royal Bank of Canada grew its stake in shares of Potbelly by 469.0% during the second quarter. Royal Bank of Canada now owns 28,764 shares of the company’s stock worth $146,000 after buying an additional 23,709 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of Potbelly during the second quarter worth $67,000. Engine Capital Management LP grew its stake in shares of Potbelly by 213.8% during the second quarter. Engine Capital Management LP now owns 425,020 shares of the company’s stock worth $2,163,000 after buying an additional 289,592 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Potbelly by 34.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 396,388 shares of the company’s stock worth $2,018,000 after buying an additional 100,979 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Potbelly during the second quarter worth $66,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.

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