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Par Technology Corp Up 1.37% To $45.99 After Earnings Miss

Tuesday, February 27, 2024 10:42 AM | InvestorsObserver Analysts

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Par Technology Corp Up 1.37% To $45.99 After Earnings Miss

Tuesday, February 27, 2024 - Par Technology Corp (PAR) reported downside earnings and upside revenues.

Wall Street earnings per share (EPS) projections for Par Technology Corp were at a loss of $0.26 per share. The company missed those estimates with an EPS loss of $0.33 per share. The loss of $0.33 per share (which represents a -27% EPS surprise) led to the company's profits falling 27% compared to last year when the firm reported an EPS loss of $0.26 per share. The decline in Par Technology Corp's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were upbeat at $107.7 million. That is an increase of 10.30% in revenues from the year-ago report and is 2.88% higher than consensus estimates set at $104.7 million.

The stock is up 1.37% to $45.99 after the report.

Par Technology Corp's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Par Technology Corp has performed a little above average during the past few months. Before the report, Par Technology Corp received a Long-Term Technical Rank by InvestorsObserver of 67, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $49.84 on January 26, 2024 and set a 52-week low on May 11, 2023 at $24.76.

PAR Technology Corp together with its subsidiaries provides management technology solutions including software, hardware, and related services, integral to the point-of-sale infrastructure and task management, information gathering, assimilation and communication services. It has two segments. Restaurant/ Retail segment provides point-of-sale and management technology solutions such as hardware, software and integrated technical solutions to the restaurant and retail industries. Government segment provides intelligence, surveillance, and reconnaissance solutions and mission systems support. The company derives the majority of its revenues from the Restaurant/ Retail segment.

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