Pandora Media Inc (P) Expected to Post Quarterly Sales of $374.85 Million
Wall Street analysts expect that Pandora Media Inc (NYSE:P) will announce $374.85 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Pandora Media’s earnings, with the lowest sales estimate coming in at $371.36 million and the highest estimate coming in at $380.00 million. Pandora Media posted sales of $392.60 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Pandora Media will report full-year sales of $374.85 million for the current financial year, with estimates ranging from $1.37 billion to $1.49 billion. For the next year, analysts forecast that the business will report sales of $1.56 billion per share, with estimates ranging from $1.47 billion to $1.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Pandora Media.
Pandora Media (NYSE:P) last released its earnings results on Thursday, November 2nd. The Internet radio service reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $380.54 million. Pandora Media had a negative return on equity of 74.78% and a negative net margin of 39.49%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share.
Pandora Media (NYSE:P) traded up $0.21 on Friday, hitting $5.17. The stock had a trading volume of 8,898,531 shares, compared to its average volume of 9,270,000. The company has a market capitalization of $1,290.00, a PE ratio of -2.08 and a beta of -0.25. Pandora Media has a 1 year low of $4.44 and a 1 year high of $13.72. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.18 and a current ratio of 4.18.
In other news, General Counsel Stephen G. Bene sold 7,967 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $5.11, for a total transaction of $40,711.37. Following the completion of the sale, the general counsel now owns 330,865 shares in the company, valued at approximately $1,690,720.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher W. Phillips sold 9,988 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $5.11, for a total value of $51,038.68. Following the sale, the insider now owns 413,884 shares of the company’s stock, valued at approximately $2,114,947.24. The disclosure for this sale can be found here. Insiders have sold a total of 116,389 shares of company stock worth $567,987 in the last ninety days. Insiders own 2.59% of the company’s stock.
A number of hedge funds have recently modified their holdings of P. SG Americas Securities LLC raised its stake in Pandora Media by 1,179.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock worth $34,696,000 after acquiring an additional 4,153,778 shares during the last quarter. Nordea Investment Management AB purchased a new position in Pandora Media in the 2nd quarter worth $14,821,000. SLS Management LLC raised its stake in Pandora Media by 200.5% in the 2nd quarter. SLS Management LLC now owns 2,090,156 shares of the Internet radio service’s stock worth $18,644,000 after acquiring an additional 1,394,520 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Pandora Media by 21.3% in the 3rd quarter. Alyeska Investment Group L.P. now owns 5,165,300 shares of the Internet radio service’s stock worth $39,773,000 after acquiring an additional 906,180 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Pandora Media by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,059,537 shares of the Internet radio service’s stock worth $161,092,000 after acquiring an additional 829,682 shares during the last quarter.
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About Pandora Media
Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.
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