Zacks: Brokerages Expect Pandora Media, Inc. (P) to Post -$0.06 EPS
Wall Street analysts predict that Pandora Media, Inc. (NYSE:P) will post ($0.06) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Pandora Media’s earnings. The lowest EPS estimate is ($0.12) and the highest is $0.00. Pandora Media posted earnings per share of ($0.07) in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The business is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Pandora Media will report full-year earnings of ($0.56) per share for the current year, with EPS estimates ranging from ($1.61) to ($0.29). For the next financial year, analysts expect that the business will post earnings of ($0.22) per share, with EPS estimates ranging from ($0.48) to $0.08. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Pandora Media.
Pandora Media (NYSE:P) last announced its quarterly earnings results on Monday, July 31st. The Internet radio service reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.08. Pandora Media had a negative return on equity of 58.81% and a negative net margin of 39.90%. The company had revenue of $376.83 million during the quarter, compared to analyst estimates of $367.51 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis.
Several research analysts have recently issued reports on P shares. Dougherty & Co restated a “neutral” rating on shares of Pandora Media in a research report on Monday, June 12th. Bank of America Corporation restated a “buy” rating and issued a $12.00 price target on shares of Pandora Media in a research report on Tuesday, June 13th. Wedbush lowered Pandora Media from a “neutral” rating to a “market perform” rating and set a $15.00 price target on the stock. in a research report on Monday, June 12th. Canaccord Genuity reduced their price target on Pandora Media from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, June 12th. Finally, MKM Partners restated a “neutral” rating and issued a $10.00 price target on shares of Pandora Media in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.07.
In related news, CRO John Trimble sold 10,547 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was 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 can be accessed through the SEC website. Also, General Counsel Stephen G. Bene sold 6,538 shares of the business’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 $55,049.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,366 shares of company stock valued at $564,822. Corporate insiders own 2.59% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Pandora Media by 24.5% in the second quarter. Public Employees Retirement System of Ohio now owns 69,741 shares of the Internet radio service’s stock valued at $622,000 after buying an additional 13,742 shares during the period. Highlander Capital Management LLC boosted its stake in shares of Pandora Media by 100.0% in the second quarter. Highlander Capital Management LLC now owns 26,000 shares of the Internet radio service’s stock valued at $228,000 after buying an additional 13,000 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Pandora Media by 68.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,270 shares of the Internet radio service’s stock valued at $377,000 after buying an additional 17,231 shares during the period. PineView Asset Management LP boosted its stake in shares of Pandora Media by 24.5% in the second quarter. PineView Asset Management LP now owns 1,324,024 shares of the Internet radio service’s stock valued at $11,810,000 after buying an additional 260,495 shares during the period. Finally, Alpine Global Management LLC bought a new stake in shares of Pandora Media in the second quarter valued at approximately $892,000.
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Shares of Pandora Media (P) traded up 1.59% on Friday, reaching $8.32. The company’s stock had a trading volume of 2,528,014 shares. The stock has a 50-day moving average of $8.35 and a 200 day moving average of $9.58. The stock’s market capitalization is $2.02 billion. Pandora Media has a 52 week low of $6.76 and a 52 week high of $14.94.
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.
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