Party City Holdco (PRTY) Issues Quarterly Earnings Results

Party City Holdco (NYSE:PRTY) announced its quarterly earnings results on Thursday. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09), MarketWatch Earnings reports. Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The business had revenue of $553.00 million during the quarter, compared to analyst estimates of $591.77 million. During the same quarter last year, the company posted $0.13 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. Party City Holdco updated its FY 2018 guidance to $1.60-1.65 EPS and its FY18 guidance to $1.60-1.65 EPS.

Shares of PRTY traded up $0.06 during trading hours on Friday, hitting $10.06. 4,667,084 shares of the stock were exchanged, compared to its average volume of 1,998,955. Party City Holdco has a fifty-two week low of $8.24 and a fifty-two week high of $16.95. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. The stock has a market cap of $966.70 million, a PE ratio of 8.38, a price-to-earnings-growth ratio of 0.25 and a beta of 2.19.

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

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

A number of hedge funds and other institutional investors have recently modified their holdings of PRTY. Royal Bank of Canada boosted its stake in Party City Holdco by 300.1% during the first quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 4,916 shares in the last quarter. Commonwealth Bank of Australia bought a new position in Party City Holdco during the third quarter worth $130,000. NumerixS Investment Technologies Inc bought a new position in Party City Holdco during the second quarter worth $183,000. BlueMountain Capital Management LLC bought a new position in Party City Holdco during the second quarter worth $203,000. Finally, California Public Employees Retirement System bought a new position in Party City Holdco during the second quarter worth $204,000.

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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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Earnings History for Party City Holdco (NYSE:PRTY)

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