Wall Street analysts expect Pandora Media Inc. (NYSE:P) to announce ($0.15) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Pandora Media’s earnings, with estimates ranging from ($0.20) to ($0.09). Pandora Media reported earnings per share of ($0.21) in the same quarter last year, which would suggest a positive year-over-year growth rate of 28.6%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Pandora Media will report full year earnings of ($0.50) per share for the current year, with EPS estimates ranging from ($0.81) to ($0.25). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.52) to $0.22. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Pandora Media.
Pandora Media (NYSE:P) last announced its earnings results on Thursday, May 3rd. The Internet radio service reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.11. Pandora Media had a negative net margin of 37.21% and a negative return on equity of 198.06%. The business had revenue of $319.20 million during the quarter, compared to analysts’ expectations of $304.43 million. During the same period in the prior year, the company earned ($0.24) earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis.
A number of analysts have recently issued reports on P shares. Raymond James raised shares of Pandora Media from a “market perform” rating to a “strong-buy” rating and set a $8.00 price objective for the company in a research note on Thursday, March 22nd. Wedbush set a $12.00 target price on shares of Pandora Media and gave the stock a “buy” rating in a report on Friday, February 16th. UBS upgraded shares of Pandora Media from a “market perform” rating to a “strong-buy” rating in a report on Thursday, March 22nd. B. Riley restated a “hold” rating and issued a $8.00 target price on shares of Pandora Media in a report on Thursday, February 1st. Finally, Aegis restated a “buy” rating and issued a $7.00 target price (down previously from $12.00) on shares of Pandora Media in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.54.
P stock traded down $0.05 during midday trading on Monday, reaching $7.35. 35,719 shares of the company’s stock traded hands, compared to its average volume of 10,787,552. Pandora Media has a 52-week low of $4.09 and a 52-week high of $9.98. The stock has a market cap of $1.85 billion, a P/E ratio of -5.96 and a beta of -0.59. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 6.15.
In related news, General Counsel Stephen G. Bene sold 6,574 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $7.40, for a total transaction of $48,647.60. Following the transaction, the general counsel now owns 604,241 shares in the company, valued at $4,471,383.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen Robinson sold 43,411 shares of the business’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $7.44, for a total transaction of $322,977.84. Following the transaction, the insider now owns 742,416 shares in the company, valued at approximately $5,523,575.04. The disclosure for this sale can be found here. Insiders sold 98,810 shares of company stock worth $731,164 in the last 90 days. Corporate insiders own 2.59% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in P. Xact Kapitalforvaltning AB lifted its holdings in shares of Pandora Media by 41.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 40,252 shares of the Internet radio service’s stock worth $202,000 after acquiring an additional 11,700 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Pandora Media by 10.9% in the 1st quarter. Legal & General Group Plc now owns 127,512 shares of the Internet radio service’s stock worth $641,000 after acquiring an additional 12,516 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Pandora Media in the 1st quarter worth about $6,045,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Pandora Media by 16.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 56,070 shares of the Internet radio service’s stock worth $282,000 after acquiring an additional 7,966 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Pandora Media by 91.0% in the 1st quarter. Point72 Asset Management L.P. now owns 7,199,893 shares of the Internet radio service’s stock worth $36,215,000 after acquiring an additional 3,430,893 shares during the last quarter.
About Pandora Media
Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.
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