Party City Holdco (PRTY) Releases FY18 Earnings Guidance

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Party City Holdco (NYSE:PRTY) updated its FY18 earnings guidance on Thursday. 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 FY 2018 guidance to $1.60-1.65 EPS.

A number of research analysts have recently issued reports on the company. Deutsche Bank set a $12.00 price objective on Party City Holdco and gave the company a buy rating in a research note on Friday. Telsey Advisory Group dropped their price objective on Party City Holdco from $19.00 to $15.00 and set an outperform rating on the stock in a research note on Friday. Barclays raised Party City Holdco from an equal weight rating to an overweight rating and set a $16.00 price objective on the stock in a research note on Friday. Zacks Investment Research downgraded Party City Holdco from a hold rating to a sell rating in a research note on Thursday, October 11th. Finally, ValuEngine downgraded Party City Holdco from a sell rating to a strong sell rating in a research note on Monday, October 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. Party City Holdco currently has an average rating of Buy and a consensus target price of $17.50.

PRTY stock traded down $0.01 during trading on Friday, reaching $10.00. 167,651 shares of the stock were exchanged, compared to its average volume of 1,932,702. Party City Holdco has a twelve month low of $8.24 and a twelve month high of $16.95. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.36 and a current ratio of 1.27. The company has a market cap of $980.21 million, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 0.26 and a beta of 2.19.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $591.77 million. During the same period last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts predict that Party City Holdco will post 1.83 earnings per share for the current year.

In other news, Director Gerald C. Rittenberg sold 50,000 shares of the stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $14.08, for a total value of $704,000.00. Following the completion of the sale, the director now directly owns 3,800 shares of the company’s stock, valued at $53,504. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the 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 currently owned by corporate insiders.

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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.

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