Park Hotels & Resorts (NYSE:PK) Issues FY 2024 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.070-2.270 for the period, compared to the consensus earnings per share estimate of 2.130. The company issued revenue guidance of -. Park Hotels & Resorts also updated its FY24 guidance to $2.07-2.27 EPS.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. StockNews.com downgraded shares of Park Hotels & Resorts from a hold rating to a sell rating in a report on Tuesday, April 23rd. Jefferies Financial Group raised shares of Park Hotels & Resorts from a hold rating to a buy rating and raised their price objective for the stock from $14.00 to $21.00 in a report on Tuesday, January 2nd. Citigroup raised shares of Park Hotels & Resorts from a neutral rating to a buy rating and raised their price objective for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. Finally, Barclays raised their price objective on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an overweight rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $17.58.

Park Hotels & Resorts Trading Down 3.2 %

NYSE:PK traded down $0.54 during trading hours on Tuesday, reaching $16.13. The company’s stock had a trading volume of 4,607,791 shares, compared to its average volume of 2,790,225. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 0.85 and a beta of 2.03. The firm has a 50-day simple moving average of $16.96 and a 200-day simple moving average of $15.52. Park Hotels & Resorts has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.30 and a current ratio of 1.30.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. The company had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. Research analysts expect that Park Hotels & Resorts will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Friday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 217.39%.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.