Party City Holdco (PRTY) Expected to Post Quarterly Sales of $569.37 Million

Wall Street analysts expect that Party City Holdco (NYSE:PRTY) will announce sales of $569.37 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Party City Holdco’s earnings, with the lowest sales estimate coming in at $563.37 million and the highest estimate coming in at $574.53 million. Party City Holdco reported sales of $544.88 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The company is expected to issue its next quarterly earnings results on Wednesday, August 1st.

On average, analysts expect that Party City Holdco will report full year sales of $2.48 billion for the current fiscal year, with estimates ranging from $2.46 billion to $2.49 billion. For the next year, analysts anticipate that the company will post sales of $2.58 billion per share, with estimates ranging from $2.58 billion to $2.60 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Party City Holdco.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Wednesday, May 9th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. Party City Holdco had a return on equity of 14.56% and a net margin of 9.11%. The firm had revenue of $507.82 million for the quarter, compared to analyst estimates of $502.94 million. During the same quarter last year, the company posted $0.05 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis.

A number of equities analysts recently issued reports on the company. JPMorgan Chase lowered Party City Holdco from an “overweight” rating to a “hold” rating and raised their price target for the stock from $16.00 to $17.00 in a report on Monday, March 19th. TheStreet raised Party City Holdco from a “c” rating to a “b-” rating in a report on Monday, April 16th. Zacks Investment Research lowered Party City Holdco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 14th. ValuEngine lowered Party City Holdco from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Bank of America raised Party City Holdco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.50 to $20.00 in a report on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.29.

In other Party City Holdco news, Director Gerald C. Rittenberg sold 239,000 shares of Party City Holdco stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $15.38, for a total value of $3,675,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 6.47% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PRTY. Schwab Charles Investment Management Inc. boosted its holdings in Party City Holdco by 5.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 102,992 shares of the specialty retailer’s stock valued at $1,396,000 after purchasing an additional 5,587 shares in the last quarter. Peregrine Capital Management LLC lifted its position in shares of Party City Holdco by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 1,421,147 shares of the specialty retailer’s stock valued at $19,825,000 after acquiring an additional 8,886 shares during the period. ZWJ Investment Counsel Inc. acquired a new stake in shares of Party City Holdco during the 4th quarter valued at approximately $167,000. Engineers Gate Manager LP acquired a new stake in shares of Party City Holdco during the 4th quarter valued at approximately $1,262,000. Finally, Swiss National Bank lifted its position in shares of Party City Holdco by 22.4% during the 4th quarter. Swiss National Bank now owns 60,100 shares of the specialty retailer’s stock valued at $838,000 after acquiring an additional 11,000 shares during the period.

NYSE PRTY opened at $15.35 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.38 and a current ratio of 1.27. Party City Holdco has a 52-week low of $15.50 and a 52-week high of $15.85. The stock has a market cap of $1.49 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.40 and a beta of 2.18.

Party City Holdco Company Profile

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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