Potbelly Corp (PBPB) Expected to Announce Quarterly Sales of $103.15 Million

Brokerages expect Potbelly Corp (NASDAQ:PBPB) to post $103.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Potbelly’s earnings, with the highest sales estimate coming in at $103.90 million and the lowest estimate coming in at $102.10 million. Potbelly posted sales of $112.15 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8%. The company is scheduled to announce its next earnings report on Friday, February 22nd.

According to Zacks, analysts expect that Potbelly will report full year sales of $423.37 million for the current financial year, with estimates ranging from $422.30 million to $424.10 million. For the next financial year, analysts expect that the business will report sales of $430.01 million, with estimates ranging from $426.90 million to $434.63 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Potbelly.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). Potbelly had a positive return on equity of 7.35% and a negative net margin of 2.72%. The company had revenue of $107.00 million for the quarter, compared to analyst estimates of $109.82 million. During the same quarter in the previous year, the firm posted $0.07 EPS. Potbelly’s quarterly revenue was up .8% on a year-over-year basis.

Several research analysts have weighed in on the company. Zacks Investment Research lowered Potbelly from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. ValuEngine lowered Potbelly from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, BidaskClub lowered Potbelly from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $14.00.

PBPB stock traded up $0.10 during midday trading on Wednesday, reaching $8.56. 116,566 shares of the company’s stock traded hands, compared to its average volume of 211,691. The stock has a market cap of $210.19 million, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. Potbelly has a fifty-two week low of $7.71 and a fifty-two week high of $14.15.

In other news, SVP Matthew J. Revord sold 18,200 shares of the business’s stock in a transaction on Friday, January 4th. The stock was sold at an average price of $8.15, for a total transaction of $148,330.00. Following the completion of the transaction, the senior vice president now owns 18,010 shares of the company’s stock, valued at approximately $146,781.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 21,800 shares of company stock valued at $177,670 over the last quarter. 10.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Potbelly during the third quarter valued at approximately $3,520,000. Millennium Management LLC bought a new position in shares of Potbelly in the second quarter worth $2,044,000. Renaissance Technologies LLC boosted its stake in Potbelly by 6.7% during the second quarter. Renaissance Technologies LLC now owns 2,128,300 shares of the company’s stock valued at $27,561,000 after buying an additional 133,900 shares during the period. Putnam Investments LLC boosted its stake in Potbelly by 698.3% during the second quarter. Putnam Investments LLC now owns 135,470 shares of the company’s stock valued at $1,754,000 after buying an additional 118,500 shares during the period. Finally, Vanguard Group Inc boosted its stake in Potbelly by 6.1% during the third quarter. Vanguard Group Inc now owns 1,310,489 shares of the company’s stock valued at $16,119,000 after buying an additional 75,769 shares during the period. Institutional investors own 76.08% 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 November 9, 2018, 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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