$587.51 Million in Sales Expected for Party City Holdco Inc. (PRTY) This Quarter
Analysts expect Party City Holdco Inc. (NYSE:PRTY) to post $587.51 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Party City Holdco’s earnings, with estimates ranging from $583.60 million to $591.15 million. Party City Holdco reported sales of $556.95 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The business is scheduled to report its next earnings results on Thursday, November 9th.
On average, analysts expect that Party City Holdco will report full year sales of $587.51 million for the current financial year, with estimates ranging from $2.39 billion to $2.43 billion. For the next financial year, analysts expect that the firm will report sales of $2.49 billion per share, with estimates ranging from $2.48 billion to $2.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Party City Holdco.
Party City Holdco (NYSE:PRTY) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $545.59 million. Party City Holdco had a return on equity of 13.97% and a net margin of 4.97%. During the same period in the previous year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis.
PRTY has been the subject of a number of recent analyst reports. Zacks Investment Research cut Party City Holdco from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine downgraded Party City Holdco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, BidaskClub lowered Party City Holdco from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.75.
Party City Holdco (PRTY) traded down 0.74% during trading on Friday, hitting $13.45. The company had a trading volume of 737,582 shares. The stock has a 50-day moving average of $13.86 and a 200-day moving average of $14.76. The stock has a market capitalization of $1.61 billion, a PE ratio of 13.89 and a beta of 2.66. Party City Holdco has a one year low of $12.65 and a one year high of $18.33.
In other news, insider Ryan T. Vero acquired 2,921 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $13.70 per share, with a total value of $40,017.70. Following the completion of the transaction, the insider now directly owns 2,921 shares of the company’s stock, valued at approximately $40,017.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James M. Harrison acquired 65,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $14.50 per share, with a total value of $942,500.00. Following the transaction, the chief executive officer now directly owns 969 shares of the company’s stock, valued at $14,050.50. The disclosure for this purchase can be found here. 5.02% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Party City Holdco by 14.0% in the 1st 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. Parallax Volatility Advisers L.P. acquired a new position in shares of Party City Holdco in the 2nd quarter valued at approximately $127,000. Tudor Investment Corp ET AL acquired a new position in shares of Party City Holdco in the 1st quarter valued at approximately $170,000. Pacad Investment Ltd. lifted its holdings in shares of Party City Holdco by 6.1% during the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after acquiring an additional 700 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Party City Holdco during the 1st quarter worth approximately $171,000.
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About Party City Holdco
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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