Party City Holdco Inc (PRTY) Expected to Post Earnings of $0.17 Per Share

Brokerages forecast that Party City Holdco Inc (NYSE:PRTY) will post earnings of $0.17 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Party City Holdco’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.20. Party City Holdco posted earnings of $0.13 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.8%. The firm is scheduled to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Party City Holdco will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.79 to $1.86. For the next year, analysts forecast that the firm will report earnings of $2.03 per share, with EPS estimates ranging from $1.95 to $2.14. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Party City Holdco.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, August 9th. The specialty retailer reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $561.00 million during the quarter, compared to the consensus estimate of $560.95 million. Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS.

Several analysts have recently issued reports on the company. ValuEngine upgraded Party City Holdco from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded Party City Holdco from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. TheStreet downgraded Party City Holdco from a “b-” rating to a “c” rating in a research note on Thursday, October 11th. Morgan Stanley decreased their price target on Party City Holdco from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. set a $19.00 price objective on Party City Holdco and gave the stock a “buy” rating in a research report on Monday, October 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.33.

PRTY opened at $11.52 on Tuesday. The stock has a market cap of $1.13 billion, a PE ratio of 8.36, a P/E/G ratio of 0.29 and a beta of 2.07. Party City Holdco has a 52-week low of $9.50 and a 52-week high of $16.95. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54.

In related news, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $15.50, for a total transaction of $155,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $14.08, for a total value of $704,000.00. Following the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at approximately $53,504. The disclosure for this sale can be found here. 6.47% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in Party City Holdco by 300.1% in the 1st quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after acquiring an additional 4,916 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Party City Holdco by 20.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the specialty retailer’s stock valued at $456,000 after acquiring an additional 5,008 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Party City Holdco by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 42,407 shares of the specialty retailer’s stock valued at $646,000 after acquiring an additional 5,808 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Party City Holdco by 26.3% in the 1st quarter. Wells Fargo & Company MN now owns 33,039 shares of the specialty retailer’s stock valued at $516,000 after acquiring an additional 6,878 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in Party City Holdco in the 1st quarter valued at approximately $145,000.

About Party City Holdco

Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories and novelties, stationery, and decorations.

See Also: Earnings Per Share

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