Zacks: Brokerages Anticipate Party City Holdco Inc. (PRTY) Will Announce Quarterly Sales of $550.79 Million
Equities research analysts predict that Party City Holdco Inc. (NYSE:PRTY) will announce $550.79 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Party City Holdco’s earnings, with the lowest sales estimate coming in at $544.00 million and the highest estimate coming in at $558.02 million. Party City Holdco reported sales of $519.41 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The firm is expected to report its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Party City Holdco will report full year sales of $550.79 million for the current financial year, with estimates ranging from $2.38 billion to $2.44 billion. For the next financial year, analysts expect that the company will post sales of $2.49 billion per share, with estimates ranging from $2.47 billion to $2.50 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Party City Holdco.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Party City Holdco had a return on equity of 13.81% and a net margin of 4.92%. The business had revenue of $477 million during the quarter, compared to analyst estimates of $476.91 million. During the same period in the prior year, the company earned $0.04 earnings per share. Party City Holdco’s revenue was up 4.2% compared to the same quarter last year.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. Credit Suisse Group set a $19.00 price objective on Party City Holdco and gave the stock a “buy” rating in a research note on Monday, March 13th. BMO Capital Markets restated a “market perform” rating and issued a $16.00 price objective (down from $18.00) on shares of Party City Holdco in a research note on Wednesday, March 15th. TheStreet upgraded Party City Holdco from a “d+” rating to a “c-” rating in a research note on Tuesday, April 11th. Finally, BidaskClub lowered Party City Holdco from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.86.
Large investors have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Party City Holdco by 14.0% in the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 881 shares during the period. Highbridge Capital Management LLC raised its stake in Party City Holdco by 380.9% in the fourth quarter. Highbridge Capital Management LLC now owns 11,518 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 15,618 shares during the period. Tudor Investment Corp ET AL bought a new stake in Party City Holdco during the first quarter valued at approximately $170,000. Dynamic Technology Lab Private Ltd bought a new stake in Party City Holdco during the first quarter valued at approximately $171,000. Finally, PEAK6 Investments L.P. bought a new stake in Party City Holdco during the first quarter valued at approximately $194,000.
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Shares of Party City Holdco (NYSE PRTY) traded down 1.442% during trading on Friday, reaching $15.375. The company’s stock had a trading volume of 20,508 shares. Party City Holdco has a one year low of $12.48 and a one year high of $19.10. The firm’s 50-day moving average price is $15.91 and its 200-day moving average price is $14.98. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.304 and a beta of 2.76.
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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