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

Portillo’s (NASDAQ:PTLO) issued its earnings results on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04, Briefing.com reports. The company had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. Portillo’s’s quarterly 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.

Portillo’s Price Performance

NASDAQ:PTLO traded down $0.35 during trading hours on Wednesday, hitting $13.14. 1,428,705 shares of the stock traded hands, compared to its average volume of 1,037,187. Portillo’s has a 1 year low of $8.66 and a 1 year high of $16.92. The stock has a 50 day moving average price of $12.72 and a 200 day moving average price 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. The company has a market cap of $958.83 million, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 17.75 and a beta of 1.78.

Wall Street Analysts Forecast Growth

PTLO has been the topic of a number of recent analyst reports. Bank of America decreased their price objective 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. Morgan Stanley decreased their price target on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Stifel Nicolaus downgraded shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price for the company. in a research report on Wednesday. UBS Group boosted their price target on shares of Portillo’s from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stephens reiterated an “equal weight” rating and issued a $13.00 target price on shares of Portillo’s in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Portillo’s presently has a consensus rating of “Hold” and a consensus target price of $14.00.

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.