United Parks & Resorts (NYSE:PRKS) Shares Gap Up After Earnings Beat

United Parks & Resorts Inc. (NYSE:PRKS) shares gapped up before the market opened 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 for the quarter, beating the consensus estimate of ($0.26) by $0.09. United Parks & Resorts had a negative return on equity of 72.46% and a net margin of 13.56%. The firm had revenue of $297.40 million for the quarter, compared to analysts’ expectations of $286.88 million. During the same quarter last year, the firm posted ($0.26) EPS. The company’s revenue was up 1.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

PRKS has been the topic of several recent analyst reports. Guggenheim initiated coverage on United Parks & Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $73.00 price target on the stock. Truist Financial decreased their price objective on United Parks & Resorts from $64.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on United Parks & Resorts from $57.00 to $61.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Mizuho raised their price objective on United Parks & Resorts from $47.00 to $48.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Citigroup raised their price objective on United Parks & Resorts from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, United Parks & Resorts has an average rating of “Hold” and a consensus price target of $59.80.

Insider Buying and Selling

In related news, insider Kyle Robert Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $53.87, for a total transaction of $53,870.00. Following the transaction, the insider now directly owns 36,961 shares in the company, valued at approximately $1,991,089.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Byron Surrett sold 1,082 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $53.48, for a total transaction of $57,865.36. Following the transaction, the insider now directly owns 10,586 shares in the company, valued at approximately $566,139.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kyle Robert Miller sold 1,000 shares of United Parks & Resorts stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $53.87, for a total value of $53,870.00. Following the completion of the sale, the insider now owns 36,961 shares in the company, valued at $1,991,089.07. The disclosure for this sale can be found here. Insiders have sold a total of 8,165 shares of company stock worth $420,927 in the last ninety days. 1.10% of the stock is owned by insiders.

United Parks & Resorts Price Performance

The firm has a market cap of $3.39 billion, a PE ratio of 14.79 and a beta of 1.83. The company has a 50-day moving average of $53.04.

United Parks & Resorts Company Profile

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.