Mizuho Issues Pessimistic Forecast for United Parks & Resorts (NYSE:PRKS) Stock Price

United Parks & Resorts (NYSE:PRKS) had its price objective reduced by analysts at Mizuho from $46.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s price objective points to a potential downside of 18.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley cut their target price on United Parks & Resorts from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of United Parks & Resorts in a report on Wednesday, November 5th. Stifel Nicolaus reduced their target price on United Parks & Resorts from $65.00 to $63.00 and set a “buy” rating for the company in a report on Friday, August 8th. 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 research report on Thursday, July 17th. Finally, Truist Financial upped their target price on United Parks & Resorts from $58.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.73.

United Parks & Resorts Price Performance

Shares of NYSE:PRKS opened at $34.32 on Wednesday. The firm has a market capitalization of $1.89 billion, a PE ratio of 9.18 and a beta of 1.38. The business has a 50-day moving average of $50.23 and a two-hundred day moving average of $48.55. United Parks & Resorts has a 12 month low of $34.05 and a 12 month high of $60.83.

United Parks & Resorts (NYSE:PRKS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.63). United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The firm had revenue of $511.85 million for the quarter, compared to analysts’ expectations of $540.43 million. During the same quarter in the prior year, the business earned $2.08 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts anticipate that United Parks & Resorts will post 3.95 earnings per share for the current year.

United Parks & Resorts announced that its board has initiated a share buyback plan on Friday, September 5th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On United Parks & Resorts

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in United Parks & Resorts by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 56,451 shares of the company’s stock worth $2,566,000 after buying an additional 3,488 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of United Parks & Resorts by 690.9% during the first quarter. Allianz Asset Management GmbH now owns 46,662 shares of the company’s stock worth $2,121,000 after buying an additional 40,762 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in 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 acquiring an additional 310 shares in the last quarter. GSA Capital Partners LLP increased its position in United Parks & Resorts by 94.4% in the first quarter. GSA Capital Partners LLP now owns 43,639 shares of the company’s stock worth $1,984,000 after purchasing an additional 21,195 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of United Parks & Resorts in the 1st quarter worth $630,000.

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.