United Parks & Resorts (NYSE:PRKS) Posts Earnings Results, Misses Expectations By $0.31 EPS

Key Points

• United Parks & Resorts reported quarterly earnings of $1.45 EPS, falling short of analysts' expectations by $0.31, with revenue of $490.21 million, also below forecasted figures.
• After the earnings report, shares of United Parks & Resorts declined by 1.9%, trading at $48.77, with a market cap of $2.68 billion.
• Several analysts have lowered their target prices for the stock, with the consensus rating currently at "Hold" and a target price of $56.73.

United Parks & Resorts (NYSE:PRKS - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.76 by ($0.31), Zacks reports. United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 45.79%. The business had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. During the same quarter last year, the business earned $1.46 earnings per share. United Parks & Resorts's revenue for the quarter was down 1.5% on a year-over-year basis.

United Parks & Resorts Trading Down 1.9%

Shares of NYSE:PRKS traded down $0.92 on Friday, hitting $48.77. The company had a trading volume of 1,117,657 shares, compared to its average volume of 838,976. United Parks & Resorts has a 1-year low of $37.68 and a 1-year high of $60.83. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 13.04 and a beta of 1.48. The stock has a 50 day moving average price of $46.81 and a 200 day moving average price of $47.53.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PRKS. Guggenheim lowered their price objective on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Mizuho lowered their target price on shares of United Parks & Resorts from $45.00 to $44.00 and set an "underperform" rating on the stock in a report on Monday, August 4th. Truist Financial lowered their target price 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. Barclays lowered their target price on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Finally, Stifel Nicolaus lowered their target price on shares of United Parks & Resorts from $65.00 to $63.00 and set a "buy" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $56.73.

Hedge Funds Weigh In On United Parks & Resorts

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of United Parks & Resorts by 11.7% in the first quarter. AQR Capital Management LLC now owns 12,220 shares of the company's stock valued at $556,000 after purchasing an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of United Parks & Resorts by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 102,317 shares of the company's stock valued at $4,651,000 after purchasing an additional 3,047 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of United Parks & Resorts by 58.9% in the first quarter. Goldman Sachs Group Inc. now owns 678,813 shares of the company's stock valued at $30,859,000 after purchasing an additional 251,522 shares during 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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