Park Hotels & Resorts Inc to Post Q3 2018 Earnings of $0.64 Per Share, Boenning Scattergood Forecasts (NYSE:PK)

Park Hotels & Resorts Inc (NYSE:PK) – Boenning Scattergood dropped their Q3 2018 EPS estimates for shares of Park Hotels & Resorts in a report released on Tuesday, Zacks Investment Research reports. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the financial services provider will earn $0.64 per share for the quarter, down from their previous forecast of $0.65. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Park Hotels & Resorts’ Q1 2019 earnings at $0.71 EPS, Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.69 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.85 EPS.

Other research analysts have also issued reports about the company. Nomura upped their target price on Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, November 6th. SunTrust Banks upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, Zacks Investment Research lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.08.

Park Hotels & Resorts (PK) opened at $28.01 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $6,020.00 and a price-to-earnings ratio of 2.33. Park Hotels & Resorts has a 12 month low of $24.65 and a 12 month high of $29.93.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $688.00 million during the quarter, compared to analyst estimates of $676.76 million. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. Park Hotels & Resorts’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share.

Several large investors have recently made changes to their positions in PK. Schwab Charles Investment Management Inc. boosted its holdings in Park Hotels & Resorts by 278.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,219,821 shares of the financial services provider’s stock valued at $32,887,000 after acquiring an additional 897,527 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Park Hotels & Resorts by 40.6% in the second quarter. Bank of New York Mellon Corp now owns 607,762 shares of the financial services provider’s stock valued at $16,385,000 after acquiring an additional 175,624 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Park Hotels & Resorts by 4,029.2% in the second quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 9,509 shares during the last quarter. Utah Retirement Systems boosted its holdings in Park Hotels & Resorts by 27.5% in the second quarter. Utah Retirement Systems now owns 26,558 shares of the financial services provider’s stock valued at $716,000 after acquiring an additional 5,734 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Park Hotels & Resorts by 53.9% in the second quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 2,080 shares during the last quarter. Institutional investors own 99.21% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.55 dividend. The ex-dividend date was Thursday, December 28th. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.85%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 18.32%.

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About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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