Park Hotels & Resorts Inc. (NYSE:PK) Given Average Rating of “Hold” by Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) have received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $21.83.

PK has been the subject of several research analyst reports. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Saturday, April 16th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $19.00 in a research note on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research note on Tuesday, May 3rd. Finally, TheStreet raised shares of Park Hotels & Resorts from a “d+” rating to a “c-” rating in a research note on Friday, February 18th.

PK stock traded up $0.78 during trading on Monday, reaching $18.41. The stock had a trading volume of 3,665,002 shares, compared to its average volume of 3,160,223. Park Hotels & Resorts has a 1-year low of $15.77 and a 1-year high of $22.42. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $4.30 billion, a P/E ratio of -13.44 and a beta of 1.88. The firm has a fifty day moving average price of $18.93 and a 200 day moving average price of $18.81.

Park Hotels & Resorts (NYSE:PK – Get Rating) last issued its quarterly earnings data on Monday, May 2nd. The financial services provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.25). The firm had revenue of $479.00 million during the quarter, compared to analyst estimates of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. The business’s quarterly revenue was up 190.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.48) EPS. Sell-side analysts predict that Park Hotels & Resorts will post 1.16 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. Park Hotels & Resorts’s dividend payout ratio is currently -2.92%.

Several hedge funds have recently added to or reduced their stakes in PK. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Park Hotels & Resorts by 3.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,024 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 565 shares during the period. PNC Financial Services Group Inc. increased its stake in Park Hotels & Resorts by 12.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 21,899 shares of the financial services provider’s stock valued at $419,000 after buying an additional 2,461 shares during the period. Moors & Cabot Inc. acquired a new position in Park Hotels & Resorts in the 3rd quarter valued at approximately $71,000. Swiss National Bank increased its stake in Park Hotels & Resorts by 0.5% in the 3rd quarter. Swiss National Bank now owns 522,497 shares of the financial services provider’s stock valued at $10,001,000 after buying an additional 2,500 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in Park Hotels & Resorts in the 3rd quarter valued at approximately $197,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Park Hotels & Resorts Company Profile (Get Rating)

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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

See Also