United Parks & Resorts (NYSE:PRKS) Posts Earnings Results

Key Points

• United Parks & Resorts reported quarterly EPS of -$0.69, missing the consensus estimate of -$0.36 and worsening from -$0.29 in the same quarter last year.
• The company’s quarterly revenue fell 3.0% year over year, while it posted a net margin of 10.13% and a negative return on equity of 41.63%.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average price target of $49.50, though recent ratings ranged from Buy to Strong Sell.

United Parks & Resorts (NYSE:PRKS - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.33), Briefing.com reports. United Parks & Resorts had a net margin of 10.13% and a negative return on equity of 41.63%. During the same period last year, the firm posted ($0.29) earnings per share. The firm's quarterly revenue was down 3.0% on a year-over-year basis.

United Parks & Resorts Stock Performance

Shares of PRKS opened at $39.10 on Monday. United Parks & Resorts has a 52-week low of $28.77 and a 52-week high of $56.95. The business's 50 day moving average price is $33.96 and its two-hundred day moving average price is $36.36. The firm has a market cap of $1.87 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.14.

Institutional Trading of United Parks & Resorts

Several large investors have recently modified their holdings of the stock. Great Lakes Advisors LLC boosted its stake in United Parks & Resorts by 53.3% during the fourth quarter. Great Lakes Advisors LLC now owns 55,556 shares of the company's stock worth $2,017,000 after acquiring an additional 19,318 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in United Parks & Resorts by 9.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 37,845 shares of the company's stock worth $1,957,000 after purchasing an additional 3,200 shares during the period. State of Wisconsin Investment Board increased its position in United Parks & Resorts by 56.3% in the 4th quarter. State of Wisconsin Investment Board now owns 33,552 shares of the company's stock valued at $1,218,000 after buying an additional 12,086 shares in the last quarter. Victory Capital Management Inc. raised its stake in United Parks & Resorts by 11.9% during the 3rd quarter. Victory Capital Management Inc. now owns 17,960 shares of the company's stock worth $929,000 after buying an additional 1,911 shares during the period. Finally, Laurion Capital Management LP acquired a new position in United Parks & Resorts during the 4th quarter worth approximately $787,000.

Analysts Set New Price Targets

A number of research firms recently commented on PRKS. Truist Financial lifted their price objective on United Parks & Resorts from $47.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Zacks Research lowered shares of United Parks & Resorts from a "hold" rating to a "strong sell" rating in a report on Friday, April 17th. Weiss Ratings restated a "sell (d+)" rating on shares of United Parks & Resorts in a research report on Friday, March 27th. Citigroup decreased their price objective on shares of United Parks & Resorts from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, February 5th. Finally, Guggenheim lowered their target price on shares of United Parks & Resorts from $56.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.50.

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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