Potbelly Corp to Post Q3 2020 Earnings of $0.01 Per Share, Piper Jaffray Companies Forecasts (NASDAQ:PBPB)

Potbelly Corp (NASDAQ:PBPB) – Piper Jaffray Companies reduced their Q3 2020 earnings per share (EPS) estimates for Potbelly in a research note issued on Monday, November 4th. Piper Jaffray Companies analyst N. Regan now forecasts that the company will post earnings of $0.01 per share for the quarter, down from their prior estimate of $0.05. Piper Jaffray Companies also issued estimates for Potbelly’s Q4 2020 earnings at $0.00 EPS and FY2021 earnings at ($0.11) EPS.

Potbelly (NASDAQ:PBPB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. Potbelly had a negative net margin of 6.45% and a positive return on equity of 0.10%. The company had revenue of $104.20 million during the quarter, compared to the consensus estimate of $103.77 million. During the same period in the prior year, the firm earned $0.09 earnings per share. Potbelly’s revenue was down 2.6% on a year-over-year basis.

PBPB has been the subject of a number of other research reports. ValuEngine raised shares of Potbelly from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Potbelly from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Wednesday. Finally, Maxim Group raised their target price on shares of Potbelly from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Potbelly has an average rating of “Hold” and a consensus price target of $6.50.

Shares of NASDAQ PBPB opened at $4.99 on Wednesday. Potbelly has a fifty-two week low of $3.10 and a fifty-two week high of $11.91. The company has a 50 day simple moving average of $4.22 and a two-hundred day simple moving average of $5.04. The company has a market capitalization of $107.67 million, a price-to-earnings ratio of 17.21 and a beta of 1.19. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.56 and a current ratio of 0.62.

Several hedge funds and other institutional investors have recently made changes to their positions in PBPB. AdvisorNet Financial Inc bought a new position in shares of Potbelly during the second quarter valued at approximately $86,000. SG Americas Securities LLC increased its position in shares of Potbelly by 239.0% during the second quarter. SG Americas Securities LLC now owns 76,403 shares of the company’s stock valued at $389,000 after acquiring an additional 53,866 shares in the last quarter. GSA Capital Partners LLP increased 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 valued at $783,000 after acquiring an additional 138,286 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Potbelly by 2,664.7% during the second quarter. JPMorgan Chase & Co. now owns 150,123 shares of the company’s stock valued at $727,000 after acquiring an additional 144,693 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Potbelly by 4.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 129,952 shares of the company’s stock valued at $662,000 after acquiring an additional 5,778 shares in the last quarter. 60.39% of the stock is owned by institutional investors and hedge funds.

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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