Panera Bread Co (PNRA) Expected to Announce Quarterly Sales of $715.89 Million
Wall Street analysts expect Panera Bread Co (NASDAQ:PNRA) to report $715.89 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Panera Bread’s earnings. The highest sales estimate is $723.04 million and the lowest is $705.42 million. Panera Bread reported sales of $685.15 million in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, April 25th.
According to Zacks, analysts expect that Panera Bread will report full year sales of $715.89 million for the current fiscal year, with estimates ranging from $2.93 billion to $3.01 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.23 billion per share, with estimates ranging from $3.15 billion to $3.4 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Panera Bread.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.05. The business earned $727.11 million during the quarter, compared to analyst estimates of $727.75 million. Panera Bread had a return on equity of 42.93% and a net margin of 5.21%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS.
A number of equities analysts have recently weighed in on PNRA shares. Telsey Advisory Group increased their target price on Panera Bread from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Zacks Investment Research lowered Panera Bread from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Robert W. Baird reiterated an “outperform” rating on shares of Panera Bread in a research note on Thursday, February 16th. Maxim Group reiterated a “hold” rating and set a $315.00 target price on shares of Panera Bread in a research note on Tuesday, April 11th. Finally, William Blair lowered Panera Bread from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 5th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Panera Bread currently has an average rating of “Hold” and a consensus target price of $271.87.
Large investors have recently added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Panera Bread by 20,409.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 116,491 shares of the company’s stock valued at $116,000 after buying an additional 115,923 shares during the period. Flinton Capital Management LLC purchased a new stake in Panera Bread during the fourth quarter valued at $144,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Panera Bread during the fourth quarter valued at $208,000. Credit Agricole S A increased its stake in Panera Bread by 10.9% in the fourth quarter. Credit Agricole S A now owns 1,028 shares of the company’s stock valued at $211,000 after buying an additional 101 shares during the period. Finally, Cornerstone Wealth Management LLC purchased a new stake in Panera Bread during the third quarter valued at $214,000. 93.32% of the stock is currently owned by institutional investors.
Shares of Panera Bread (NASDAQ:PNRA) traded down 0.04% during midday trading on Friday, hitting $314.27. The stock had a trading volume of 449,304 shares. Panera Bread has a one year low of $185.69 and a one year high of $316.21. The firm’s 50-day moving average is $266.20 and its 200 day moving average is $223.54. The company has a market capitalization of $7.12 billion, a PE ratio of 50.85 and a beta of 0.31.
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About Panera Bread
Panera Bread Company is a food service company. The Company is a national bakery-cafe concept. As of December 27, 2016, the Company operated 2,036 own and franchise-operated bakery-cafe locations in 46 states, the District of Columbia, and Ontario, Canada. It operates through three segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations.
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