Potbelly Corp (PBPB) Expected to Post Quarterly Sales of $101.97 Million

Wall Street analysts forecast that Potbelly Corp (NASDAQ:PBPB) will report $101.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Potbelly’s earnings, with the highest sales estimate coming in at $104.00 million and the lowest estimate coming in at $98.20 million. Potbelly reported sales of $102.92 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The business is expected to issue its next quarterly earnings results on Tuesday, May 14th.

On average, analysts expect that Potbelly will report full year sales of $428.51 million for the current fiscal year, with estimates ranging from $424.70 million to $434.63 million. For the next year, analysts forecast that the business will post sales of $437.20 million, with estimates ranging from $436.00 million to $438.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Potbelly.

Potbelly (NASDAQ:PBPB) last released its quarterly earnings results on Monday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. Potbelly had a positive return on equity of 6.81% and a negative net margin of 2.10%. The business had revenue of $102.37 million during the quarter, compared to analysts’ expectations of $103.65 million. During the same period in the previous year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year.

A number of brokerages recently commented on PBPB. Zacks Investment Research lowered Potbelly from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Maxim Group reiterated a “buy” rating and issued a $11.00 price objective (down from $12.00) on shares of Potbelly in a research report on Tuesday, February 26th. ValuEngine lowered Potbelly from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Bank of America set a $9.00 price objective on Potbelly and gave the stock a “sell” rating in a research report on Tuesday, February 26th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.92.

PBPB stock traded up $0.12 during midday trading on Thursday, reaching $8.92. The stock had a trading volume of 134,386 shares, compared to its average volume of 175,530. The firm has a market cap of $214.98 million, a price-to-earnings ratio of 30.76, a PEG ratio of 1.91 and a beta of 1.03. Potbelly has a twelve month low of $7.71 and a twelve month high of $14.15.

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its position in shares of Potbelly by 97.1% during the 4th quarter. Millennium Management LLC now owns 629,545 shares of the company’s stock worth $5,068,000 after buying an additional 310,119 shares during the period. Putnam Investments LLC grew its position in shares of Potbelly by 31.2% during the 3rd quarter. Putnam Investments LLC now owns 177,690 shares of the company’s stock worth $2,186,000 after buying an additional 42,220 shares during the period. Vanguard Group Inc grew its position in shares of Potbelly by 6.1% during the 3rd quarter. Vanguard Group Inc now owns 1,310,489 shares of the company’s stock worth $16,119,000 after buying an additional 75,769 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Potbelly during the 3rd quarter worth about $213,000. Finally, Prudential Financial Inc. acquired a new position in shares of Potbelly during the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Potbelly Company Profile

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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Earnings History and Estimates for Potbelly (NASDAQ:PBPB)

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