Brokers Offer Predictions for Party City Holdco Inc.’s Q2 2023 Earnings (NYSE:PRTY)

Party City Holdco Inc. (NYSE:PRTYGet Rating) – Equities researchers at Telsey Advisory Group dropped their Q2 2023 earnings per share (EPS) estimates for Party City Holdco in a research report issued on Tuesday, November 8th. Telsey Advisory Group analyst J. Feldman now expects that the specialty retailer will post earnings of $0.08 per share for the quarter, down from their previous forecast of $0.16. Telsey Advisory Group has a “Market Perform” rating and a $1.25 price target on the stock. The consensus estimate for Party City Holdco’s current full-year earnings is $0.08 per share.

Separately, StockNews.com upgraded Party City Holdco from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd.

Party City Holdco Price Performance

Shares of NYSE:PRTY opened at $0.86 on Thursday. Party City Holdco has a one year low of $0.72 and a one year high of $7.02. The company has a debt-to-equity ratio of 6.12, a current ratio of 1.29 and a quick ratio of 0.46. The firm has a market capitalization of $97.18 million, a price-to-earnings ratio of -0.38 and a beta of 2.74. The company’s fifty day moving average price is $1.71 and its 200-day moving average price is $1.67.

Party City Holdco (NYSE:PRTYGet Rating) last posted its quarterly earnings data on Monday, August 8th. The specialty retailer reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. Party City Holdco had a net margin of 5.21% and a return on equity of 32.47%. The company had revenue of $527.45 million for the quarter, compared to analysts’ expectations of $529.40 million. During the same period in the prior year, the business earned $0.29 earnings per share.

Hedge Funds Weigh In On Party City Holdco

Several institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its position in Party City Holdco by 20.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 23,490 shares of the specialty retailer’s stock worth $71,000 after acquiring an additional 3,943 shares during the last quarter. Willis Johnson & Associates Inc. bought a new position in shares of Party City Holdco in the first quarter worth approximately $36,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Party City Holdco by 31.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,271 shares of the specialty retailer’s stock worth $162,000 after buying an additional 10,900 shares during the period. Rhumbline Advisers raised its holdings in Party City Holdco by 11.3% during the 1st quarter. Rhumbline Advisers now owns 112,982 shares of the specialty retailer’s stock valued at $404,000 after buying an additional 11,434 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in Party City Holdco during the 1st quarter valued at $40,000. Institutional investors own 71.06% of the company’s stock.

Party City Holdco Company Profile

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Party City Holdco, Inc engages in the supply of decorated party goods. It operates through the following segments: Wholesale and Retail. The Wholesale segment designs, manufactures, and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, and stationery throughout the world.

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

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