Parkway Properties Given Outperform Rating at Robert W. Baird (PKY)
Parkway Properties (NYSE:PKY)‘s stock had its “outperform” rating restated by Robert W. Baird in a research note issued on Thursday, Analyst Ratings News reports. They currently have a $21.00 price objective on the stock, up from their previous price objective of $20.00. Robert W. Baird’s target price indicates a potential upside of 12.12% from the company’s current price.
Shares of Parkway Properties (NYSE:PKY) opened at 18.73 on Thursday. Parkway Properties has a 52 week low of $15.70 and a 52 week high of $19.67. The stock’s 50-day moving average is $18.41 and its 200-day moving average is $18.12. The company has a market cap of $1.934 billion and a price-to-earnings ratio of 53.93.
Parkway Properties (NYSE:PKY) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.03. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $101.57 million. During the same quarter last year, the company posted $0.33 earnings per share. Parkway Properties’s revenue was up 52.7% compared to the same quarter last year. Analysts expect that Parkway Properties will post $1.23 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PKY. Analysts at Stifel Nicolaus upgraded shares of Parkway Properties from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $21.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Barclays raised their price target on shares of Parkway Properties from $21.00 to $22.00 in a research note on Tuesday, April 22nd. They now have an “overweight” rating on the stock. Finally, analysts at Zacks upgraded shares of Parkway Properties from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 25th. They now have a $18.80 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Parkway Properties presently has a consensus rating of “Hold” and an average target price of $20.48.
Parkway Properties, Inc (NYSE:PKY) is a self-administered real estate investment trust (REIT) specializing in the ownership of office properties in higher growth submarkets in the Sunbelt region of the United States.
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