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Investing.com - Guggenheim lowered its price target on United Parks & Resorts (NYSE:PRKS) to $66.00 from $67.00 on Thursday, while maintaining a Buy rating on the theme park operator’s shares.
The price target adjustment follows United Parks & Resorts’ second-quarter results, which showed revenue of $490 million and adjusted EBITDA of $206 million, falling short of Guggenheim’s estimates of $499 million and $220 million respectively.
The quarter benefited from a favorable Easter and Spring Break shift that added approximately 140,000 visitors, but this positive impact was offset by significantly worse weather compared to the prior year.
Guggenheim has also reduced its fiscal year 2025 forecasts for United Parks & Resorts, now projecting revenue of $1.73 billion and EBITDA of $682 million to reflect the second-quarter performance.
The firm’s updated outlook assumes United Parks & Resorts will benefit from more normalized weather conditions, relatively flat per capita spending increases, new rides and attractions, and continued cost discipline measures.
In other recent news, United Parks & Resorts reported its Q1 2025 earnings, which revealed a net loss greater than analysts had anticipated. The company posted an actual EPS of -$0.29, missing the forecasted -$0.21, and revenue reached $286.9 million, falling short of the expected $295.77 million. In addition, Citi analysts adjusted their outlook for United Parks & Resorts, lowering the price target to $49 from $51, while maintaining a Neutral rating. This adjustment was due to a decrease in the second-quarter adjusted EBITDA estimate to $226 million, which is slightly above the Street’s $223 million. The revision also included lowered attendance estimates and adjustments to future financial projections for 2025, 2026, and 2027.
Furthermore, Guggenheim reduced its price target for United Parks & Resorts to $67 from $74, citing adverse weather conditions and competitive pressures in the Orlando market. Despite maintaining a Buy rating, Guggenheim’s analysis was influenced by foot traffic data. Mizuho (NYSE:MFG) also maintained its Underperform rating but lowered the price target to $44 from $45, due to slower-than-anticipated underlying trends. These developments highlight the challenges United Parks & Resorts is currently facing, as reflected in the recent adjustments by multiple research firms.
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