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

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

PRTY stock traded up $0.34 during midday trading on Friday, hitting $2.34. The stock had a trading volume of 16,622,478 shares, compared to its average volume of 2,024,244. The firm has a market capitalization of $566.62 million, a price-to-earnings ratio of 1.47, a P/E/G ratio of 0.32 and a beta of 1.41. Party City Holdco has a 52 week low of $1.98 and a 52 week high of $12.37. The stock has a 50-day simple moving average of $6.02 and a 200 day simple 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.

In related news, CFO Michael A. Correale acquired 24,300 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $4.13 per share, for a total transaction of $100,359.00. Following the completion of the purchase, the chief financial officer now directly owns 114,481 shares of the company’s stock, valued at approximately $472,806.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James M. Harrison acquired 125,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $4.53 per share, with a total value of $566,250.00. Following the completion of the purchase, the chief executive officer now directly owns 114,074 shares of the company’s stock, valued at $516,755.22. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 153,855 shares of company stock valued at $686,514. 6.47% of the stock is owned by company insiders.

Several research firms have recently weighed in on PRTY. Zacks Investment Research raised Party City Holdco from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. ValuEngine raised Party City Holdco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Telsey Advisory Group cut Party City Holdco from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $9.00 to $2.50 in a research report on Friday. Bank of America set a $10.00 target price on Party City Holdco and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley reduced their target price on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. One equities research 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.

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, novelties, gifts, and stationery.

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Earnings History for Party City Holdco (NYSE:PRTY)

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