Park Hotels & Resorts (PK) Releases FY 2018 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) updated its FY 2018 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.86-2.94 for the period.

A number of research firms recently issued reports on PK. Nomura raised their price target on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a buy rating in a research note on Friday. Zacks Investment Research downgraded Park Hotels & Resorts from a buy rating to a hold rating in a research note on Tuesday, October 9th. Evercore ISI downgraded Park Hotels & Resorts from an outperform rating to an in-line rating in a research note on Monday, August 20th. SunTrust Banks reiterated a buy rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Finally, Barclays reiterated a buy rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Park Hotels & Resorts presently has an average rating of Hold and an average target price of $31.81.

Shares of PK stock traded down $0.25 during midday trading on Friday, hitting $29.42. The company had a trading volume of 2,900,365 shares, compared to its average volume of 2,204,886. Park Hotels & Resorts has a 52-week low of $23.91 and a 52-week high of $34.27. The company has a market capitalization of $5.92 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.38). Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.24%. The company had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $656.61 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts predict that Park Hotels & Resorts will post 2.86 earnings per share for the current fiscal year.

About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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

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