Zacks: Brokerages Anticipate Party City Holdco Inc (NYSE:PRTY) Will Announce Earnings of $0.01 Per Share

Equities analysts expect Party City Holdco Inc (NYSE:PRTY) to post earnings per share of $0.01 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Party City Holdco’s earnings, with estimates ranging from ($0.03) to $0.06. Party City Holdco posted earnings of $0.08 per share during the same quarter last year, which would suggest a negative year over year growth rate of 87.5%. The company is scheduled to report its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Party City Holdco will report full year earnings of $1.38 per share for the current year, with EPS estimates ranging from $1.25 to $1.67. For the next financial year, analysts expect that the company will post earnings of $1.62 per share, with EPS estimates ranging from $1.45 to $1.90. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Party City Holdco.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.16). The firm had revenue of $563.90 million during the quarter, compared to analyst estimates of $572.14 million. Party City Holdco had a return on equity of 12.73% and a net margin of 4.67%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Party City Holdco from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Party City Holdco from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Goldman Sachs Group upgraded Party City Holdco from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $10.00 to $8.00 in a research report on Wednesday, July 24th. Morgan Stanley reduced their price objective on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Bank of America reduced their price objective on Party City Holdco from $14.50 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Party City Holdco currently has a consensus rating of “Hold” and a consensus price target of $10.92.

Shares of NYSE:PRTY traded up $0.50 during trading on Monday, reaching $4.71. The stock had a trading volume of 2,737,600 shares, compared to its average volume of 2,732,337. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.28 and a current ratio of 1.23. The business has a fifty day moving average price of $6.14 and a 200-day moving average price of $7.99. The stock has a market cap of $401.36 million, a PE ratio of 2.96, a PEG ratio of 0.22 and a beta of 1.30. Party City Holdco has a 1-year low of $4.07 and a 1-year high of $15.75.

In other Party City Holdco news, CFO Michael A. Correale bought 24,300 shares of Party City Holdco stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $4.13 per share, for a total transaction of $100,359.00. Following the completion of the transaction, the chief financial officer now directly owns 114,481 shares of the company’s stock, valued at $472,806.53. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James M. Harrison bought 125,000 shares of Party City Holdco stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $4.53 per share, for a total transaction of $566,250.00. Following the transaction, the chief executive officer now directly owns 114,074 shares of the company’s stock, valued at $516,755.22. The disclosure for this purchase can be found here. Company insiders own 6.47% of the company’s stock.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Party City Holdco by 7.4% during the fourth quarter. Bank of New York Mellon Corp now owns 543,122 shares of the specialty retailer’s stock valued at $5,420,000 after buying an additional 37,650 shares during the period. Dimensional Fund Advisors LP grew its position in Party City Holdco by 109.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,143,957 shares of the specialty retailer’s stock valued at $11,418,000 after buying an additional 598,657 shares during the period. Geode Capital Management LLC grew its position in Party City Holdco by 19.3% during the fourth quarter. Geode Capital Management LLC now owns 590,834 shares of the specialty retailer’s stock valued at $5,895,000 after buying an additional 95,645 shares during the period. Metropolitan Life Insurance Co. NY grew its position in Party City Holdco by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,685 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 14,593 shares during the period. Finally, Legal & General Group Plc grew its position in Party City Holdco by 14.7% during the fourth quarter. Legal & General Group Plc now owns 9,991 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 1,284 shares during the period.

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, novelties, gifts, and stationery.

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Earnings History and Estimates for Party City Holdco (NYSE:PRTY)

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