35 days have passed by since the last earnings report for Party City Holdco Inc. (NYSE:PRTY) and the new quarterly results look set to arrive in 56 days. The shares of PRTY at the moment are trading at a volume of 2.88 million, which compares with its normal daily standard volume of 2085129 shares. This has led to the shares of the company advancing by 6.32%, currently exchanging hands at $6.39 a share. PRTY stock has been up by $9.21 (-59.3%) ever since it reached its 52-week high of $15.6 back in September 13, 2018. It has progressed above its 50-day moving average of $5.23 and is up 36.54% over the past week. The stock has retreated -9% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the PRTY share price due for a breakout?
Party City Holdco Inc. (PRTY) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Thursday, Nov 07, 2019, 8 analysts who are covering the company are estimating that it will record a profit of $0.01 per share, with analysts having different outlooks from -$0.06 to $0.06. The current agreed outlook, when compared to the profit recorded last year, is at $0.08 a share, thus a decrease of -87.5% is expected. The profit view for a complete financial year for Party City Holdco Inc. is expected to be around $1.29 in current year, a growth of nearly -19.88% from last year which was $1.61.
Analyzing The Earnings History Of Party City Holdco Inc. (NYSE:PRTY)
In the past few years, the PRTY stock has been known to miss the Wall Street’s earnings projection. The company missed 33% of the time, according to the data pulled on their earnings, was able to meet predictions on 4 occasions and topped expectations 4 times. Looking at the past trend, the price of Party City Holdco Inc. shares had risen following the release of their earnings in 11 of the last 17 quarters.
Looking back, here is how Party City Holdco Inc. (PRTY) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 3 of the last four earnings reports. The shares of Party City Holdco Inc. recorded -18.28%, 10.88%, -15.43% and -0.2%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -25.31%, 12.67%, -26.48% and 14.47%. Their post-earnings price movements have resulted in an average decrease of -5.76% and an average decrease of -6.16% in Party City Holdco Inc. on next day and 7th day, sequentially. PRTY’s one month stock performance led to its shares rising by 46.22% with a return of -58.1% witnessed over the last 52 weeks.
Party City Holdco Inc. (PRTY) Post Earnings Announcement Drift (PEAD)
Back on August 08, 2019, Party City Holdco Inc. (NYSE:PRTY) released its Q2 results, in which it recorded EPS of $0.22 that fell short of consensus estimates of $0.36. After the earnings were reported, the price of PRTY stock kicked off the session at $4.41 and remained in a range of $4.95 to $5.1 on the first day. The shares were priced at $4.65 at the close with a total volume of shares being 7097936.
On May 09, 2019, the Q1 earnings report was disclosed with EPS of $0.01. This was same as the estimation of $0.01 per share. The stock price range of PRTY was between $8.41 and $8.48 on the first-day post announcement, after opening the day at $7.9. The session came to close at $8.05 and there was a total volume of 5221647 shares.
February 28, 2019 was the day when its Q4 results were unveiled. The earnings came in at $1.08, missing the projected $1.09 per share. The very next day, PRTY stock opened at $10.19 while staying in a range of $10.81 to $11.25. At the end, it moved to $10.41 a total volume of shares been 4412748.
In the year-ago Q3 earnings on November 08, 2018, the company saw profit per share of $0.08. That was worse than the $0.18 analysts had expected. Party City Holdco Inc. share price started at $8.24 on the first full trading day post-earning and then exchanged hands between $9.15 and $10.25 throughout the session. The closing price of $10 came on the back of 6496611 shares in volume.