Potbelly (PBPB) Stock Rising Following Earnings Results

Potbelly (PBPB) stock is up after the company reported its 2015 third quarter earnings results.
By Amanda Albright ,

NEW YORK (TheStreet) -- Potbelly  (PBPB) - Get Report stock was up by 0.76% to $11.90 in early morning trading on Wednesday, after the company released its 2015 third quarter earnings results.

After the market close on Tuesday, the Chicago-based restaurant chain reported third quarter earnings that were below expectations and revenue that was in-line with expectations.

Potbelly reported earnings of 8 cents per share on a 13.4% year over year rise in revenue to $96 million. Analysts surveyed by Thomson Reuters were expecting the company to report earnings of 9 cents per share on revenue of $96 million. 

The company projected 2015 earnings of 27 cents per share to 28 cents per share, which is in-line with analysts' expectations, The Wall Street Journal reports.

"This was our fourth consecutive quarter of solid sales growth," Potbelly CEO Aylwin Lewis said in a statement. "We are pleased with our strong revenue and same store sales growth trends, and are focused on driving flow-through of our positive top-line growth to the bottom line."

Additionally, Potbelly announced that it opened 11 new company-operated shops in the third quarter and was expanding into California.

Separately, TheStreet Ratings team rates POTBELLY CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

We rate POTBELLY CORP (PBPB) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and poor profit margins.

You can view the full analysis from the report here: PBPB

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