Potbelly (NASDAQ:PBPB) posted its quarterly earnings results on Friday. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01), MarketWatch Earnings reports. Potbelly had a negative net margin of 2.33% and a positive return on equity of 6.70%. The business had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $109.82 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Potbelly updated its FY 2018 guidance to $0.26-0.27 EPS and its FY18 guidance to $0.26-0.27 EPS.
Potbelly stock opened at $10.86 on Friday. The firm has a market capitalization of $298.11 million, a price-to-earnings ratio of 35.03, a price-to-earnings-growth ratio of 1.82 and a beta of 0.78. Potbelly has a 12 month low of $10.00 and a 12 month high of $14.15.
A number of institutional investors have recently added to or reduced their stakes in PBPB. Quantitative Systematic Strategies LLC acquired a new position in Potbelly in the second quarter worth $146,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Potbelly in the second quarter valued at $152,000. Granite Investment Partners LLC bought a new stake in Potbelly in the second quarter valued at $200,000. Prudential Financial Inc. bought a new stake in Potbelly in the third quarter valued at $213,000. Finally, Equitec Specialists LLC bought a new stake in Potbelly in the third quarter valued at $243,000. 73.11% of the stock is owned by hedge funds and other institutional investors.
PBPB has been the topic of several research reports. Zacks Investment Research lowered shares of Potbelly from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. BidaskClub lowered shares of Potbelly from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 1st. ValuEngine upgraded shares of Potbelly from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Finally, Maxim Group upgraded shares of Potbelly from a “hold” rating to a “buy” rating and raised their price target for the company from $13.00 to $15.00 in a report on Wednesday, October 10th.
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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 August 7, 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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