Party City Holdco Inc. (PRTY) Releases Earnings Results, Misses Expectations By $0.01 EPS
Party City Holdco Inc. (NYSE:PRTY) announced its quarterly earnings data on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. The firm earned $557 million during the quarter, compared to analysts’ expectations of $589.84 million. Party City Holdco had a return on equity of 14.94% and a net margin of 2.77%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share.
Party City Holdco (NYSE:PRTY) opened at 14.60 on Friday. The firm’s 50-day moving average is $16.59 and its 200 day moving average is $15.51. Party City Holdco has a 52-week low of $7.53 and a 52-week high of $19.10. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 162.22 and a beta of 3.11.
Several equities analysts recently weighed in on PRTY shares. BMO Capital Markets started coverage on shares of Party City Holdco in a research note on Wednesday, November 2nd. They set a “market perform” rating and a $18.00 target price for the company. Morgan Stanley reaffirmed a “hold” rating and set a $17.00 target price on shares of Party City Holdco in a research note on Friday, August 5th. Telsey Advisory Group raised their target price on shares of Party City Holdco from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. raised their target price on shares of Party City Holdco from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Saturday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Party City Holdco currently has a consensus rating of “Hold” and an average target price of $18.00.
Several institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. bought a new stake in shares of Party City Holdco during the first quarter valued at approximately $1,469,000. Bayesian Capital Management LP bought a new stake in shares of Party City Holdco during the first quarter valued at approximately $188,000. 1st Global Advisors Inc. raised its stake in shares of Party City Holdco by 10.6% in the second quarter. 1st Global Advisors Inc. now owns 16,139 shares of the company’s stock valued at $224,000 after buying an additional 1,544 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $1,005,000. Finally, FNY Managed Accounts LLC bought a new stake in shares of Party City Holdco during the second quarter valued at approximately $274,000. Hedge funds and other institutional investors own 95.72% of the company’s stock.
About Party City Holdco
Party City Holdco Inc is a party goods retailer and supplier of decorated party goods. The Company operates through two segments: Retail and Wholesale. The Wholesale segment designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world.
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