Park Hotels & Resorts (PK) to Release Earnings on Tuesday

Park Hotels & Resorts (NYSE:PK) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Park Hotels & Resorts has set its FY24 guidance at $2.02 to $2.22 EPS and its FY 2024 guidance at 2.020-2.220 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The firm had revenue of $657.00 million during the quarter, compared to the consensus estimate of $665.16 million. On average, analysts expect Park Hotels & Resorts to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Park Hotels & Resorts Stock Up 1.2 %

Shares of PK stock opened at $16.35 on Tuesday. 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. The business’s fifty day moving average is $16.78 and its 200-day moving average is $15.33. The stock has a market cap of $3.44 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.03.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.25 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.15. This represents a $1.00 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date of this dividend was Wednesday, March 27th. Park Hotels & Resorts’s payout ratio is presently 217.39%.

Wall Street Analysts Forecast Growth

PK has been the subject of several research reports. Citigroup upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Jefferies Financial Group upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Truist Financial increased their price objective on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Finally, UBS Group upped their target price on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.58.

Park Hotels & Resorts Company Profile

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.