Wall Street analysts predict that Party City Holdco Inc (NYSE:PRTY) will post sales of $569.37 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Party City Holdco’s earnings. The highest sales estimate is $574.53 million and the lowest is $563.37 million. Party City Holdco posted sales of $544.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Party City Holdco will report full year sales of $2.48 billion for the current financial year, with estimates ranging from $2.46 billion to $2.49 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.58 billion per share, with estimates ranging from $2.58 billion to $2.60 billion. Zacks’ sales averages 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 released its quarterly earnings data on Wednesday, May 9th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The business had revenue of $507.82 million during the quarter, compared to analysts’ expectations of $502.94 million. Party City Holdco had a net margin of 9.11% and a return on equity of 14.56%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS.
Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets set a $20.00 price target on shares of Party City Holdco and gave the stock a “buy” rating in a research note on Monday, March 12th. TheStreet upgraded shares of Party City Holdco from a “c” rating to a “b-” rating in a research note on Monday, April 16th. Stephens reiterated a “buy” rating and set a $23.00 price target on shares of Party City Holdco in a research note on Tuesday, March 6th. Finally, Zacks Investment Research lowered shares of Party City Holdco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.29.
Shares of Party City Holdco traded down $0.13, hitting $15.87, during trading on Tuesday, Marketbeat Ratings reports. 34,814 shares of the stock were exchanged, compared to its average volume of 810,073. The stock has a market cap of $1.58 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.42 and a beta of 2.13. Party City Holdco has a 12-month low of $9.50 and a 12-month high of $16.90. The company has a current ratio of 1.27, a quick ratio of 0.38 and a debt-to-equity ratio of 1.57.
In other Party City Holdco news, major shareholder H. Lee Equity Fund Vi Thomas sold 12,000,000 shares of Party City Holdco stock in a transaction on Friday, May 18th. The shares were sold at an average price of $15.00, for a total value of $180,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.47% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in Party City Holdco by 53.7% in the fourth quarter. First Trust Advisors LP now owns 159,574 shares of the specialty retailer’s stock valued at $2,226,000 after purchasing an additional 55,773 shares during the period. Monashee Investment Management LLC acquired a new position in Party City Holdco in the fourth quarter valued at $698,000. Jefferies Group LLC acquired a new position in Party City Holdco in the fourth quarter valued at $229,000. Stone Ridge Asset Management LLC acquired a new position in Party City Holdco in the fourth quarter valued at $168,000. Finally, Bank of New York Mellon Corp increased its stake in Party City Holdco by 41.7% in the fourth quarter. Bank of New York Mellon Corp now owns 268,116 shares of the specialty retailer’s stock valued at $3,740,000 after purchasing an additional 78,870 shares during the period.
About Party City Holdco
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.
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