Party City Holdco (PRTY) Releases FY 2018 Earnings Guidance

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Party City Holdco (NYSE:PRTY) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.60-1.65 for the period, compared to the Thomson Reuters consensus estimate of $1.83. The company issued revenue guidance of $2.43-2.46 billion, compared to the consensus revenue estimate of $2.48 billion.Party City Holdco also updated its FY18 guidance to $1.60-1.65 EPS.

PRTY stock traded up $0.10 during mid-day trading on Friday, hitting $10.10. 143,551 shares of the stock were exchanged, compared to its average volume of 1,932,702. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54. Party City Holdco has a 12 month low of $8.24 and a 12 month high of $16.95. The firm has a market cap of $980.21 million, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 0.26 and a beta of 2.19.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Thursday, November 8th. 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). Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The firm had revenue of $553.00 million for the quarter, compared to the consensus estimate of $591.77 million. During the same period last year, the firm earned $0.13 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts expect that Party City Holdco will post 1.83 EPS for the current fiscal year.

Several research analysts have recently commented on PRTY shares. Zacks Investment Research downgraded Party City Holdco from a hold rating to a sell rating in a report on Friday, July 27th. ValuEngine downgraded Party City Holdco from a hold rating to a sell rating in a report on Wednesday, September 19th. JPMorgan Chase & Co. set a $19.00 price objective on Party City Holdco and gave the stock a buy rating in a report on Monday, October 1st. Morgan Stanley decreased their price objective on Party City Holdco from $16.00 to $15.00 and set an equal weight rating on the stock in a report on Thursday, October 11th. Finally, TheStreet downgraded Party City Holdco from a b- rating to a c rating in a report on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Party City Holdco currently has a consensus rating of Buy and a consensus price target of $17.50.

In other Party City Holdco news, Director Gerald C. Rittenberg sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 3,800 shares in the company, valued at approximately $53,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $15.50, for a total value of $155,000,000.00. The disclosure for this sale can be found here. 6.47% of the stock is owned by insiders.

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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 and novelties, stationery, and decorations.

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