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Portillo's Inc. (PTLO) shares ended the last trading session 7.9% higher at $9.93. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.3% loss over the past four weeks.
Shares of Portillo's appreciated following the announcement that Jack Hartung, President and Chief Strategy Officer at Chipotle, has been appointed to its Board of Directors, effective immediately.
This company is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -92.3%. Revenues are expected to be $185.02 million, down 1.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Portillo's Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PTLO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Portillo's Inc. belongs to the Zacks Retail - Restaurants industry. Another stock from the same industry, Dine Brands (DIN), closed the last trading session 2.9% lower at $26.59. Over the past month, DIN has returned -13.4%.
Dine Brands' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.36. Compared to the company's year-ago EPS, this represents a change of -2.9%. Dine Brands currently boasts a Zacks Rank of #4 (Sell).
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Portillo's Inc. (PTLO) : Free Stock Analysis Report
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