Pandora Media Inc (P) Expected to Post Quarterly Sales of $448.62 Million

Equities analysts predict that Pandora Media Inc (NYSE:P) will announce sales of $448.62 million for the current quarter, Zacks reports. Twelve analysts have issued estimates for Pandora Media’s earnings, with estimates ranging from $432.77 million to $462.50 million. Pandora Media reported sales of $395.34 million during the same quarter last year, which indicates a positive year over year growth rate of 13.5%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Pandora Media will report full year sales of $1.56 billion for the current financial year, with estimates ranging from $1.52 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.77 billion, with estimates ranging from $1.68 billion to $1.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Pandora Media.

Pandora Media (NYSE:P) last announced its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. The business had revenue of $417.63 million for the quarter, compared to the consensus estimate of $400.69 million. Pandora Media had a negative return on equity of 330.21% and a negative net margin of 23.85%. Pandora Media’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS.

P has been the topic of a number of recent analyst reports. ValuEngine upgraded Pandora Media from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded Pandora Media from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research report on Saturday, August 4th. Needham & Company LLC increased their target price on Pandora Media from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, September 12th. Canaccord Genuity set a $11.00 target price on Pandora Media and gave the company a “buy” rating in a research report on Sunday, September 23rd. Finally, William Blair lowered Pandora Media from an “outperform” rating to a “market perform” rating in a research report on Monday, September 24th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Pandora Media has an average rating of “Hold” and an average target price of $8.23.

In other news, General Counsel Stephen G. Bene sold 9,729 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $8.90, for a total value of $86,588.10. Following the transaction, the general counsel now directly owns 567,304 shares in the company, valued at approximately $5,049,005.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Karen Sammis Walker sold 3,026 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $8.90, for a total value of $26,931.40. Following the completion of the transaction, the chief accounting officer now owns 143,580 shares in the company, valued at $1,277,862. The disclosure for this sale can be found here. Insiders have sold 280,711 shares of company stock worth $2,480,205 over the last quarter. 2.59% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its holdings in shares of Pandora Media by 84.4% in the 3rd quarter. Clearbridge Investments LLC now owns 347,740 shares of the Internet radio service’s stock worth $3,307,000 after purchasing an additional 159,210 shares during the period. Vanguard Group Inc. grew its stake in shares of Pandora Media by 7.7% in the third quarter. Vanguard Group Inc. now owns 23,315,363 shares of the Internet radio service’s stock valued at $221,729,000 after buying an additional 1,674,105 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Pandora Media by 20.4% in the third quarter. Legal & General Group Plc now owns 100,448 shares of the Internet radio service’s stock valued at $955,000 after buying an additional 17,026 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Pandora Media by 51.4% in the third quarter. MetLife Investment Advisors LLC now owns 177,999 shares of the Internet radio service’s stock valued at $1,693,000 after buying an additional 60,440 shares in the last quarter. Finally, Castleark Management LLC grew its stake in shares of Pandora Media by 52.9% in the third quarter. Castleark Management LLC now owns 990,200 shares of the Internet radio service’s stock valued at $9,417,000 after buying an additional 342,580 shares in the last quarter.

Shares of NYSE P traded down $0.18 during midday trading on Friday, reaching $8.69. 10,054,910 shares of the stock were exchanged, compared to its average volume of 6,579,079. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -7.01 and a beta of -0.42. Pandora Media has a twelve month low of $4.09 and a twelve month high of $10.07. The company has a debt-to-equity ratio of 4.85, a current ratio of 2.51 and a quick ratio of 2.51.

Pandora Media Company Profile

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora—Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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Earnings History and Estimates for Pandora Media (NYSE:P)

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