Mizuho Issues Pessimistic Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

Key Points

• Mizuho has reduced its price target for United Parks & Resorts from $45.00 to $44.00, maintaining an "underperform" rating and indicating a potential downside of 6.96%.
• Other analysts, including Guggenheim and Truist Financial, have also adjusted their price targets, with average analyst ratings for the stock currently at "Hold" and an average target of $57.15.
• United Parks & Resorts recently reported a net loss of ($0.29) EPS, falling short of expectations, with revenue for the quarter down 3.5% year-over-year.

United Parks & Resorts (NYSE:PRKS - Free Report) had its target price decreased by Mizuho from $45.00 to $44.00 in a research note published on Monday morning,Benzinga reports. Mizuho currently has an underperform rating on the stock.

A number of other brokerages have also issued reports on PRKS. Citigroup raised their price objective on shares of United Parks & Resorts from $48.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Truist Financial cut their price target on shares of United Parks & Resorts from $62.00 to $52.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Guggenheim decreased their price objective on United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Morgan Stanley lowered their target price on United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $57.15.

United Parks & Resorts Trading Down 0.6%

NYSE PRKS traded down $0.32 during trading on Monday, reaching $49.37. The company's stock had a trading volume of 328,635 shares, compared to its average volume of 853,584. United Parks & Resorts has a 12 month low of $37.68 and a 12 month high of $60.83. The firm has a 50 day moving average price of $46.73 and a 200 day moving average price of $47.59. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.16 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.31). The firm had revenue of $490.21 million for the quarter, compared to the consensus estimate of $505.20 million. United Parks & Resorts had a negative return on equity of 51.46% and a net margin of 12.98%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 EPS. On average, equities analysts forecast that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On United Parks & Resorts

Several large investors have recently added to or reduced their stakes in PRKS. Caitong International Asset Management Co. Ltd acquired a new position in United Parks & Resorts during the 1st quarter worth approximately $31,000. GAMMA Investing LLC raised its position in shares of United Parks & Resorts by 3,233.3% during the first quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock worth $114,000 after purchasing an additional 2,425 shares during the period. QRG Capital Management Inc. raised its position in shares of United Parks & Resorts by 11.3% during the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock worth $204,000 after purchasing an additional 456 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of United Parks & Resorts by 7.4% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock worth $205,000 after purchasing an additional 310 shares in the last quarter. Finally, Mariner LLC acquired a new stake in United Parks & Resorts in the 4th quarter valued at $214,000.

About United Parks & Resorts

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.