United Parks & Resorts (NYSE:PRKS) Stock Price Down 8.6% After Earnings Miss

Key Points

• United Parks & Resorts shares fell 8.6% after the company posted a weaker-than-expected quarterly earnings report.
• The company reported EPS of -$0.69, missing analyst estimates of -$0.36, while revenue declined 3.0% year over year.
• Despite the selloff, analysts still have a mixed but generally cautious view, with a consensus rating of Hold and an average price target of $49.50.

United Parks & Resorts Inc. (NYSE:PRKS - Get Free Report) was down 8.6% on Monday following a weaker than expected earnings announcement. The company traded as low as $36.56 and last traded at $35.8550. Approximately 758,876 shares traded hands during trading, a decline of 32% from the average daily volume of 1,108,687 shares. The stock had previously closed at $39.22.

The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.33). United Parks & Resorts had a net margin of 10.13% and a negative return on equity of 41.63%. United Parks & Resorts's revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) earnings per share.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PRKS shares. Guggenheim lowered their price target on shares of United Parks & Resorts from $56.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of United Parks & Resorts from $63.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Citigroup lowered their target price on shares of United Parks & Resorts from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, February 5th. Mizuho raised shares of United Parks & Resorts from an "underperform" rating to an "outperform" rating and lifted their price target for the stock from $27.00 to $47.00 in a report on Friday. Finally, Truist Financial upped their price target on United Parks & Resorts from $47.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, United Parks & Resorts currently has a consensus rating of "Hold" and a consensus price target of $49.50.

Institutional Trading of United Parks & Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in United Parks & Resorts during the fourth quarter worth approximately $25,000. CWM LLC raised its stake in shares of United Parks & Resorts by 74.3% during the 3rd quarter. CWM LLC now owns 495 shares of the company's stock worth $26,000 after buying an additional 211 shares during the period. Federated Hermes Inc. raised its stake in shares of United Parks & Resorts by 114.0% during the 3rd quarter. Federated Hermes Inc. now owns 550 shares of the company's stock worth $28,000 after buying an additional 293 shares during the period. Quarry LP purchased a new position in shares of United Parks & Resorts during the 3rd quarter valued at approximately $28,000. Finally, Rockefeller Capital Management L.P. grew its stake in United Parks & Resorts by 183.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 851 shares of the company's stock valued at $31,000 after acquiring an additional 551 shares during the period.

United Parks & Resorts Stock Performance

The company has a 50 day simple moving average of $33.96 and a 200 day simple moving average of $36.36. The company has a market capitalization of $1.74 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.96 and a beta of 1.14.

United Parks & Resorts Company Profile

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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