United Parks & Resorts (NYSE:PRKS) Shares Gap Up on Better-Than-Expected Earnings

United Parks & Resorts Inc. (NYSE:PRKSGet Free Report) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $49.16, but opened at $52.88. United Parks & Resorts shares last traded at $50.30, with a volume of 566,936 shares.

The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.09. The company had revenue of $297.40 million for the quarter, compared to the consensus estimate of $286.88 million. United Parks & Resorts had a negative return on equity of 72.46% and a net margin of 13.56%. United Parks & Resorts’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) earnings per share.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on United Parks & Resorts from $57.00 to $61.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Citigroup increased their target price on United Parks & Resorts from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday. Mizuho increased their target price on United Parks & Resorts from $47.00 to $48.00 and gave the company an “underperform” rating in a report on Thursday. Guggenheim assumed coverage on United Parks & Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $73.00 target price for the company. Finally, Truist Financial reduced their target price on United Parks & Resorts from $64.00 to $58.00 and set a “buy” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.80.

View Our Latest Research Report on PRKS

Insider Activity at United Parks & Resorts

In related news, insider Kyle Robert Miller sold 1,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $52.50, for a total value of $52,500.00. Following the completion of the sale, the insider now owns 37,961 shares of the company’s stock, valued at $1,992,952.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Byron Surrett sold 1,082 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $53.48, for a total value of $57,865.36. Following the completion of the transaction, the insider now directly owns 10,586 shares in the company, valued at $566,139.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kyle Robert Miller sold 1,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $52.50, for a total value of $52,500.00. Following the completion of the transaction, the insider now owns 37,961 shares of the company’s stock, valued at $1,992,952.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,165 shares of company stock valued at $420,927. 1.10% of the stock is currently owned by insiders.

United Parks & Resorts Price Performance

The firm has a market cap of $3.39 billion, a P/E ratio of 14.79 and a beta of 1.83. The business has a 50-day moving average of $53.04.

United Parks & Resorts Company Profile

(Get Free Report)

United Parks & Resorts Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It operates and licenses SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; Abu Dhabi, United Arab Emirates; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.

Further Reading

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