Party City Holdco (NYSE:PRTY) Updates FY 2019 Earnings Guidance

Party City Holdco (NYSE:PRTY) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.26-1.36 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.65. The company issued revenue guidance of $2.4-2.45 billion, compared to the consensus revenue estimate of $2.48 billion.Party City Holdco also updated its FY19 guidance to $1.26-$1.36 EPS.

Shares of NYSE:PRTY traded up $0.09 during trading on Friday, reaching $4.74. The company had a trading volume of 3,819,195 shares, compared to its average volume of 2,359,006. Party City Holdco has a twelve month low of $4.41 and a twelve month high of $15.75. The firm has a market cap of $436.12 million, a price-to-earnings ratio of 3.35, a PEG ratio of 0.24 and a beta of 1.30. The business’s fifty day moving average is $6.48. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.16 and a quick ratio of 0.28.

Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, August 8th. The specialty retailer reported $0.22 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.16). Party City Holdco had a net margin of 4.67% and a return on equity of 12.88%. The business had revenue of $563.90 million for the quarter, compared to analyst estimates of $572.14 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts forecast that Party City Holdco will post 1.7 EPS for the current year.

Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Party City Holdco from a hold rating to a sell rating in a research note on Wednesday. Bank of America cut their target price on shares of Party City Holdco from $14.50 to $10.00 and set a buy rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their target price on shares of Party City Holdco from $11.00 to $8.00 and set a neutral rating for the company in a research note on Tuesday, July 9th. Finally, Goldman Sachs Group raised shares of Party City Holdco from a neutral rating to a buy rating and cut their target price for the company from $10.00 to $8.00 in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Party City Holdco presently has an average rating of Hold and an average target price of $12.03.

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.

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Earnings History and Estimates for Party City Holdco (NYSE:PRTY)

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