Brokerages expect Party City Holdco Inc (NYSE:PRTY) to report earnings per share of $1.18 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Party City Holdco’s earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.20. Party City Holdco reported earnings per share of $0.81 during the same quarter last year, which indicates a positive year-over-year growth rate of 45.7%. The company is expected to issue its next earnings results on Friday, March 8th.
According to Zacks, analysts expect that Party City Holdco will report full year earnings of $1.79 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.85. For the next financial year, analysts forecast that the business will post earnings of $2.00 per share, with EPS estimates ranging from $1.95 to $2.09. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Party City Holdco.
Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, November 8th. The specialty retailer reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The business had revenue of $553.00 million for the quarter, compared to the consensus estimate of $591.77 million. During the same period in the prior year, the business posted $0.13 EPS. Party City Holdco’s revenue for the quarter was down 1.3% on a year-over-year basis.
PRTY has been the topic of several recent research reports. ValuEngine lowered shares of Party City Holdco from a “sell” rating to a “strong sell” rating in a report on Monday, October 29th. Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Deutsche Bank set a $12.00 target price on shares of Party City Holdco and gave the company a “buy” rating in a report on Friday. Morgan Stanley reduced their target price on shares of Party City Holdco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, October 11th. Finally, Barclays raised shares of Party City Holdco from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Party City Holdco currently has an average rating of “Buy” and a consensus price target of $17.33.
Shares of PRTY stock traded up $0.06 on Friday, hitting $10.06. 4,667,084 shares of the company’s stock traded hands, compared to its average volume of 1,142,276. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 1.27. Party City Holdco has a one year low of $8.24 and a one year high of $16.95. The firm has a market cap of $980.21 million, a P/E ratio of 8.38, a P/E/G ratio of 0.26 and a beta of 2.19.
In other Party City Holdco news, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total value of $155,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $14.08, for a total transaction of $704,000.00. Following the completion of the sale, the director now directly owns 3,800 shares in the company, valued at approximately $53,504. The disclosure for this sale can be found here. 6.47% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in PRTY. Royal Bank of Canada boosted its stake in shares of Party City Holdco by 300.1% during the 1st quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 4,916 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Party City Holdco by 20.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the specialty retailer’s stock valued at $456,000 after purchasing an additional 5,008 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Party City Holdco by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 42,407 shares of the specialty retailer’s stock valued at $646,000 after purchasing an additional 5,808 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Party City Holdco by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 45,907 shares of the specialty retailer’s stock valued at $623,000 after purchasing an additional 5,941 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Party City Holdco by 26.3% during the 1st quarter. Wells Fargo & Company MN now owns 33,039 shares of the specialty retailer’s stock valued at $516,000 after purchasing an additional 6,878 shares in the last quarter.
About Party City Holdco
Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories and novelties, stationery, and decorations.
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