United Parks & Resorts Inc. (NYSE:PRKS) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• United Parks & Resorts Inc. (NYSE:PRKS) received a consensus rating of "Hold" from twelve rating firms, with one sell, six hold, and five buy ratings.
• The company reported quarterly earnings of $1.45 per share, missing analysts' estimates by $0.31, and had a revenue of $490.21 million, which was below expectations.
• United Parks & Resorts has a 52-week stock range between $37.68 and $60.83 and is currently trading around $51.97.

Shares of United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) have been given a consensus rating of "Hold" by the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $57.7273.

A number of brokerages have recently weighed in on PRKS. JPMorgan Chase & Co. cut their price objective on United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Mizuho raised their price objective on United Parks & Resorts from $44.00 to $46.00 and gave the company an "underperform" rating in a research report on Wednesday, August 13th. Barclays cut their price objective on United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. Zacks Research upgraded United Parks & Resorts from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Morgan Stanley cut their price objective 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, August 4th.

United Parks & Resorts Stock Performance

Shares of PRKS stock opened at $51.97 on Wednesday. United Parks & Resorts has a 52-week low of $37.68 and a 52-week high of $60.83. The firm has a market capitalization of $2.86 billion, a PE ratio of 13.90 and a beta of 1.34. The stock has a fifty day simple moving average of $50.76 and a two-hundred day simple moving average of $47.45.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.76 by ($0.31). United Parks & Resorts had a negative return on equity of 47.59% and a net margin of 12.39%.The business had revenue of $490.21 million during the quarter, compared to analysts' expectations of $505.20 million. During the same quarter in the previous year, the company posted $1.46 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that United Parks & Resorts will post 3.95 EPS for the current fiscal year.

United Parks & Resorts declared that its board has approved a stock buyback program on Friday, September 5th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRKS. Ameriprise Financial Inc. grew its position in United Parks & Resorts by 26.9% in the fourth quarter. Ameriprise Financial Inc. now owns 41,816 shares of the company's stock worth $2,350,000 after acquiring an additional 8,867 shares in the last quarter. ProShare Advisors LLC grew its position in United Parks & Resorts by 38.2% in the fourth quarter. ProShare Advisors LLC now owns 9,201 shares of the company's stock worth $517,000 after acquiring an additional 2,544 shares in the last quarter. Tidal Investments LLC purchased a new position in United Parks & Resorts in the fourth quarter worth about $484,000. Squarepoint Ops LLC purchased a new position in United Parks & Resorts in the fourth quarter worth about $571,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in United Parks & Resorts by 14.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 99,270 shares of the company's stock worth $5,578,000 after acquiring an additional 12,236 shares in the last quarter.

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.

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