Pandora Media Inc (P) Expected to Announce Quarterly Sales of $450.76 Million

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Brokerages forecast that Pandora Media Inc (NYSE:P) will announce $450.76 million in sales for the current quarter, Zacks reports. Nine analysts have made estimates for Pandora Media’s earnings. The lowest sales estimate is $432.77 million and the highest is $462.50 million. Pandora Media posted sales of $395.34 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Pandora Media will report full-year sales of $1.57 billion for the current financial year, with estimates ranging from $1.52 billion to $1.58 billion. For the next fiscal year, analysts expect that the company will post sales of $1.77 billion, with estimates ranging from $1.68 billion to $1.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Pandora Media.

Pandora Media (NYSE:P) last announced its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. The company had revenue of $417.63 million during the quarter, compared to analyst estimates of $400.69 million. Pandora Media had a negative net margin of 23.85% and a negative return on equity of 330.21%. Pandora Media’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Pandora Media from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, October 16th. Goldman Sachs Group cut shares of Pandora Media from a “buy” rating to a “neutral” rating and cut their target price for the company from $12.00 to $10.00 in a report on Wednesday, October 24th. Finally, Canaccord Genuity cut shares of Pandora Media from a “buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $9.00 in a report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.30.

In other Pandora Media news, CRO John Trimble sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $8.71, for a total transaction of $653,250.00. Following the sale, the executive now directly owns 620,916 shares in the company, valued at approximately $5,408,178.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Karen Sammis Walker sold 3,026 shares of the business’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $8.90, for a total transaction of $26,931.40. Following the sale, the chief accounting officer now owns 143,580 shares in the company, valued at $1,277,862. The disclosure for this sale can be found here. Insiders sold a total of 290,023 shares of company stock worth $2,564,106 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in shares of Pandora Media in the 3rd quarter worth about $26,211,000. Southpoint Capital Advisors LP boosted its position in shares of Pandora Media by 30.5% in the 3rd quarter. Southpoint Capital Advisors LP now owns 9,135,468 shares of the Internet radio service’s stock worth $86,878,000 after buying an additional 2,135,468 shares in the last quarter. Northern Trust Corp boosted its position in shares of Pandora Media by 153.2% in the 2nd quarter. Northern Trust Corp now owns 3,042,886 shares of the Internet radio service’s stock worth $23,977,000 after buying an additional 1,840,990 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Pandora Media by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 23,315,363 shares of the Internet radio service’s stock worth $221,729,000 after buying an additional 1,674,105 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Pandora Media by 7.7% in the 3rd quarter. Vanguard Group Inc now owns 23,315,363 shares of the Internet radio service’s stock worth $221,729,000 after buying an additional 1,674,105 shares in the last quarter. Institutional investors own 97.57% of the company’s stock.

NYSE P opened at $8.38 on Friday. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 4.85. Pandora Media has a one year low of $4.17 and a one year high of $10.07. The company has a market capitalization of $2.26 billion, a PE ratio of -6.76 and a beta of -0.28.

About Pandora Media

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

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