$587.51 Million in Sales Expected for Party City Holdco Inc. (PRTY) This Quarter
Analysts expect that Party City Holdco Inc. (NYSE:PRTY) will report sales of $587.51 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Party City Holdco’s earnings. The highest sales estimate is $591.15 million and the lowest is $583.60 million. Party City Holdco posted sales of $556.95 million during the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The company is scheduled to announce its next earnings results on Thursday, November 9th.
On average, analysts expect that Party City Holdco will report full year sales of $587.51 million for the current year, with estimates ranging from $2.39 billion to $2.43 billion. For the next year, analysts expect that the firm will post sales of $2.49 billion per share, with estimates ranging from $2.48 billion to $2.50 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Party City Holdco.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. The firm had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $545.59 million. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share.
PRTY has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research downgraded shares of Party City Holdco from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. ValuEngine downgraded shares of Party City Holdco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price objective on shares of Party City Holdco and gave the stock a “hold” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $17.00.
Party City Holdco (NYSE PRTY) opened at 13.50 on Friday. Party City Holdco has a one year low of $12.65 and a one year high of $18.33. The company’s 50-day moving average is $14.12 and its 200-day moving average is $14.82. The firm has a market cap of $1.61 billion, a PE ratio of 13.95 and a beta of 2.69.
In related news, insider Ryan T. Vero acquired 2,921 shares of Party City Holdco stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $13.70 per share, with a total value of $40,017.70. Following the transaction, the insider now directly owns 2,921 shares in the company, valued at approximately $40,017.70. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Harrison acquired 65,000 shares of Party City Holdco stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $14.50 per share, with a total value of $942,500.00. Following the transaction, the chief executive officer now owns 969 shares in the company, valued at $14,050.50. The disclosure for this purchase can be found here. Company insiders own 5.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in PRTY. Monarch Partners Asset Management LLC acquired a new stake in shares of Party City Holdco during the 2nd quarter worth approximately $8,839,000. Victory Capital Management Inc. grew its position in shares of Party City Holdco by 15.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,222,061 shares of the specialty retailer’s stock worth $45,270,000 after buying an additional 430,797 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Party City Holdco during the 1st quarter worth approximately $3,623,000. Jennison Associates LLC grew its position in shares of Party City Holdco by 13.7% during the 2nd quarter. Jennison Associates LLC now owns 1,952,887 shares of the specialty retailer’s stock worth $30,563,000 after buying an additional 235,322 shares during the period. Finally, UBS Oconnor LLC acquired a new stake in shares of Party City Holdco during the 1st quarter worth approximately $3,028,000.
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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