Analysts expect that Pandora Media, Inc. (NYSE:P) will post earnings per share of ($0.06) for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Pandora Media’s earnings, with estimates ranging from ($0.12) to $0.00. Pandora Media posted earnings of ($0.07) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The company is expected to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Pandora Media will report full year earnings of ($0.56) per share for the current fiscal year, with EPS estimates ranging from ($1.61) to ($0.29). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.22) per share, with EPS estimates ranging from ($0.48) to $0.08. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Pandora Media.
Pandora Media (NYSE:P) last announced its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. The business had revenue of $376.83 million for the quarter, compared to the consensus estimate of $367.51 million. Pandora Media had a negative net margin of 39.90% and a negative return on equity of 58.81%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) earnings per share.
Several brokerages have commented on P. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 target price (down from $15.00) on shares of Pandora Media in a report on Tuesday, August 1st. MKM Partners reiterated a “neutral” rating and issued a $10.00 target price on shares of Pandora Media in a report on Wednesday, August 2nd. Wells Fargo & Company reiterated a “hold” rating on shares of Pandora Media in a report on Tuesday, August 15th. FBR & Co reiterated a “buy” rating and issued a $11.00 target price on shares of Pandora Media in a report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Pandora Media from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Pandora Media presently has an average rating of “Hold” and an average price target of $12.07.
In related news, insider Christopher W. Phillips sold 10,322 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $86,911.24. Following the transaction, the insider now owns 423,872 shares in the company, valued at $3,569,002.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO John Trimble sold 10,547 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total value of $88,805.74. The disclosure for this sale can be found here. Insiders have sold a total of 67,366 shares of company stock worth $564,822 in the last quarter. Company insiders own 2.59% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its position in shares of Pandora Media by 24.5% in the second quarter. Public Employees Retirement System of Ohio now owns 69,741 shares of the Internet radio service’s stock worth $622,000 after purchasing an additional 13,742 shares during the period. Highlander Capital Management LLC increased its position in shares of Pandora Media by 100.0% in the second quarter. Highlander Capital Management LLC now owns 26,000 shares of the Internet radio service’s stock worth $228,000 after purchasing an additional 13,000 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Pandora Media by 68.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,270 shares of the Internet radio service’s stock worth $377,000 after purchasing an additional 17,231 shares during the period. PineView Asset Management LP increased its position in shares of Pandora Media by 24.5% in the second quarter. PineView Asset Management LP now owns 1,324,024 shares of the Internet radio service’s stock worth $11,810,000 after purchasing an additional 260,495 shares during the period. Finally, Alpine Global Management LLC bought a new position in shares of Pandora Media in the second quarter worth $892,000.
Shares of Pandora Media (NYSE:P) traded down 0.61% during trading on Friday, hitting $8.12. 4,489,288 shares of the company traded hands. Pandora Media has a one year low of $6.76 and a one year high of $14.95. The stock’s market cap is $1.97 billion. The firm has a 50 day moving average price of $8.39 and a 200-day moving average price of $9.65.
About Pandora Media
Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.
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