Park National Corp (NYSEAMERICAN: PRK) has reported earnings for its second fiscal quarter (ending June 30) of $2.44 versus $1.95 for the same period a year ago — an increase of 25%. This result exceeded the consensus estimate of $2.00 by $0.44. For the latest four quarters through June 30, E.P.S. were $8.43 versus $8.65 for the same period a year ago — a decline of -3%.
Recent Price Action
Park National Corp (NYSEAMERICAN: PRK) stock increased 1.6% on 7/22/24. The shares closed at $170.16. This advance was accompanied by normal trading volume. The stock has been strong relative to the market over the last nine months and has risen 10.2% during the last week.
Current PriceTarget Research Rating
PRK is expected to continue to be a Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Park National has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Park National has a slightly negative Appreciation Score of 35 but a good Power Rating of 73, producing the Neutral Value Trend Rating.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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