$0.13 Earnings Per Share Expected for Party City Holdco Inc. (PRTY) This Quarter
Equities research analysts forecast that Party City Holdco Inc. (NYSE:PRTY) will announce earnings per share (EPS) of $0.13 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Party City Holdco’s earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.14. Party City Holdco posted earnings of $0.12 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The firm is expected to issue its next earnings results before the market opens on Thursday, November 9th.
On average, analysts expect that Party City Holdco will report full-year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.26 to $1.27. For the next financial year, analysts anticipate that the company will post earnings of $1.41 per share, with EPS estimates ranging from $1.26 to $1.46. Zacks Investment Research’s earnings per share 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 posted its quarterly earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $545.59 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year.
Several research firms have commented on PRTY. BMO Capital Markets upgraded shares of Party City Holdco from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $11.20 to $16.00 in a report on Tuesday, October 24th. ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of Party City Holdco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Party City Holdco has a consensus rating of “Buy” and an average price target of $16.67.
Party City Holdco (NYSE PRTY) traded up $0.05 during midday trading on Friday, reaching $11.05. 785,336 shares of the company’s stock traded hands, compared to its average volume of 940,581. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.71 and a quick ratio of 0.49. Party City Holdco has a 1 year low of $10.75 and a 1 year high of $17.70. The company has a market capitalization of $1,320.81, a price-to-earnings ratio of 9.44, a P/E/G ratio of 0.85 and a beta of 2.54.
In other Party City Holdco news, insider Ryan T. Vero acquired 2,921 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $40,017.70. Following the acquisition, the insider now directly owns 2,921 shares in the company, valued at $40,017.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald C. Rittenberg sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $14.68, for a total transaction of $1,027,600.00. The disclosure for this sale can be found here. 5.02% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in shares of Party City Holdco by 14.0% during the 1st quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock worth $101,000 after buying an additional 881 shares during the period. Parallax Volatility Advisers L.P. acquired a new stake in shares of Party City Holdco during the 2nd quarter worth approximately $127,000. Tudor Investment Corp ET AL acquired a new stake in shares of Party City Holdco during the 1st quarter worth approximately $170,000. Pacad Investment Ltd. grew its position in shares of Party City Holdco by 6.1% during the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after buying an additional 700 shares during the period. Finally, Voya Investment Management LLC acquired a new stake in shares of Party City Holdco during the 2nd quarter worth approximately $202,000.
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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