Pandora Media, Inc. (P) Expected to Post Earnings of -$0.07 Per Share
Brokerages forecast that Pandora Media, Inc. (NYSE:P) will post ($0.07) earnings per share for the current quarter, according to Zacks. Ten analysts have made estimates for Pandora Media’s earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at ($0.02). Pandora Media also reported earnings of ($0.07) per share in the same quarter last year. The company is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Pandora Media will report full-year earnings of ($0.57) per share for the current year, with EPS estimates ranging from ($1.61) to ($0.38). For the next financial year, analysts expect that the firm will post earnings of ($0.18) per share, with EPS estimates ranging from ($0.48) to $0.67. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Pandora Media.
Pandora Media (NYSE:P) last issued its quarterly earnings data on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company had revenue of $376.83 million for the quarter, compared to the consensus estimate of $367.51 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year.
Several research analysts recently commented on P shares. Canaccord Genuity lowered their target price on Pandora Media from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, June 12th. Piper Jaffray Companies set a $18.00 target price on Pandora Media and gave the stock a “buy” rating in a research note on Saturday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Pandora Media in a research note on Monday, June 12th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $13.00 target price (down from $16.00) on shares of Pandora Media in a research note on Monday, June 12th. Finally, Bank of America Corporation reissued a “buy” rating and set a $12.00 target price on shares of Pandora Media in a research note on Tuesday, June 13th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Pandora Media has an average rating of “Hold” and a consensus target price of $11.76.
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In other Pandora Media news, insider Christopher W. Phillips sold 10,322 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $8.42, for a total transaction of $86,911.24. Following the sale, the insider now owns 423,872 shares in the company, valued at approximately $3,569,002.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO John Trimble sold 10,547 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $88,805.74. The disclosure for this sale can be found here. Insiders sold a total of 67,366 shares of company stock valued at $564,822 over the last ninety days. 2.59% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in P. Waldron LP acquired a new stake in Pandora Media during the 1st quarter valued at $167,000. Great West Life Assurance Co. Can grew its holdings in Pandora Media by 35.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 27,248 shares of the Internet radio service’s stock valued at $321,000 after buying an additional 7,100 shares during the last quarter. Swiss National Bank grew its holdings in Pandora Media by 1.2% during the 1st quarter. Swiss National Bank now owns 365,300 shares of the Internet radio service’s stock valued at $4,314,000 after buying an additional 4,500 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Pandora Media by 23.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 155,637 shares of the Internet radio service’s stock valued at $1,838,000 after buying an additional 29,487 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Pandora Media by 4.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 183,961 shares of the Internet radio service’s stock valued at $2,173,000 after buying an additional 8,143 shares during the last quarter.
Shares of Pandora Media (NYSE:P) opened at 7.95 on Thursday. Pandora Media has a 12 month low of $6.76 and a 12 month high of $14.70. The company’s 50-day moving average price is $8.22 and its 200-day moving average price is $9.26. The company’s market cap is $1.93 billion.
About Pandora Media
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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