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Panera Bread (PNRA) Fell To A New Low On Disappointing Forecast

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Panera Bread (PNRA: Quote) reported third quarter adjusted EPS of $1.35 after the bell Tuesday, which matched the consensus estimate. The company lowered its fourth quarter EPS forecast to between $1.91 and $1.97, from prior expectations of $2.05 to $2.11. The consensus estimate is for EPS of $2.08.

Panera now expects to report full year EPS of $6.77 to $6.83, compared to prior expectations of $6.89 to $7.01. The consensus estimate is for EPS of $6.81.

Panera Bread gapped open sharply lower Wednesday, but moved in a narrow range throughout the session. Shares closed down by 9.29 at $153.15, with volume at a 3-month high. The stock sank beneath support and set a new low for the year.

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by RTT Staff Writer

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