Party City Holdco (NYSE:PRTY) Announces Earnings Results

Party City Holdco (NYSE:PRTY) issued its earnings results on Thursday. The specialty retailer reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.29), Briefing.com reports. Party City Holdco had a net margin of 4.67% and a return on equity of 12.73%. The firm had revenue of $540.20 million during the quarter, compared to analysts’ expectations of $551.73 million. During the same quarter last year, the firm earned $0.08 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Party City Holdco updated its FY19 guidance to $0.84-$0.91 EPS.

Shares of PRTY traded up $0.34 during trading hours on Friday, hitting $2.34. 16,622,478 shares of the company were exchanged, compared to its average volume of 2,024,244. The company has a market cap of $566.62 million, a PE ratio of 1.47, a PEG ratio of 0.32 and a beta of 1.41. The firm’s 50 day moving average is $6.02 and its 200-day moving average is $6.43. Party City Holdco has a 52 week low of $1.98 and a 52 week high of $12.37. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.30 and a current ratio of 1.23.

PRTY has been the topic of a number of recent research reports. Bank of America set a $10.00 target price on Party City Holdco and gave the company a “buy” rating in a research note on Friday, August 23rd. ValuEngine upgraded Party City Holdco from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group downgraded Party City Holdco from a “buy” rating to a “neutral” rating in a research note on Friday. Morgan Stanley lowered their target price on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Finally, Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.13.

In related news, CEO James M. Harrison purchased 125,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $4.53 per share, for a total transaction of $566,250.00. Following the purchase, the chief executive officer now owns 114,074 shares in the company, valued at approximately $516,755.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael A. Correale purchased 24,300 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $4.13 per share, with a total value of $100,359.00. Following the purchase, the chief financial officer now owns 114,481 shares in the company, valued at approximately $472,806.53. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 153,855 shares of company stock valued at $686,514. 6.47% of the stock is currently owned by corporate insiders.

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, novelties, gifts, and stationery.

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Earnings History for Party City Holdco (NYSE:PRTY)

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