Party City Holdco Inc. (PRTY) Expected to Post Earnings of $0.26 Per Share
Equities analysts expect that Party City Holdco Inc. (NYSE:PRTY) will report $0.26 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Party City Holdco’s earnings, with estimates ranging from $0.25 to $0.27. Party City Holdco reported earnings of $0.23 per share during the same quarter last year, which indicates a positive year over year growth rate of 13%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Party City Holdco will report full year earnings of $1.24 per share for the current year, with EPS estimates ranging from $1.23 to $1.25. For the next year, analysts expect that the company will report earnings of $1.42 per share, with EPS estimates ranging from $1.38 to $1.45. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Party City Holdco.
Party City Holdco (NYSE:PRTY) last announced its earnings results on Tuesday, May 9th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Party City Holdco had a net margin of 4.92% and a return on equity of 13.81%. The business had revenue of $477 million during the quarter, compared to analyst estimates of $476.91 million. During the same period in the previous year, the business posted $0.04 earnings per share. Party City Holdco’s revenue for the quarter was up 4.2% on a year-over-year basis.
PRTY has been the subject of a number of recent research reports. BMO Capital Markets reissued a “market perform” rating and issued a $16.00 target price (down from $18.00) on shares of Party City Holdco in a report on Wednesday, March 15th. Zacks Investment Research lowered shares of Party City Holdco from a “buy” rating to a “hold” rating in a report on Saturday, May 13th. BidaskClub lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Saturday. Credit Suisse Group set a $19.00 target price on shares of Party City Holdco and gave the company a “buy” rating in a report on Monday, March 13th. Finally, TheStreet raised shares of Party City Holdco from a “d+” rating to a “c-” rating in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.86.
Shares of Party City Holdco (NYSE PRTY) traded down 3.16% during midday trading on Thursday, hitting $15.30. 528,809 shares of the stock were exchanged. The firm has a market cap of $1.83 billion, a PE ratio of 16.22 and a beta of 2.76. Party City Holdco has a 52-week low of $12.50 and a 52-week high of $19.10. The firm’s 50-day moving average is $15.92 and its 200 day moving average is $15.00.
Several hedge funds have recently added to or reduced their stakes in PRTY. State Street Corp increased its stake in Party City Holdco by 4.8% in the fourth quarter. State Street Corp now owns 449,574 shares of the specialty retailer’s stock valued at $6,383,000 after buying an additional 20,548 shares during the period. Dimensional Fund Advisors LP increased its stake in Party City Holdco by 287.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 445,995 shares of the specialty retailer’s stock valued at $6,333,000 after buying an additional 330,996 shares during the period. Federated Investors Inc. PA increased its stake in Party City Holdco by 14.8% in the fourth quarter. Federated Investors Inc. PA now owns 259,544 shares of the specialty retailer’s stock valued at $3,685,000 after buying an additional 33,445 shares during the period. Keybank National Association OH increased its stake in Party City Holdco by 45.9% in the fourth quarter. Keybank National Association OH now owns 77,780 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 24,480 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Party City Holdco during the fourth quarter valued at $211,000.
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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