Pandora Media, Inc. (NYSE:P) Issues Earnings Results, Beats Expectations By $0.08 EPS

Pandora Media, Inc. (NYSE:P) announced its earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.08, Morningstar.com reports. The business had revenue of $376.83 million during the quarter, compared to analyst estimates of $367.51 million. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. Pandora Media’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS.

Pandora Media (NYSE P) opened at 8.27 on Friday. Pandora Media has a 1-year low of $6.76 and a 1-year high of $14.98. The company has a 50-day moving average price of $8.89 and a 200-day moving average price of $10.31. The company’s market cap is $2.01 billion.

Several research firms have recently weighed in on P. B. Riley reissued a “buy” rating and issued a $15.00 price objective on shares of Pandora Media in a research report on Tuesday, May 9th. BMO Capital Markets lowered their price objective on Pandora Media from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $15.00 price objective (down from $16.00) on shares of Pandora Media in a research report on Tuesday, May 9th. Instinet lowered their price objective on Pandora Media from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Finally, Goldman Sachs Group, Inc. (The) lifted their price objective on Pandora Media from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.07.

TRADEMARK VIOLATION WARNING: “Pandora Media, Inc. (NYSE:P) Issues Earnings Results, Beats Expectations By $0.08 EPS” was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.com-unik.info/2017/08/19/pandora-media-inc-nysep-releases-earnings-results-beats-estimates-by-0-03-eps-updated-updated.html.

In other news, CRO John Trimble sold 10,547 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $8.42, for a total value of $88,805.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Douglas Martin sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $9.18, for a total transaction of $27,540.00. Following the completion of the sale, the insider now directly owns 257,921 shares of the company’s stock, valued at approximately $2,367,714.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,366 shares of company stock valued at $342,162. 2.59% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC boosted its stake in shares of Pandora Media by 54.1% in the first quarter. Stoneridge Investment Partners LLC now owns 89,225 shares of the Internet radio service’s stock valued at $1,054,000 after buying an additional 31,339 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Pandora Media during the first quarter valued at approximately $446,000. SLS Management LLC raised its position in Pandora Media by 46.0% in the first quarter. SLS Management LLC now owns 695,636 shares of the Internet radio service’s stock valued at $8,215,000 after buying an additional 219,250 shares during the period. Teachers Advisors LLC raised its position in Pandora Media by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 1,043,059 shares of the Internet radio service’s stock valued at $13,601,000 after buying an additional 41,279 shares during the period. Finally, Blair William & Co. IL raised its position in Pandora Media by 12.5% in the first quarter. Blair William & Co. IL now owns 112,955 shares of the Internet radio service’s stock valued at $1,340,000 after buying an additional 12,579 shares during the period.

Pandora Media Company Profile

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.

Earnings History for Pandora Media (NYSE:P)

What are top analysts saying about Pandora Media Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Pandora Media Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit