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

Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) has been assigned an average rating of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.55.

A number of research analysts have commented on PK shares. Wells Fargo & Company downgraded Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $17.00 to $12.50 in a research note on Thursday, March 30th. Morgan Stanley dropped their price objective on Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, April 17th. Citigroup lifted their target price on shares of Park Hotels & Resorts from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 1st. TheStreet raised shares of Park Hotels & Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, February 22nd. Finally, Truist Financial raised their price target on shares of Park Hotels & Resorts from $19.00 to $20.00 in a report on Tuesday, May 2nd.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $13.68 on Friday. The company has a 50-day moving average of $12.22 and a 200-day moving average of $12.65. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 0.73 and a beta of 1.96. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.09. Park Hotels & Resorts has a twelve month low of $10.70 and a twelve month high of $19.47.

Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its earnings results on Monday, May 1st. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.17). Park Hotels & Resorts had a return on equity of 5.90% and a net margin of 9.44%. The company had revenue of $648.00 million for the quarter, compared to analyst estimates of $617.04 million. During the same period last year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. Analysts forecast that Park Hotels & Resorts will post 1.93 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Thursday, March 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 54.05%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Park Hotels & Resorts by 7.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 233,436 shares of the financial services provider’s stock valued at $2,628,000 after buying an additional 15,794 shares during the period. AlphaCrest Capital Management LLC raised its stake in shares of Park Hotels & Resorts by 41.7% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 239,382 shares of the financial services provider’s stock valued at $2,695,000 after purchasing an additional 70,466 shares during the period. ExodusPoint Capital Management LP lifted its holdings in shares of Park Hotels & Resorts by 146.5% in the third quarter. ExodusPoint Capital Management LP now owns 322,144 shares of the financial services provider’s stock valued at $3,627,000 after purchasing an additional 191,477 shares in the last quarter. Cipher Capital LP acquired a new position in shares of Park Hotels & Resorts during the third quarter worth about $1,011,000. Finally, Signaturefd LLC grew its holdings in shares of Park Hotels & Resorts by 27.6% during the fourth quarter. Signaturefd LLC now owns 5,400 shares of the financial services provider’s stock worth $64,000 after buying an additional 1,169 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.