Brokerages expect that Party City Holdco Inc (NYSE:PRTY) will report earnings of $0.06 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Party City Holdco’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.14. Party City Holdco reported earnings per share of $0.05 during the same quarter last year, which would suggest a positive year over year growth rate of 20%. The firm is scheduled to announce its next earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Party City Holdco will report full-year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.54 to $1.86. For the next year, analysts expect that the business will post earnings of $2.01 per share, with EPS estimates ranging from $1.95 to $2.09. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Party City Holdco.
Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Friday, March 9th. The specialty retailer reported $0.80 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The business had revenue of $789.60 million during the quarter, compared to the consensus estimate of $781.30 million. Party City Holdco had a net margin of 9.08% and a return on equity of 14.14%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share.
Several research firms have commented on PRTY. JPMorgan Chase & Co. downgraded shares of Party City Holdco from an “overweight” rating to a “hold” rating and boosted their price target for the stock from $16.00 to $17.00 in a research note on Monday. Telsey Advisory Group boosted their price target on shares of Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Bank of America boosted their price target on shares of Party City Holdco from $13.50 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, December 27th. Zacks Investment Research downgraded shares of Party City Holdco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.71.
In related news, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $14.00, for a total transaction of $700,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald C. Rittenberg sold 239,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $15.38, for a total transaction of $3,675,820.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 339,000 shares of company stock valued at $5,075,820. Insiders own 5.02% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PRTY. Neuberger Berman Group LLC lifted its position in Party City Holdco by 36.6% in the third quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock valued at $45,052,000 after acquiring an additional 890,188 shares during the last quarter. Shellback Capital LP purchased a new stake in Party City Holdco in the fourth quarter valued at $10,672,000. Bamco Inc. NY lifted its position in Party City Holdco by 20.7% in the fourth quarter. Bamco Inc. NY now owns 3,095,000 shares of the specialty retailer’s stock valued at $43,175,000 after acquiring an additional 530,000 shares during the last quarter. Rubric Capital Management LP lifted its position in Party City Holdco by 100.0% in the third quarter. Rubric Capital Management LP now owns 782,135 shares of the specialty retailer’s stock valued at $10,598,000 after acquiring an additional 390,970 shares during the last quarter. Finally, Sapience Investments LLC lifted its position in Party City Holdco by 35.4% in the fourth quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock valued at $19,658,000 after acquiring an additional 368,050 shares during the last quarter. 83.62% of the stock is owned by hedge funds and other institutional investors.
Party City Holdco (PRTY) traded down $0.05 during trading hours on Friday, hitting $15.75. 950,505 shares of the company’s stock traded hands, compared to its average volume of 871,060. The firm has a market capitalization of $1,885.29, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 0.42 and a beta of 2.37. The company has a current ratio of 1.29, a quick ratio of 0.40 and a debt-to-equity ratio of 1.58. Party City Holdco has a fifty-two week low of $9.50 and a fifty-two week high of $17.05.
About Party City Holdco
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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