Pandora Media Inc (P) Expected to Announce Quarterly Sales of $449.04 Million

Share on StockTwits

Wall Street brokerages forecast that Pandora Media Inc (NYSE:P) will post sales of $449.04 million for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Pandora Media’s earnings. The lowest sales estimate is $432.77 million and the highest is $462.50 million. Pandora Media reported sales of $395.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Pandora Media will report full year sales of $1.56 billion for the current financial year, with estimates ranging from $1.52 billion to $1.58 billion. For the next financial year, analysts expect that the company will post sales of $1.77 billion, with estimates ranging from $1.68 billion to $1.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Pandora Media.

Pandora Media (NYSE:P) last released its earnings results on Monday, November 5th. The Internet radio service reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.05. The company had revenue of $417.63 million during the quarter, compared to analysts’ expectations of $400.69 million. Pandora Media had a negative return on equity of 330.21% and a negative net margin of 23.85%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS.

A number of brokerages have issued reports on P. Canaccord Genuity set a $11.00 price objective on Pandora Media and gave the company a “buy” rating in a research note on Sunday, September 23rd. William Blair cut Pandora Media from an “outperform” rating to a “market perform” rating in a research note on Monday, September 24th. Cascend Securities upgraded Pandora Media from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Aegis cut Pandora Media from a “buy” rating to a “hold” rating and set a $8.75 price objective for the company. in a research note on Monday, September 24th. Finally, Needham & Company LLC cut Pandora Media from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.31.

In related news, insider S Aimee Lapic sold 9,312 shares of Pandora Media stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $9.01, for a total value of $83,901.12. Following the completion of the sale, the insider now owns 392,876 shares of the company’s stock, valued at $3,539,812.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Karen Sammis Walker sold 3,026 shares of Pandora Media stock in a transaction on Friday, November 16th. The stock was sold at an average price of $8.90, for a total value of $26,931.40. Following the completion of the sale, the chief accounting officer now directly owns 143,580 shares of the company’s stock, valued at approximately $1,277,862. The disclosure for this sale can be found here. Insiders sold 290,023 shares of company stock valued at $2,564,106 in the last 90 days. Company insiders own 0.43% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of P. Vanguard Group Inc. grew its holdings in Pandora Media by 7.7% during the third quarter. Vanguard Group Inc. now owns 23,315,363 shares of the Internet radio service’s stock valued at $221,729,000 after purchasing an additional 1,674,105 shares during the period. Vanguard Group Inc grew its holdings in Pandora Media by 7.7% during the third quarter. Vanguard Group Inc now owns 23,315,363 shares of the Internet radio service’s stock valued at $221,729,000 after purchasing an additional 1,674,105 shares during the period. BlackRock Inc. grew its holdings in Pandora Media by 2.6% during the third quarter. BlackRock Inc. now owns 18,080,889 shares of the Internet radio service’s stock valued at $171,949,000 after purchasing an additional 461,308 shares during the period. Waddell & Reed Financial Inc. grew its holdings in Pandora Media by 1.6% during the second quarter. Waddell & Reed Financial Inc. now owns 12,937,073 shares of the Internet radio service’s stock valued at $101,944,000 after purchasing an additional 205,294 shares during the period. Finally, First Trust Advisors LP grew its holdings in Pandora Media by 1.2% during the third quarter. First Trust Advisors LP now owns 11,839,118 shares of the Internet radio service’s stock valued at $112,590,000 after purchasing an additional 145,119 shares during the period. 97.42% of the stock is owned by institutional investors.

Shares of P traded down $0.03 on Wednesday, reaching $8.59. The stock had a trading volume of 4,459,888 shares, compared to its average volume of 8,259,244. The stock has a market cap of $2.33 billion, a PE ratio of -6.93 and a beta of -0.28. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 4.85. Pandora Media has a 12-month low of $4.09 and a 12-month high of $10.07.

About Pandora Media

Pandora Media, Inc provides music discovery platform services in the United States and internationally. The company offers streaming radio and on-demand music services, which enable the listeners to create personalized stations and playlists, as well as search and play songs and albums on-demand. It also provides Pandora?Ad-Supported Radio Service, an ad-supported service that allows listeners to access a catalog of music, comedy, livestreams, and podcasts through its personalized playlist generating system for free across its various delivery platforms, as well as Premium Access, a service to listeners to access on-demand listening experience; and Pandora Plus, a subscription radio service, which also includes replays, additional skipping of songs, offline listening, higher quality audio on supported devices, and longer timeout-free listening.

Read More: How to execute a trade ex-dividend strategy?

Get a free copy of the Zacks research report on Pandora Media (P)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pandora Media (NYSE:P)

Receive News & Ratings for Pandora Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pandora Media and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Village Farms International  Trading 20.4% Higher
Village Farms International Trading 20.4% Higher
Enablence Technologies  Trading Down 16.7%
Enablence Technologies Trading Down 16.7%
Q4 2019 EPS Estimates for Citizens Financial Group Inc  Lowered by Wedbush
Q4 2019 EPS Estimates for Citizens Financial Group Inc Lowered by Wedbush
Wynn Resorts, Limited Expected to Post FY2020 Earnings of $7.70 Per Share
Wynn Resorts, Limited Expected to Post FY2020 Earnings of $7.70 Per Share
UBS Group Reaffirms Buy Rating for Puma AG Rudolf Dassler Sport
UBS Group Reaffirms Buy Rating for Puma AG Rudolf Dassler Sport
Trevali Mining  Price Target Lowered to C$0.60 at National Bank Financial
Trevali Mining Price Target Lowered to C$0.60 at National Bank Financial


Leave a Reply

 
© 2006-2019 Zolmax.