Park Hotels & Resorts (NYSE:PK) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of Park Hotels & Resorts (NYSE:PK) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $10.00 price target on the financial services provider’s stock, down from their previous price target of $19.00.

Other analysts have also issued research reports about the stock. Truist Financial cut their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. UBS Group decreased their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.39.

Park Hotels & Resorts Trading Up 0.9 %

PK opened at $9.52 on Wednesday. The firm’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $13.43. The stock has a market capitalization of $1.92 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.51 and a beta of 1.73. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $17.40.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. As a group, research analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.51%. Park Hotels & Resorts’s payout ratio is 99.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in Park Hotels & Resorts by 11,039.1% in the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,539 shares during the last quarter. Quarry LP bought a new stake in shares of Park Hotels & Resorts during the fourth quarter worth approximately $35,000. GF Fund Management CO. LTD. acquired a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $53,000. Quadrant Capital Group LLC grew its position in shares of Park Hotels & Resorts by 38.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 1,335 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,373 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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.