Equities analysts expect Party City Holdco Inc. (NYSE:PRTY) to announce sales of $550.79 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Party City Holdco’s earnings, with the highest sales estimate coming in at $558.02 million and the lowest estimate coming in at $544.00 million. Party City Holdco reported sales of $519.41 million during the same quarter last year, which suggests a positive year over year growth rate of 6%. The company is expected to issue its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Party City Holdco will report full-year sales of $550.79 million for the current financial year, with estimates ranging from $2.38 billion to $2.44 billion. For the next financial year, analysts anticipate that the business will post sales of $2.49 billion per share, with estimates ranging from $2.47 billion to $2.50 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Party City Holdco.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $477 million during the quarter, compared to the consensus estimate of $476.91 million. During the same quarter last year, the company earned $0.04 earnings per share. Party City Holdco’s revenue for the quarter was up 4.2% on a year-over-year basis.
Several research firms recently weighed in on PRTY. BidaskClub lowered Party City Holdco from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research lowered Party City Holdco from a “buy” rating to a “hold” rating in a report on Saturday, May 13th. TheStreet upgraded Party City Holdco from a “d+” rating to a “c-” rating in a report on Tuesday, April 11th. BMO Capital Markets restated 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. Finally, Credit Suisse Group set a $19.00 target price on Party City Holdco and gave the stock a “buy” rating in a report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.86.
Shares of Party City Holdco (PRTY) traded down 1.442% during mid-day trading on Friday, reaching $15.375. 20,508 shares of the company’s stock traded hands. Party City Holdco has a 1-year low of $12.48 and a 1-year high of $19.10. The company has a market capitalization of $1.84 billion, a P/E ratio of 16.304 and a beta of 2.76. The firm has a 50-day moving average price of $15.91 and a 200-day moving average price of $14.98.
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Several hedge funds and other institutional investors have recently modified their holdings of PRTY. UBS Oconnor LLC acquired a new position in shares of Party City Holdco during the first quarter worth approximately $3,028,000. Tudor Investment Corp ET AL acquired a new position in shares of Party City Holdco during the first quarter worth approximately $170,000. PEAK6 Investments L.P. acquired a new position in shares of Party City Holdco during the first quarter worth approximately $194,000. Schwab Charles Investment Management Inc. raised its position in shares of Party City Holdco by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 96,797 shares of the specialty retailer’s stock worth $1,360,000 after buying an additional 5,472 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Party City Holdco by 227.4% in the first quarter. Renaissance Technologies LLC now owns 114,900 shares of the specialty retailer’s stock worth $1,614,000 after buying an additional 79,800 shares during the period.
Party City Holdco Company Profile
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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