|Bid||2.0500 x 4000|
|Ask||2.0600 x 2900|
|Day's Range||1.8800 - 2.0850|
|52 Week Range||1.5200 - 12.3700|
|Beta (3Y Monthly)||1.13|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 26, 2020 - Mar 2, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4.60|
Third quarter earnings season boosted U.S. stocks. Broad market indices reached all-time highs and kept gaining until a modest speed bump in recent sessions. But not every stock participated in the rally.Indeed, several well-known names stumbled badly after their third-quarter reports, including Home Depot (NYSE:HD) and Yum! Brands (NYSE:YUM). But the news was even worse for the biggest earnings losers in the third quarter. * 10 Best-Performing Growth Stocks of the 2010s These three stocks aren't necessarily the stocks that saw the biggest decline after earnings, though one of them is. But for all three companies, third-quarter earnings materially and negatively changed the long-term outlook. Intrepid investors may look to buy the dip -- but after these reports, significant caution is advised.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Party City (PRTY)Source: Shutterstock Among stocks with a market capitalization above $100 million, Party City (NYSE:PRTY) appears to have posted the largest post-earnings decline after Q3. PRTY stock fell a stunning 67% in a single session after posting a surprise loss and cutting its full-year outlook for the second time.There is an intriguing case to step into the decline. Party City stock looks ridiculously cheap at roughly 2x -- yes, just two times -- its earnings per share guidance for 2019. A helium shortage has limited Party City's sales, taking 210 basis points off same-store sales in the third quarter. Brick-and-mortar retail is a fraught business at the moment, but Party City does sell through Amazon (NASDAQ:AMZN) and e-commerce competition in its vertical would seem to be limited.Investors haven't bought the dip, however: PRTY stock actually is down another 12% from its post-earnings close. And there are significant risks. Most notably, Party City has a potentially dangerous debt load of just over $2 billion. That's more than 6x the company's guided Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) -- a dangerously high multiple.And that debt colors the story here. Retailer Michaels Companies (NASDAQ:MIK) too trades below 3x forward earnings -- with a lighter, if still risky, debt load. Investors have shown in recent years that they don't trust retailers in general, and particularly those with debt concerns. Party City has a long road ahead to change that opinion. Pinterest (PINS)Source: Nopparat Khokthong / Shutterstock.com Pinterest (NYSE:PINS) picked the wrong time to provide disappointing guidance. As growth stocks generally were struggling in late October, the company missed Wall Street estimates for revenue and gave a below-expected outlook.PINS stock already had declined heading into the report amid valuation concerns. It dropped another 17% after earnings, and the pressure has continued. Pinterest stock sits near its all-time low, and now trades below its initial public offering price of $19.Here, too, there's a case for stepping in, as Will Ashworth argued last month. Pinterest still is posting impressive revenue growth. Adjusted EBITDA turned positive in the quarter. Q3 results don't necessarily look disastrous, but rather closer to modestly disappointing.And there are echoes of Snap (NYSE:SNAP) in the report. Slower U.S. user growth is a concern, as it was for Snap not long after its IPO. International monetization disappointed in the early going for both companies. In the Q3 release, Pinterest's CEO cited a redesign of the site and app in the quarter, akin to what Snap did back in 2017. SNAP stock would fall below its IPO price and keep falling. * 7 Energy Stocks That Are Still Worth Buying In 2020 Of course, in retrospect it seems like Snap's redesign was the right move all along, and SNAP stock has been one of the market's best in 2019. The concern here is that even if history repeats itself, PINS story looks like a 2020 story at best, and a falling knife in the meantime. Dollar Tree (DLTR)Source: digitalreflections / Shutterstock.com Dollar Tree (NASDAQ:DLTR), too, picked the wrong time for disappointing guidance, but for different reasons. While weak earnings and soft guidance made Dollar Tree one of the biggest earnings losers from Q3, its rivals were posting impressive numbers.Indeed, Dollar General (NYSE:DG) just this week beat analyst expectations and raised full-year guidance. Walmart (NYSE:WMT) posted a strong quarter. So did Target (NYSE:TGT). It certainly looks like consumer spending on the low-to-middle end of the spectrum is strong. It also appears that Dollar Tree is losing share.In that context, a 15% sell-off to a 2019 low hardly seems surprising. And while DLTR stock has posted a modest rally in recent sessions, this doesn't look like a "buy the dip" scenario. As tough as retail is at the moment, it seems safest to stick with the winners. And, at least for now, Dollar Tree doesn't look like one of those winners.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Best-Performing Growth Stocks of the 2010s * 10 Stocks With Little or No Debt to Own for the Next 50 Years * 5 Restaurant Stocks Dominating Holiday Season Foot Traffic The post 3 Earnings Losers From Q3 Reports appeared first on InvestorPlace.
(Bloomberg) -- These should be celebratory times for Party City. The run-up to the trifecta of holidays -- Thanksgiving, Christmas and New Year’s -- is the most important period for the retailer of all things festive.But recent events have let the air out of the company’s balloon. The latest include a quarterly loss that punctured Party City Holdco Inc.’s stock and sent its bonds to deeply distressed levels. Then came downgrades from credit raters, who said online shopping, tariffs and high helium prices will make it tough to manage about $2.9 billion of debt and lease commitments.While this makes it sound like Party City is next in line for the retail apocalypse, the chain hasn’t posted an annual loss since 2012 and analysts expect it will post a full-year profit next year.“The issue is not whether they can survive tomorrow,” said Allen Adamson, co-founder of marketing consulting company Metaforce. “But whether they will thrive the day after tomorrow.”Executives at the Elmsford, New York-based company declined to comment for this article.The 33-year-old chain certainly found a niche when it opened, with its vast repositories of disco balls, streamers and Santa hats. Since then, Amazon.com Inc. and discount chains like Target Corp. have encroached. What’s more, customers no longer want to go to a store for a single category, said Adamson, an adjunct professor at New York University’s Stern School of Business.“Efficiency and simplicity are driving everything,” he said, which favors online shopping. “You don’t have to spend an hour in a crowded mall lining up in Party City.”Party City is still the leader in its category with about 900 stores as of its latest quarterly report, and it’s pledging to reduce debt while building out in-store pickup for online purchases under a new president of retail, said analyst Adam McLaren at Moody’s Investors Service.Still ProfitableIt’s also buoyed by its wholesale arm, which helps it mitigate tariff impacts and gives it more supplier flexibility, Adamson said.“The vast majority of their stores are still profitable,” McLaren said, and the huge store count is “still key.” Liquidity is still good, too, he said, and no significant maturities loom until 2022.Still, both Adamson and McLaren see worrisome trends. Sales during its key Halloween season faltered again this year amid growing competition, and its products are easily available elsewhere.“You can pretty much get 80% of what they sell at another business,” Adamson said. “You’re not going in there to buy birthday gifts. You’re going in there to buy streamers.”Party ProductsThe company’s debt and the low-margin items it sells hamper its ability to invest in services like party planning, entertainment and a better shopping experience, he said.Earlier this month, Party City reported a $282 million third-quarter loss due to weak Halloween sales and a helium shortage, prompting it to cut its annual forecast. Its senior unsecured bonds maturing in 2023 and 2026 tipped into distress after the news, while the stock plunged 67% the day of the report.The following week its largest shareholder, Thomas H. Lee Partners, disclosed that it distributed shares to limited partners and would no longer have the right to nominate board members, sending the shares down almost 10% more.Last week, a Thomas H. Lee partner who’d earlier said he planned to remain on the board resigned, though he said he had no disagreement with management.“The company’s competitive standing has weakened,” S&P Global Ratings analyst Cameron Bybee wrote in his downgrade, saying a default could be on the horizon for 2022 if consumers continue to move online as well as crimp spending in a slowing economy.(Updates to include lease commitments in the second paragraph)To contact the reporter on this story: Lauren Coleman-Lochner in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Rick Green at email@example.com, Boris KorbyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK , Nov. 13, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP ( www.kaplanfox.com ) has been investigating claims on behalf of investors who purchased the shares and bonds of Party City Holdco Inc. ...
Jim Harrison became the CEO of Party City Holdco Inc. (NYSE:PRTY) in 2014. This analysis aims first to contrast CEO...
Shares of Party City Holdco Inc. plunged 12% toward a record low in permarket trading Wednesday after the party goods retailer disclosed that funds affiliated with its largest shareholder Thomas H. Lee Partners L.P. (THL) made a distribution of its entire 35.7 million share stake, with 29.66 million shares going to certain limited partners of the THL funds and 6.05 million shares going to the general partner. The shares will be subject to a 15-day lock-up. Private-equity firm THL was Party City's largest shareholder with a 37.8% stake as of Sept. 30, according to FactSet data. As a result of the distribution, THL will no longer have the right to nominate Party City board members, while current THL directors Todd Abbrecht and Douglas Haber plan to remain on the board. Party City's stock had suffered a record selloff of 67% on Nov. 7 to a record low after the company reported a surprise third-quarter loss and slashed its full-year outlook. The stock has plummeted 78.4% year to date through Tuesday, while the S&P 500 has climbed 23.3%.
Shares of Party City Holdco Inc. lost two-thirds of their value Thursday, after the party goods retailer reported a surprise third-quarter loss and slashed its full-year outlook, but it’s not just because of the helium shortage, which has lasted a year longer than originally expected.
The retailer, which sells decorated party goods such as balloons and costumes in the United States, said sales of Halloween party supplies in the third quarter, including October, fell 3.2% from a year earlier. "We are carefully analyzing our Halloween results and addressing the underlying issues and opportunities we have identified to improve the business going forward," Chief Executive Officer James Harrison said in a statement. Halloween, which fell on Oct. 31 this year, is one of the busiest holidays for party supplies retailers, when customers shop for everything from decorations to costumes.
Shares of Party City Holdco Inc. plummeted 41% in premarket trading, putting them on track to open at a record low, after the party goods retailer reported a surprise third-quarter loss, revenue that fell more than expected and cut its full-year outlook, citing negative effects of helium shortages and weak Halloween sales. The company reported late-Wednesday a net loss that widened to $39.7 million, or $3.02 a share, from a loss of $2.0 million, or 3 cents a share, in the year-ago period. Excluding non-recurring items, such as charges relate to its store-optimization program, the adjusted loss per share was 28 cents, compared with the FactSet consensus of breakeven. Revenue fell 2.3% to $540.2 million, below the FactSet consensus of $551.0 million. Branded same-store sales decreased 2.6%, with a 210 basis point (2.1 percentage points) headwind from the helium shortage. Halloween product sales for the quarter and the month of October combined fell 3.2%. The company cut its 2019 guidance ranges for adjusted EPS to 84 cents to 91 cents from $1.26 to $1.36 and for revenue to $2.35 billion to $2.38 billion from $2.40 billion to $2.45 billion. The stock had tumbled 39% year to date through Wednesday, while the SPDR S&P Retail ETF had advanced 9.2% and the S&P 500 had climbed 23%.
ELMSFORD, N.Y., Nov. 07, 2019 -- Party City Holdco Inc. (NYSE:PRTY) today announced financial results for the third quarter ended September 30, 2019, as well as total revenue.
Party City (PRTY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter of 2018. Trends reversed 180 degrees during the first half of 2019 amid Powell's pivot and optimistic expectations towards a trade deal with China. Hedge funds and institutional investors tracked by Insider Monkey usually invest a […]
ELMSFORD, N.Y., Oct. 24, 2019 -- Party City Holdco Inc. (NYSE:PRTY) today announced that its third quarter 2019 financial results will be released prior to market open on.
Halloween — or should we say Howl-o-ween — is going to the dogs. Americans will spend $490 million on costumes for their pets this Halloween, according to the National Retail Federation, which is more than double what they dropped to dress their dogs, cats and other critters in 2010. Sara Ochoa is one of the 29 million people getting her furbaby into costume for the occasion.
Party City Holdco Inc. (PRTY) (“Party City” or the “Company”), today announced that it has completed the previously announced sale of its Canadian retail business to Canadian Tire Corporation, Limited (CTC.TO) (“Canadian Tire”). Through the transaction, Canadian Tire acquired Party City’s 65 Canada–based retail store locations in an all-cash transaction valued at approximately CAD$174 million. In connection with the sale, Party City and Canadian Tire have also agreed to a long-term wholesale supply agreement, with an initial term of 10 years.
During Wednesday's " Mad Money" program, Jim Cramer cautioned against two floundering retailers, Michaels Companies , and Party City Holdco . A party sounds like fun, so let's check out the charts of PRTY.
Party City Holdco Inc. (the “Company" or "Party City") (PRTY), the leading vertically integrated decorated party goods company in North America, today announced the appointment of two industry veterans, John Frascotti and Jim Conroy, to its Board of Directors, effective September 11, 2019. Mr. Frascotti is currently President, Chief Operating Officer of Hasbro, Inc., the global play and entertainment company, and has served in this role since 2017.
ELMSFORD, N.Y., Sept. 04, 2019 -- Party City (NYSE: PRTY) announced today that it plans to hire approximately 25,000 temporary employees and open up approximately 275 Halloween.
CFO of Party City Holdco Inc (30-Year Financial, Insider Trades) Michael A. Correale (insider trades) bought 24,300 shares of PRTY on 08/15/2019 at an average price of $4.13 a share. Continue reading...