Potbelly Corp (NASDAQ:PBPB) shares dropped 3.3% during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $10.00 and last traded at $10.50. Approximately 12,629 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 315,364 shares. The stock had previously closed at $10.86.
The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $107.00 million during the quarter, compared to analyst estimates of $109.82 million. Potbelly had a positive return on equity of 6.70% and a negative net margin of 2.33%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share.
PBPB has been the subject of a number of research analyst reports. BidaskClub upgraded Potbelly from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Zacks Investment Research downgraded Potbelly from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. ValuEngine upgraded Potbelly from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Finally, Maxim Group upgraded Potbelly from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.00 to $15.00 in a research report on Wednesday, October 10th.
The stock has a market cap of $276.47 million, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.
About Potbelly (NASDAQ:PBPB)
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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