Brokers Issue Forecasts for Pandora Media, Inc.’s FY2017 Earnings (P)
Pandora Media, Inc. (NYSE:P) – Dougherty & Co lowered their FY2017 earnings per share (EPS) estimates for shares of Pandora Media in a research report issued on Monday. Dougherty & Co analyst S. Frankel now anticipates that the Internet radio service will post earnings per share of ($1.20) for the year, down from their previous forecast of ($1.19). Dougherty & Co has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for Pandora Media’s Q4 2017 earnings at ($0.13) EPS.
Pandora Media (NYSE:P) last released its earnings results on Monday, May 8th. The Internet radio service reported ($0.37) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.13. The firm had revenue of $316 million for the quarter, compared to the consensus estimate of $318.15 million. Pandora Media had a negative net margin of 25.66% and a negative return on equity of 45.15%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) EPS.
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Several other equities analysts have also issued reports on P. B. Riley reiterated a “buy” rating and issued a $15.00 target price on shares of Pandora Media in a research note on Tuesday, May 9th. BMO Capital Markets reissued a “hold” rating and issued a $12.00 price target on shares of Pandora Media in a report on Sunday, July 16th. CIBC reissued a “market perform” rating and issued a $18.00 price target on shares of Pandora Media in a report on Monday, June 12th. Wedbush downgraded Pandora Media from a “neutral” rating to a “market perform” rating and set a $15.00 price target for the company. in a report on Monday, June 12th. Finally, Piper Jaffray Companies set a $18.00 price target on Pandora Media and gave the stock a “buy” rating in a report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.94.
Shares of Pandora Media (NYSE P) traded down 0.10% during trading on Wednesday, reaching $9.82. 851,424 shares of the company were exchanged. The firm’s market capitalization is $2.36 billion. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98. The firm’s 50 day moving average is $8.56 and its 200 day moving average is $10.82.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Pandora Media by 4.2% in the first quarter. Vanguard Group Inc. now owns 17,229,855 shares of the Internet radio service’s stock worth $203,485,000 after buying an additional 695,819 shares during the period. Waddell & Reed Financial Inc. boosted its stake in Pandora Media by 9.1% in the first quarter. Waddell & Reed Financial Inc. now owns 13,919,032 shares of the Internet radio service’s stock valued at $164,384,000 after buying an additional 1,156,593 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Pandora Media by 44.0% in the first quarter. Alliancebernstein L.P. now owns 5,660,574 shares of the Internet radio service’s stock valued at $66,851,000 after buying an additional 1,729,354 shares during the last quarter. First Trust Advisors LP boosted its stake in Pandora Media by 10.1% in the first quarter. First Trust Advisors LP now owns 4,729,189 shares of the Internet radio service’s stock valued at $55,852,000 after buying an additional 435,756 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Pandora Media by 15.3% in the first quarter. Macquarie Group Ltd. now owns 3,947,837 shares of the Internet radio service’s stock valued at $46,624,000 after buying an additional 523,131 shares during the last quarter.
In other Pandora Media news, insider Christopher Douglas Martin sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $9.91, for a total transaction of $29,730.00. Following the sale, the insider now directly owns 272,569 shares of the company’s stock, valued at approximately $2,701,158.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael S. Herring sold 11,730 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.38, for a total transaction of $110,027.40. Following the completion of the transaction, the president now directly owns 548,230 shares in the company, valued at $5,142,397.40. The disclosure for this sale can be found here. Insiders have sold a total of 43,642 shares of company stock valued at $411,284 in the last quarter. Insiders own 2.59% of the company’s stock.
Pandora Media Company Profile
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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