Park Hotels & Resorts (NYSE:PK) Updates FY19 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.80-2.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.87.

Shares of Park Hotels & Resorts stock traded down $0.33 during trading on Friday, hitting $23.02. 2,718,619 shares of the company were exchanged, compared to its average volume of 1,960,902. The firm has a market capitalization of $4.67 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. Park Hotels & Resorts has a 1-year low of $22.38 and a 1-year high of $33.02. The firm’s fifty day moving average price is $24.06 and its 200 day moving average price is $26.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.74 and a quick ratio of 1.74.

PK has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on Park Hotels & Resorts in a report on Wednesday, October 16th. They set a market perform rating and a $25.00 price objective on the stock. Barclays reiterated an overweight rating and set a $30.00 price objective on shares of Park Hotels & Resorts in a report on Friday, September 27th. Nomura cut their price objective on Park Hotels & Resorts from $33.00 to $29.00 and set a buy rating on the stock in a report on Friday, October 11th. Zacks Investment Research cut Park Hotels & Resorts from a hold rating to a sell rating in a report on Friday, October 18th. Finally, UBS Group set a $24.00 price objective on Park Hotels & Resorts and gave the company a hold rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $28.17.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion 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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