Party City Holdco (NYSE:PRTY) Announces Earnings Results, Misses Expectations By $0.29 EPS

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

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

PRTY has been the topic of a number of research analyst reports. Goldman Sachs Group lowered Party City Holdco from a “buy” rating to a “neutral” rating in a research report on Friday. Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Bank of America set a $10.00 price target on Party City Holdco and gave the stock a “buy” rating in a research report on Friday, August 23rd. ValuEngine upgraded Party City Holdco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Telsey Advisory Group lowered Party City Holdco from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $9.00 to $2.50 in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.13.

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In other news, CFO Michael A. Correale acquired 24,300 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $4.13 per share, for a total transaction of $100,359.00. Following the transaction, the chief financial officer now owns 114,481 shares of the company’s stock, valued at $472,806.53. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James M. Harrison acquired 125,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $4.53 per share, for a total transaction of $566,250.00. Following the completion of the transaction, the chief executive officer now directly owns 114,074 shares in the company, valued at approximately $516,755.22. The disclosure for this purchase can be found here. Insiders acquired a total of 153,855 shares of company stock worth $686,514 over the last quarter. Corporate insiders own 6.47% of the company’s stock.

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, novelties, gifts, and stationery.

Further Reading: Cost of Debt

Earnings History for Party City Holdco (NYSE:PRTY)

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