Analysts Expect Pandora Media, Inc. (P) Will Post Quarterly Sales of $375.28 Million
Equities analysts expect Pandora Media, Inc. (NYSE:P) to report sales of $375.28 million for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Pandora Media’s earnings. The highest sales estimate is $380.00 million and the lowest is $372.00 million. Pandora Media posted sales of $392.60 million in the same quarter last year, which suggests a negative year over year growth rate of 4.4%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Pandora Media will report full-year sales of $375.28 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.53 billion. For the next year, analysts expect that the firm will post sales of $1.59 billion per share, with estimates ranging from $1.47 billion to $1.89 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Pandora Media.
Pandora Media (NYSE:P) last released its quarterly earnings data on Thursday, November 2nd. The Internet radio service reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Pandora Media had a negative net margin of 39.49% and a negative return on equity of 74.78%. The firm had revenue of $378.60 million for the quarter, compared to analyst estimates of $380.54 million. During the same period last year, the firm earned ($0.07) earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year.
A number of research analysts have weighed in on P shares. Zacks Investment Research lowered shares of Pandora Media from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Stifel Nicolaus set a $12.00 price objective on shares of Pandora Media and gave the company a “buy” rating in a research note on Tuesday, October 31st. FBR & Co reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Pandora Media in a research note on Tuesday, October 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Pandora Media in a research note on Monday, October 30th. Finally, Wedbush set a $15.00 price objective on shares of Pandora Media and gave the company a “buy” rating in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Pandora Media has an average rating of “Hold” and a consensus price target of $11.11.
In related news, EVP David Gerbitz sold 30,000 shares of Pandora Media stock in a transaction on Friday, September 1st. The shares were sold at an average price of $8.34, for a total value of $250,200.00. Following the transaction, the executive vice president now directly owns 335,607 shares of the company’s stock, valued at $2,798,962.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.59% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of P. SG Americas Securities LLC increased its stake in shares of Pandora Media by 1,179.5% in the third quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock worth $34,696,000 after buying an additional 4,153,778 shares during the period. Marshall Wace North America L.P. increased its stake in shares of Pandora Media by 789.9% in the second quarter. Marshall Wace North America L.P. now owns 3,084,210 shares of the Internet radio service’s stock worth $27,758,000 after buying an additional 2,737,635 shares during the period. First Trust Advisors LP increased its stake in shares of Pandora Media by 51.9% in the second quarter. First Trust Advisors LP now owns 7,183,485 shares of the Internet radio service’s stock worth $64,077,000 after buying an additional 2,454,296 shares during the period. Nordea Investment Management AB purchased a new position in shares of Pandora Media in the second quarter worth $14,821,000. Finally, Locust Wood Capital Advisers LLC purchased a new position in shares of Pandora Media in the second quarter worth $12,574,000.
Pandora Media (NYSE P) traded down $0.01 during trading on Wednesday, hitting $5.14. 6,323,492 shares of the company’s stock were exchanged, compared to its average volume of 9,873,286. Pandora Media has a 12-month low of $4.44 and a 12-month high of $14.10. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18.
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About Pandora Media
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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