Equities analysts predict that Party City Holdco Inc (NYSE:PRTY) will post $0.78 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Party City Holdco’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.76. Party City Holdco posted earnings of $0.76 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The business is scheduled to report its next quarterly earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Party City Holdco will report full-year earnings of $1.23 per share for the current fiscal year, with EPS estimates ranging from $1.22 to $1.24. For the next year, analysts forecast that the firm will report earnings of $1.46 per share, with EPS estimates ranging from $1.35 to $1.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Party City Holdco.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $560.11 million during the quarter, compared to analysts’ expectations of $587.74 million. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS.
PRTY has been the subject of a number of research analyst reports. BMO Capital Markets upgraded Party City Holdco from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $11.20 to $16.00 in a report on Tuesday, October 24th. ValuEngine upgraded Party City Holdco from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Zacks Investment Research lowered Party City Holdco from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Morgan Stanley decreased their target price on Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Finally, JPMorgan Chase & Co. began coverage on Party City Holdco in a research note on Monday, November 13th. They set an “overweight” rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.86.
Party City Holdco (NYSE PRTY) opened at $13.80 on Friday. The firm has a market capitalization of $1,660.00 and a price-to-earnings ratio of 14.38. The company has a current ratio of 1.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.43. Party City Holdco has a twelve month low of $9.50 and a twelve month high of $17.05.
Party City Holdco declared that its board has initiated a stock buyback program on Thursday, November 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In related news, CEO James M. Harrison purchased 20,000 shares of Party City Holdco stock in a transaction on Monday, November 13th. The shares were bought at an average price of $11.27 per share, with a total value of $225,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gerald C. Rittenberg sold 100,000 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $14.00, for a total value of $1,400,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,542,979 shares of company stock worth $276,426,948. 5.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of PRTY. Neuberger Berman Group LLC raised its position in Party City Holdco by 36.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock valued at $45,052,000 after purchasing an additional 890,188 shares in the last quarter. Rubric Capital Management LP raised its position in Party City Holdco by 100.0% in the 3rd quarter. Rubric Capital Management LP now owns 782,135 shares of the specialty retailer’s stock valued at $10,598,000 after purchasing an additional 390,970 shares in the last quarter. Citadel Advisors LLC raised its position in Party City Holdco by 145.6% in the 3rd quarter. Citadel Advisors LLC now owns 479,027 shares of the specialty retailer’s stock valued at $6,491,000 after purchasing an additional 283,987 shares in the last quarter. Rice Hall James & Associates LLC raised its position in Party City Holdco by 18.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,377,866 shares of the specialty retailer’s stock valued at $18,670,000 after purchasing an additional 215,136 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its position in Party City Holdco by 16.0% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,412,261 shares of the specialty retailer’s stock valued at $19,136,000 after purchasing an additional 194,516 shares in the last quarter.
Party City Holdco Company Profile
Party City Holdco Inc is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc (PCHI).
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