Zacks: Brokerages Anticipate Potbelly Corp (PBPB) Will Post Quarterly Sales of $109.15 Million

Wall Street brokerages expect Potbelly Corp (NASDAQ:PBPB) to announce sales of $109.15 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Potbelly’s earnings. The highest sales estimate is $109.20 million and the lowest is $109.10 million. Potbelly posted sales of $106.13 million during the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The company is scheduled to issue its next quarterly earnings results on Friday, November 2nd.

On average, analysts expect that Potbelly will report full-year sales of $429.80 million for the current financial year, with estimates ranging from $429.70 million to $429.90 million. For the next fiscal year, analysts forecast that the business will report sales of $435.40 million, with estimates ranging from $434.10 million to $436.70 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Potbelly.

Potbelly (NASDAQ:PBPB) last released its earnings results on Tuesday, August 7th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Potbelly had a negative net margin of 2.33% and a positive return on equity of 6.70%. The firm had revenue of $110.35 million during the quarter, compared to analyst estimates of $112.85 million.

Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Potbelly from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine lowered shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, BidaskClub lowered shares of Potbelly from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.00.

PBPB stock opened at $12.50 on Thursday. Potbelly has a 1-year low of $11.05 and a 1-year high of $14.15. The firm has a market cap of $314.40 million, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 1.92 and a beta of 0.81.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of Potbelly by 7.7% during the second quarter. Northern Trust Corp now owns 267,129 shares of the company’s stock worth $3,459,000 after acquiring an additional 19,174 shares during the last quarter. Putnam Investments LLC grew its position in shares of Potbelly by 698.3% during the second quarter. Putnam Investments LLC now owns 135,470 shares of the company’s stock worth $1,754,000 after acquiring an additional 118,500 shares during the last quarter. Millennium Management LLC acquired a new stake in Potbelly in the second quarter worth about $2,044,000. Macquarie Group Ltd. lifted its holdings in Potbelly by 138.6% in the second quarter. Macquarie Group Ltd. now owns 28,605 shares of the company’s stock worth $370,000 after purchasing an additional 16,614 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Potbelly by 6.7% in the second quarter. Renaissance Technologies LLC now owns 2,128,300 shares of the company’s stock worth $27,561,000 after purchasing an additional 133,900 shares during the period. Institutional investors and hedge funds own 71.92% of the company’s stock.

About Potbelly

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. It offers toasty warm sandwiches, salads, and other items. As of February 23, 2018, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, the United Kingdom, Canada, and India.

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