Parkway Properties Receives Consensus Rating of “Hold” from Brokerages (NYSE:PKY)
Shares of Parkway Properties (NYSE:PKY) have received a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Stock Ratings News reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.48.
PKY has been the subject of a number of recent research reports. Analysts at Robert W. Baird raised their price target on shares of Parkway Properties from $20.00 to $21.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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.
Shares of Parkway Properties (NYSE:PKY) traded down 0.37% on Thursday, hitting $18.66. The stock had a trading volume of 147,635 shares. 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 $1.927 billion and a price-to-earnings ratio of 53.36.
Parkway Properties (NYSE:PKY) last announced its earnings results on Monday, May 12th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 52.7% on a year-over-year basis. On average, analysts predict that Parkway Properties will post $1.35 earnings per share for the current fiscal year.
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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