Portillo’s (NASDAQ:PTLO) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Portillo’s (NASDAQ:PTLO) announced its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03, FiscalAI reports. The firm had revenue of $185.75 million during the quarter, compared to the consensus estimate of $185.50 million. Portillo’s had a return on equity of 4.99% and a net margin of 3.35%.The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 EPS.

Portillo’s Trading Up 2.3%

Shares of PTLO stock opened at $5.79 on Tuesday. The firm has a fifty day moving average of $5.30 and a 200-day moving average of $5.73. The stock has a market cap of $436.45 million, a price-to-earnings ratio of 16.08, a P/E/G ratio of 7.44 and a beta of 1.75. Portillo’s has a 52-week low of $4.41 and a 52-week high of $15.30. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.22 and a current ratio of 0.27.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PTLO shares. Morgan Stanley set a $7.00 price objective on Portillo’s in a research report on Tuesday, January 20th. UBS Group cut their target price on shares of Portillo’s from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Portillo’s in a research report on Monday, December 22nd. Stifel Nicolaus restated a “hold” rating and set a $6.00 price objective (down previously from $8.00) on shares of Portillo’s in a report on Wednesday, January 7th. Finally, Stephens cut their price objective on shares of Portillo’s from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.72.

Institutional Trading of Portillo’s

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTLO. Royal Bank of Canada lifted its stake in Portillo’s by 731.1% during the first quarter. Royal Bank of Canada now owns 156,710 shares of the company’s stock worth $1,864,000 after purchasing an additional 137,854 shares during the period. AQR Capital Management LLC acquired a new position in shares of Portillo’s in the 1st quarter worth approximately $318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Portillo’s by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,550 shares of the company’s stock worth $387,000 after buying an additional 1,808 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Portillo’s during the 2nd quarter worth approximately $145,000. Finally, Legal & General Group Plc boosted its stake in Portillo’s by 45.4% in the 2nd quarter. Legal & General Group Plc now owns 74,056 shares of the company’s stock valued at $864,000 after buying an additional 23,115 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

About Portillo’s

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.