Party City Holdco (PRTY) Announces Earnings Results

Party City Holdco (NYSE:PRTY) posted its earnings results on Thursday. The specialty retailer reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01, Bloomberg Earnings reports. The company had revenue of $561.00 million during the quarter, compared to analyst estimates of $560.95 million. Party City Holdco had a return on equity of 14.56% and a net margin of 9.11%. Party City Holdco’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Party City Holdco updated its FY18 guidance to $1.76-1.87 EPS.

Shares of Party City Holdco traded down $0.80, reaching $15.10, during trading hours on Friday, MarketBeat.com reports. 8,070,500 shares of the company’s stock were exchanged, compared to its average volume of 913,529. The company has a market cap of $1.50 billion, a PE ratio of 12.46, a PEG ratio of 0.40 and a beta of 2.11. The company has a current ratio of 1.27, a quick ratio of 0.38 and a debt-to-equity ratio of 1.57. Party City Holdco has a fifty-two week low of $9.50 and a fifty-two week high of $16.95.

In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 12,000,000 shares of the company’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $15.00, for a total transaction of $180,000,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gerald C. Rittenberg sold 196,457 shares of the company’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $16.00, for a total value of $3,143,312.00. Following the transaction, the director now directly owns 8,169 shares in the company, valued at $130,704. The disclosure for this sale can be found here. Corporate insiders own 6.47% of the company’s stock.

A number of analysts have weighed in on PRTY shares. ValuEngine lowered Party City Holdco from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. Bank of America upgraded Party City Holdco from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.50 to $20.00 in a report on Thursday, April 19th. TheStreet upgraded Party City Holdco from a “c” rating to a “b-” rating in a report on Monday, April 16th. Finally, Zacks Investment Research lowered Party City Holdco from a “hold” rating to a “sell” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.29.

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.

Further Reading: Understanding Stock Ratings

Earnings History for Party City Holdco (NYSE:PRTY)

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