Potbelly Corp (PBPB) to Post Q2 2020 Earnings of $0.07 Per Share, Piper Jaffray Companies Forecasts

Potbelly Corp (NASDAQ:PBPB) – Research analysts at Piper Jaffray Companies decreased their Q2 2020 earnings estimates for shares of Potbelly in a research report issued on Tuesday, May 7th. Piper Jaffray Companies analyst N. Regan now anticipates that the company will post earnings of $0.07 per share for the quarter, down from their previous forecast of $0.15. Piper Jaffray Companies also issued estimates for Potbelly’s Q3 2020 earnings at $0.05 EPS.

PBPB has been the topic of several other reports. Maxim Group reiterated a “buy” rating and issued a $12.00 price target on shares of Potbelly in a research note on Monday, January 28th. Bank of America set a $9.00 price target on shares of Potbelly and gave the company a “sell” rating in a research note on Tuesday, February 26th. Finally, Zacks Investment Research upgraded shares of Potbelly from a “hold” rating to a “strong-buy” rating and set a $9.75 price target on the stock in a research note on Friday, January 25th. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average target price of $8.92.

Shares of NASDAQ:PBPB opened at $6.54 on Thursday. Potbelly has a 12 month low of $6.47 and a 12 month high of $14.15. The firm has a market cap of $207.99 million, a P/E ratio of 22.55, a P/E/G ratio of 2.11 and a beta of 1.04.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). Potbelly had a positive return on equity of 6.81% and a negative net margin of 2.10%. The company had revenue of $98.09 million for the quarter, compared to analyst estimates of $100.96 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis.

Hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its stake in Potbelly by 97.1% in the 4th quarter. Millennium Management LLC now owns 629,545 shares of the company’s stock valued at $5,068,000 after buying an additional 310,119 shares during the last quarter. Vanguard Group Inc grew its position in shares of Potbelly by 6.1% in the 3rd quarter. Vanguard Group Inc now owns 1,310,489 shares of the company’s stock valued at $16,119,000 after acquiring an additional 75,769 shares during the period. Geode Capital Management LLC grew its position in shares of Potbelly by 16.3% in the 4th quarter. Geode Capital Management LLC now owns 306,747 shares of the company’s stock valued at $2,468,000 after acquiring an additional 42,963 shares during the period. Metropolitan Life Insurance Co. NY grew its position in shares of Potbelly by 287.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,032 shares of the company’s stock valued at $49,000 after acquiring an additional 4,474 shares during the period. Finally, BlackRock Inc. grew its position in shares of Potbelly by 2.4% in the 4th quarter. BlackRock Inc. now owns 1,696,625 shares of the company’s stock valued at $13,657,000 after acquiring an additional 39,857 shares during the period. Hedge funds and other institutional investors own 72.38% 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. 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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