Morgan Stanley Has Lowered Expectations for United Parks & Resorts (NYSE:PRKS) Stock Price

Key Points

• Morgan Stanley has lowered its target price for United Parks & Resorts' stock from $52.00 to $50.00, maintaining an "equal weight" rating, which indicates a potential upside of 6.46%.
• In addition to Morgan Stanley, other analysts like JPMorgan Chase and Citigroup have also reduced their price targets, with an average consensus rating of "Hold" and a target price of $57.23.
• United Parks & Resorts reported a quarterly loss of ($0.29) earnings per share, missing analyst estimates and showing a revenue decline of 3.5% from the previous year.

United Parks & Resorts (NYSE:PRKS - Get Free Report) had its target price cut by investment analysts at Morgan Stanley from $52.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 0.75% from the company's previous close.

A number of other brokerages have also recently weighed in on PRKS. Barclays lowered their price target on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. JPMorgan Chase & Co. lowered their target price on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Guggenheim dropped their target price on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Truist Financial reduced 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 research report on Monday, April 14th. Finally, Citigroup upped their price objective on shares of United Parks & Resorts from $48.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and an average target price of $57.15.

United Parks & Resorts Trading Down 0.1%

NYSE PRKS traded down $0.06 on Monday, reaching $49.63. The company's stock had a trading volume of 222,961 shares, compared to its average volume of 852,949. The firm has a market cap of $2.73 billion, a PE ratio of 13.24 and a beta of 1.48. The business has a 50-day moving average price of $46.73 and a 200 day moving average price of $47.59. United Parks & Resorts has a 52 week low of $37.68 and a 52 week high of $60.83.

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

Hedge Funds Weigh In On United Parks & Resorts

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of United Parks & Resorts in the first quarter valued at approximately $31,000. GAMMA Investing LLC boosted its position in United Parks & Resorts by 3,233.3% in the 1st quarter. GAMMA Investing LLC now owns 2,500 shares of the company's stock valued at $114,000 after buying an additional 2,425 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of United Parks & Resorts by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after buying an additional 456 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake 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 valued at $205,000 after buying an additional 310 shares during the period. Finally, Mariner LLC bought a new stake in shares of United Parks & Resorts during the fourth quarter worth $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.