Q4 2016 EPS Estimates for Panera Bread Co. Cut by Analyst (PNRA)
Panera Bread Co. (NASDAQ:PNRA) – Equities research analysts at Wedbush decreased their Q4 2016 earnings per share (EPS) estimates for shares of Panera Bread in a note issued to investors on Monday. Wedbush analyst N. Setyan now anticipates that the firm will post earnings per share of $2.00 for the quarter, down from their previous forecast of $2.01. Wedbush has a “Neutral” rating and a $220.00 price target on the stock.
Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.03. Panera Bread had a net margin of 5.24% and a return on equity of 39.44%. The company earned $684.20 million during the quarter, compared to the consensus estimate of $682.04 million. During the same quarter in the prior year, the company posted $1.32 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year.
Several other analysts have also issued reports on PNRA. Vetr upgraded Panera Bread from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Canaccord Genuity started coverage on Panera Bread in a research note on Monday, August 22nd. They issued a “buy” rating and a $255.00 price objective on the stock. Cowen and Company set a $240.00 price objective on Panera Bread and gave the company a “buy” rating in a research note on Thursday, August 11th. Maxim Group upped their price objective on Panera Bread from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 29th. Finally, Longbow Research upgraded Panera Bread from a “neutral” rating to a “buy” rating and set a $239.00 price objective on the stock in a research note on Monday, October 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $233.33.
Panera Bread (NASDAQ:PNRA) opened at 211.84 on Tuesday. The stock’s 50 day moving average is $198.33 and its 200-day moving average is $207.93. Panera Bread has a 1-year low of $178.99 and a 1-year high of $224.15. The firm has a market cap of $4.93 billion, a P/E ratio of 35.22 and a beta of 0.27.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Voloridge Investment Management LLC raised its position in shares of Panera Bread by 9.7% in the second quarter. Voloridge Investment Management LLC now owns 56,750 shares of the company’s stock valued at $12,028,000 after buying an additional 5,039 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in shares of Panera Bread by 74.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 52,430 shares of the company’s stock worth $11,112,000 after buying an additional 22,450 shares during the last quarter. Calamos Advisors LLC acquired a new stake in shares of Panera Bread during the second quarter worth $28,251,000. BB&T Corp acquired a new stake in shares of Panera Bread during the second quarter worth $2,291,000. Finally, Columbus Circle Investors increased its stake in shares of Panera Bread by 985.5% in the second quarter. Columbus Circle Investors now owns 409,650 shares of the company’s stock worth $86,821,000 after buying an additional 371,910 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Scott G. Blair sold 204 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $186.00, for a total transaction of $37,944.00. Following the completion of the transaction, the senior vice president now directly owns 5,752 shares of the company’s stock, valued at approximately $1,069,872. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.96% of the company’s stock.
About Panera Bread
Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.
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