Zacks: Analysts Anticipate Party City Holdco Inc (PRTY) Will Announce Earnings of $1.09 Per Share

Brokerages expect Party City Holdco Inc (NYSE:PRTY) to announce earnings of $1.09 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Party City Holdco’s earnings. The lowest EPS estimate is $1.07 and the highest is $1.11. Party City Holdco posted earnings per share of $0.81 in the same quarter last year, which would indicate a positive year over year growth rate of 34.6%. The company is scheduled to issue its next quarterly earnings results on Friday, March 8th.

According to Zacks, analysts expect that Party City Holdco will report full-year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.60 to $1.85. For the next fiscal year, analysts anticipate that the business will post earnings of $1.88 per share, with EPS estimates ranging from $1.80 to $2.06. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Party City Holdco.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). Party City Holdco had a return on equity of 14.86% and a net margin of 8.70%. The business had revenue of $553.00 million for the quarter, compared to analysts’ expectations of $591.77 million. During the same period in the previous year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis.

Several research analysts have commented on PRTY shares. Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 14th. ValuEngine lowered shares of Party City Holdco from a “sell” rating to a “strong sell” rating in a research report on Monday, October 29th. Deutsche Bank set a $12.00 price objective on shares of Party City Holdco and gave the company a “buy” rating in a research report on Friday, November 9th. Morgan Stanley cut their price objective on shares of Party City Holdco from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research 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 price objective on the stock in a research report on Friday, November 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Party City Holdco presently has a consensus rating of “Buy” and an average target price of $17.33.

Shares of PRTY traded up $0.12 during midday trading on Friday, hitting $11.95. The stock had a trading volume of 1,788,542 shares, compared to its average volume of 2,488,490. Party City Holdco has a fifty-two week low of $8.24 and a fifty-two week high of $16.95. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.37 and a beta of 2.19. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.30 and a quick ratio of 0.36.

In related news, insider Michael Peter Harrison purchased 4,900 shares of the stock in a transaction on Monday, November 12th. The shares were bought at an average price of $10.37 per share, for a total transaction of $50,813.00. Following the completion of the acquisition, the insider now directly owns 13,884 shares in the company, valued at approximately $143,977.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James M. Harrison acquired 50,000 shares of the stock in a transaction dated Monday, November 12th. The stock was bought at an average price of $10.09 per share, for a total transaction of $504,500.00. Following the purchase, the chief executive officer now owns 97,054 shares of the company’s stock, valued at approximately $979,274.86. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 106,600 shares of company stock worth $1,115,078. Corporate insiders own 6.47% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Party City Holdco by 300.1% during the first quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock worth $101,000 after buying an additional 4,916 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Party City Holdco by 13.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 194,711 shares of the specialty retailer’s stock valued at $2,970,000 after purchasing an additional 23,320 shares during the last quarter. Raymond James & Associates bought a new position in Party City Holdco in the second quarter valued at about $476,000. Spark Investment Management LLC bought a new position in Party City Holdco in the second quarter valued at about $1,659,000. Finally, Hodges Capital Management Inc. raised its position in Party City Holdco by 9.3% in the third quarter. Hodges Capital Management Inc. now owns 646,695 shares of the specialty retailer’s stock valued at $8,763,000 after purchasing an additional 55,050 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

Party City Holdco Company Profile

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.

See Also: Technical Analysis

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