$811.70 Million in Sales Expected for Party City Holdco Inc (PRTY) This Quarter

Wall Street analysts expect that Party City Holdco Inc (NYSE:PRTY) will announce sales of $811.70 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Party City Holdco’s earnings. The lowest sales estimate is $798.62 million and the highest is $819.07 million. Party City Holdco reported sales of $789.58 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The business is scheduled to report its next earnings report on Friday, March 8th.

On average, analysts expect that Party City Holdco will report full year sales of $2.47 billion for the current fiscal year, with estimates ranging from $2.46 billion to $2.49 billion. For the next financial year, analysts forecast that the firm will report sales of $2.58 billion, with estimates ranging from $2.57 billion to $2.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Party City Holdco.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The company had revenue of $553.00 million for the quarter, compared to analysts’ expectations of $591.77 million. During the same period last year, the business earned $0.13 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year.

PRTY has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Friday, July 27th. ValuEngine lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. JPMorgan Chase & Co. set a $19.00 price objective on shares of Party City Holdco and gave the company a “buy” rating in a report on Monday, October 1st. Morgan Stanley cut their price objective on shares of Party City Holdco from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, October 11th. Finally, TheStreet lowered shares of Party City Holdco from a “b-” rating to a “c” rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. Party City Holdco currently has an average rating of “Buy” and an average target price of $17.33.

Shares of PRTY opened at $10.06 on Friday. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. Party City Holdco has a 1 year low of $8.24 and a 1 year high of $16.95. The company has a market cap of $966.70 million, a price-to-earnings ratio of 8.38, a P/E/G ratio of 0.25 and a beta of 2.19.

In related news, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total value of $155,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $14.08, for a total transaction of $704,000.00. Following the completion of the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at $53,504. The disclosure for this sale can be found here. Company insiders own 6.47% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Party City Holdco by 300.1% in the first quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 4,916 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Party City Holdco by 20.7% in the first quarter. The Manufacturers Life Insurance Company now owns 29,199 shares of the specialty retailer’s stock valued at $456,000 after purchasing an additional 5,008 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Party City Holdco by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 42,407 shares of the specialty retailer’s stock worth $646,000 after buying an additional 5,808 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Party City Holdco by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 45,907 shares of the specialty retailer’s stock worth $623,000 after buying an additional 5,941 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Party City Holdco by 26.3% in the first quarter. Wells Fargo & Company MN now owns 33,039 shares of the specialty retailer’s stock worth $516,000 after buying an additional 6,878 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 and novelties, stationery, and decorations.

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