Potbelly Corp (NASDAQ:PBPB) – Equities researchers at William Blair dropped their FY2019 earnings per share estimates for shares of Potbelly in a research report issued to clients and investors on Tuesday, November 5th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of ($0.10) for the year, down from their previous estimate of ($0.04). William Blair also issued estimates for Potbelly’s Q4 2019 earnings at $0.00 EPS.

Several other equities analysts have also commented on PBPB. ValuEngine upgraded shares of Potbelly from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Potbelly from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Maxim Group increased their price target on shares of Potbelly from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.50.

Shares of Potbelly stock opened at $4.93 on Friday. The firm has a market capitalization of $120.03 million, a P/E ratio of 17.00 and a beta of 1.19. Potbelly has a 52 week low of $3.10 and a 52 week high of $11.18. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 2.89. The firm’s 50 day moving average is $4.24 and its two-hundred day moving average is $5.00.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The company had revenue of $104.20 million for the quarter, compared to analyst estimates of $103.77 million. Potbelly had a negative net margin of 6.59% and a negative return on equity of 1.74%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Potbelly by 9.3% during the second quarter. Vanguard Group Inc. now owns 1,249,971 shares of the company’s stock worth $6,362,000 after acquiring an additional 106,688 shares during the last quarter. 3G Capital Partners LP grew its position in shares of Potbelly by 2.6% during the second quarter. 3G Capital Partners LP now owns 875,130 shares of the company’s stock worth $4,454,000 after acquiring an additional 22,481 shares during the last quarter. Engine Capital Management LP grew its position in shares of Potbelly by 213.8% during the second quarter. Engine Capital Management LP now owns 425,020 shares of the company’s stock worth $2,163,000 after acquiring an additional 289,592 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Potbelly by 34.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 396,388 shares of the company’s stock worth $2,018,000 after acquiring an additional 100,979 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of Potbelly by 890.9% during the second quarter. GSA Capital Partners LLP now owns 153,808 shares of the company’s stock worth $783,000 after acquiring an additional 138,286 shares during the last quarter. Institutional investors and hedge funds own 60.39% 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.

Further Reading: Strangles

Earnings History and Estimates for Potbelly (NASDAQ:PBPB)

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