Q4 Preview: Recent Upside in Panera (PNRA) Shares Could Be Erased If Co. Misses Figures
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Price: $314.93 --0%
Rating Summary:
12 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Panera Bread Co. (Nasdaq: PNRA) are trading up roughly 1.4 percent Tuesday ahead of the release of its fourth-quarter results after the closing bell.
The Wall Street quarterly consensus for Panera Bread is $1.42 per share in earnings on $499.03 million in sales. During the fourth quarter of last year, the company reported earnings of $1.21 per share on $428.16 million in total sales. The company’s guidance called for earnings of $1.39-$1.41 per share on same-store sales growth of 5.5-6.5 percent.
For the full year 2011, analysts on the Street are currently estimating $4.65 per share in earnings on $1.83 billion in total sales.
The fourth quarter conference call is scheduled for 8:30 am ET on February 8, 2012. The call in number is 888-378-4350 and the passcode is 7577492.
According to data from Bloomberg, shares of Panera Bread have 13 Buy ratings, 10 Hold ratings and zero Sell ratings. The average price target on shares of Panera is $154.50 with a range from $130 to $175.
Analyst Comments:
Goldman Sachs noted the company has been performing particularly well on the top line throughout the year and expects the trend to remain consistent throughout the fourth quarter. The firm’s same-store sales growth forecast of 6.2 percent is above the Street’s consensus of 5.4 percent, while its restaurant margin estimate of 20.8 percent is below the Street’s estimate of 21.1 percent. Goldman highlighted it’s lower margin assumption is due to a 2.3 percent increase in food costs year over year, well above the Street’s prediction of 1.5 percent.
Goldman said earnings will most likely fall inline with the Street’s consensus, but also warned a miss could cause the stock to drop significantly. The firm remains Neutral on the stock going into the release.
DA Davidson reaffirmed its Buy rating and $175 price target going into the release. The firm estimates earnings of $1.41 per share on $500.5 million in total sales. The firm also noted margins are being pressured by higher food costs and will be offset by a 6.3 percent increase in same-store-sales growth.
An analyst at DA Davidson said the main topics of the conference call will include: What efforts have resulted in record new store productivity, Traffic trends and outlook, Update on the MyPanera loyalty program, Labor scheduling, What new menu items are in the product pipeline for Spring?
Wedbush estimates same-store sales growth of 6.5 percent, but forecasts earnings of $1.40 per share on $498 million in total revenue. “We believe transaction growth guidance could prove conservative yet again from the impact of higher media spend and more refined loyalty incentives,” reports an analyst at the firm.
Wedbush maintains a Neutral rating and $130 price target on the company.
The Wall Street quarterly consensus for Panera Bread is $1.42 per share in earnings on $499.03 million in sales. During the fourth quarter of last year, the company reported earnings of $1.21 per share on $428.16 million in total sales. The company’s guidance called for earnings of $1.39-$1.41 per share on same-store sales growth of 5.5-6.5 percent.
For the full year 2011, analysts on the Street are currently estimating $4.65 per share in earnings on $1.83 billion in total sales.
The fourth quarter conference call is scheduled for 8:30 am ET on February 8, 2012. The call in number is 888-378-4350 and the passcode is 7577492.
According to data from Bloomberg, shares of Panera Bread have 13 Buy ratings, 10 Hold ratings and zero Sell ratings. The average price target on shares of Panera is $154.50 with a range from $130 to $175.
Analyst Comments:
Goldman Sachs noted the company has been performing particularly well on the top line throughout the year and expects the trend to remain consistent throughout the fourth quarter. The firm’s same-store sales growth forecast of 6.2 percent is above the Street’s consensus of 5.4 percent, while its restaurant margin estimate of 20.8 percent is below the Street’s estimate of 21.1 percent. Goldman highlighted it’s lower margin assumption is due to a 2.3 percent increase in food costs year over year, well above the Street’s prediction of 1.5 percent.
Goldman said earnings will most likely fall inline with the Street’s consensus, but also warned a miss could cause the stock to drop significantly. The firm remains Neutral on the stock going into the release.
DA Davidson reaffirmed its Buy rating and $175 price target going into the release. The firm estimates earnings of $1.41 per share on $500.5 million in total sales. The firm also noted margins are being pressured by higher food costs and will be offset by a 6.3 percent increase in same-store-sales growth.
An analyst at DA Davidson said the main topics of the conference call will include: What efforts have resulted in record new store productivity, Traffic trends and outlook, Update on the MyPanera loyalty program, Labor scheduling, What new menu items are in the product pipeline for Spring?
Wedbush estimates same-store sales growth of 6.5 percent, but forecasts earnings of $1.40 per share on $498 million in total revenue. “We believe transaction growth guidance could prove conservative yet again from the impact of higher media spend and more refined loyalty incentives,” reports an analyst at the firm.
Wedbush maintains a Neutral rating and $130 price target on the company.
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