Party City Holdco Inc (PRTY) Expected to Post Quarterly Sales of $777.48 Million

Wall Street brokerages expect that Party City Holdco Inc (NYSE:PRTY) will post $777.48 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Party City Holdco’s earnings. The highest sales estimate is $792.69 million and the lowest is $757.66 million. Party City Holdco posted sales of $749.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The firm is expected to issue its next earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Party City Holdco will report full year sales of $777.48 million for the current year, with estimates ranging from $2.34 billion to $2.37 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.46 billion per share, with estimates ranging from $2.41 billion to $2.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Party City Holdco.

Party City Holdco (NYSE:PRTY) last posted its earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $560.11 million during the quarter, compared to the consensus estimate of $587.74 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share.

PRTY has been the subject of a number of research reports. ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. BMO Capital Markets set a $18.00 price objective on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley decreased their price objective on shares of Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Party City Holdco from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Bank of America 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, December 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Party City Holdco has an average rating of “Hold” and a consensus price target of $16.43.

Party City Holdco (NYSE:PRTY) opened at $14.40 on Friday. The stock has a market cap of $1,720.00 and a price-to-earnings ratio of 15.00. Party City Holdco has a 1 year low of $9.50 and a 1 year high of $17.05. The company has a current ratio of 1.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.43.

Party City Holdco declared that its Board of Directors has authorized a share repurchase program on Thursday, November 9th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other news, major shareholder International Corp/Ma Advent sold 19,841,694 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $12.20, for a total transaction of $242,068,666.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Harrison bought 20,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $11.27 per share, with a total value of $225,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 22,642,979 shares of company stock valued at $277,826,948. Insiders own 5.02% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. purchased a new stake in shares of Party City Holdco during the fourth quarter worth about $167,000. Voya Investment Management LLC purchased a new stake in shares of Party City Holdco during the second quarter worth about $202,000. SG Americas Securities LLC purchased a new stake in shares of Party City Holdco during the third quarter worth about $176,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Party City Holdco during the third quarter worth about $327,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Party City Holdco during the third quarter worth about $333,000.

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Party City Holdco Company Profile

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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