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

Park Hotels & Resorts Inc. (NYSE:PKGet Rating) has been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $21.83.

A number of research firms have weighed in on PK. Bank of America lowered shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $23.00 in a research note on Monday, January 10th. UBS Group lowered shares of Park Hotels & Resorts to a “neutral” rating in a research note on Monday, January 10th. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Saturday, April 16th. TheStreet upgraded shares of Park Hotels & Resorts from a “d+” rating to a “c-” rating in a research note on Friday, February 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research note on Tuesday, May 3rd.

NYSE:PK opened at $19.29 on Monday. The firm’s 50-day moving average price is $18.92 and its 200-day moving average price is $18.83. The company has a market capitalization of $4.50 billion, a PE ratio of -14.08 and a beta of 1.88. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.02 and a quick ratio of 3.61. Park Hotels & Resorts has a 1-year low of $15.77 and a 1-year high of $22.83.

Park Hotels & Resorts (NYSE:PKGet Rating) last released its earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.25). The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 190.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.48) earnings per share. Equities analysts anticipate that Park Hotels & Resorts will post 1.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Wednesday, March 30th. Park Hotels & Resorts’s dividend payout ratio is currently -2.92%.

A number of large investors have recently modified their holdings of PK. Janus Henderson Group PLC lifted its holdings in Park Hotels & Resorts by 2,450.7% during the third quarter. Janus Henderson Group PLC now owns 2,967,361 shares of the financial services provider’s stock valued at $56,753,000 after purchasing an additional 2,851,024 shares in the last quarter. BlackRock Inc. raised its position in shares of Park Hotels & Resorts by 10.5% during the fourth quarter. BlackRock Inc. now owns 29,558,302 shares of the financial services provider’s stock valued at $558,060,000 after buying an additional 2,811,067 shares during the last quarter. Vulcan Value Partners LLC raised its position in shares of Park Hotels & Resorts by 176.1% during the third quarter. Vulcan Value Partners LLC now owns 4,020,246 shares of the financial services provider’s stock valued at $76,948,000 after buying an additional 2,564,414 shares during the last quarter. Norges Bank bought a new stake in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $41,649,000. Finally, JPMorgan Chase & Co. raised its position in shares of Park Hotels & Resorts by 45.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,416,035 shares of the financial services provider’s stock valued at $102,254,000 after buying an additional 1,680,145 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts (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.

Further Reading

Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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