Brokerages expect Park Hotels & Resorts Inc (NYSE:PK) to report earnings per share (EPS) of $0.61 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Park Hotels & Resorts’ earnings. The lowest EPS estimate is $0.55 and the highest is $0.65. Park Hotels & Resorts reported earnings of $0.64 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 4.7%. The firm is expected to announce its next earnings results after the market closes on Thursday, May 3rd.
On average, analysts expect that Park Hotels & Resorts will report full year earnings of $2.77 per share for the current financial year, with EPS estimates ranging from $2.58 to $2.90. For the next fiscal year, analysts forecast that the firm will report earnings of $2.76 per share, with EPS estimates ranging from $2.59 to $2.92. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Park Hotels & Resorts.
Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, March 1st. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). Park Hotels & Resorts had a net margin of 94.05% and a return on equity of 43.23%. The firm had revenue of $686.00 million during the quarter, compared to the consensus estimate of $673.89 million. During the same quarter in the prior year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. Deutsche Bank raised their price target on shares of Park Hotels & Resorts from $29.00 to $30.00 and gave the company a “hold” rating in a report on Friday, February 9th. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Boenning Scattergood cut shares of Park Hotels & Resorts from an “outperform” rating to a “neutral” rating in a report on Wednesday, February 21st. Bank of America cut shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating in a report on Monday, March 5th. Finally, Nomura lowered their price target on shares of Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $36.23.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its stake in Park Hotels & Resorts by 170.0% in the 4th quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 3,005 shares in the last quarter. Omnia Family Wealth LLC boosted its stake in Park Hotels & Resorts by 172.1% in the 4th quarter. Omnia Family Wealth LLC now owns 5,025 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 3,178 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in Park Hotels & Resorts in the 4th quarter worth approximately $202,000. Hollencrest Capital Management acquired a new stake in Park Hotels & Resorts in the 4th quarter worth approximately $207,000. Finally, Parallel Advisors LLC raised its position in Park Hotels & Resorts by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,273 shares of the financial services provider’s stock worth $209,000 after buying an additional 2,484 shares during the last quarter.
Shares of NYSE:PK traded up $0.28 during trading on Friday, reaching $27.71. The stock had a trading volume of 2,865,614 shares, compared to its average volume of 2,438,906. Park Hotels & Resorts has a one year low of $23.91 and a one year high of $29.93. The stock has a market capitalization of $5,750.46, a P/E ratio of 9.58, a P/E/G ratio of 1.92 and a beta of 0.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.29.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Wednesday, March 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 61.87%.
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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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