Brokerages Expect Party City Holdco Inc (NYSE:PRTY) to Announce $0.01 EPS

Wall Street analysts expect that Party City Holdco Inc (NYSE:PRTY) will announce earnings per share (EPS) of $0.01 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Party City Holdco’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.06. Party City Holdco posted earnings per share of $0.08 during the same quarter last year, which would indicate a negative year-over-year growth rate of 87.5%. The business is scheduled to report its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Party City Holdco will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from $1.25 to $1.33. For the next financial year, analysts forecast that the company will post earnings of $1.51 per share, with EPS estimates ranging from $1.37 to $1.67. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Party City Holdco.

Party City Holdco (NYSE:PRTY) last announced its earnings results on Thursday, August 8th. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.16). The company had revenue of $563.90 million for 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 firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share.

A number of brokerages have recently issued reports on PRTY. Goldman Sachs Group raised Party City Holdco from a “neutral” rating to a “buy” rating and cut their target price for the stock from $10.00 to $8.00 in a research report on Wednesday, July 24th. Bank of America set a $10.00 price objective on Party City Holdco and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley cut their price target on shares of Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Zacks Investment Research downgraded shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, ValuEngine raised shares of Party City Holdco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. 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 stock. The company has an average rating of “Hold” and an average price target of $10.92.

Shares of Party City Holdco stock opened at $6.60 on Friday. The stock’s fifty day moving average is $5.77 and its 200-day moving average is $6.66. The firm has a market capitalization of $614.79 million, a PE ratio of 4.15, a price-to-earnings-growth ratio of 0.34 and a beta of 1.41. The company has a quick ratio of 0.30, a current ratio of 1.23 and a debt-to-equity ratio of 2.21. Party City Holdco has a 12-month low of $4.07 and a 12-month high of $12.37.

In other Party City Holdco news, CEO James M. Harrison bought 125,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $4.53 per share, with a total value of $566,250.00. Following the purchase, the chief executive officer now directly owns 114,074 shares in the company, valued at approximately $516,755.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael A. Correale bought 24,300 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $4.13 per share, for a total transaction of $100,359.00. Following the purchase, the chief financial officer now owns 114,481 shares in the company, valued at $472,806.53. The disclosure for this purchase can be found here. Insiders acquired 153,855 shares of company stock worth $686,514 in the last 90 days. Corporate insiders own 6.47% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PRTY. Bank of Montreal Can acquired a new position in shares of Party City Holdco during the 2nd quarter valued at about $42,000. Parallax Volatility Advisers L.P. acquired a new position in shares of Party City Holdco during the 2nd quarter valued at about $62,000. Marshall Wace North America L.P. boosted its position in shares of Party City Holdco by 20.3% during the 1st quarter. Marshall Wace North America L.P. now owns 12,865 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 2,174 shares during the last quarter. Resources Investment Advisors LLC. acquired a new position in shares of Party City Holdco during the 2nd quarter valued at about $110,000. Finally, Commonwealth Bank of Australia boosted its position in shares of Party City Holdco by 62.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 15,600 shares of the specialty retailer’s stock valued at $114,000 after acquiring an additional 6,000 shares during the last quarter.

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, novelties, gifts, and stationery.

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