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

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.1111.

A number of research firms have recently commented on PK. Truist Financial downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $16.00 to $11.00 in a report on Friday, May 30th. Wells Fargo & Company increased their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price target for the company. in a research report on Friday, May 16th. Bank of America cut shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 price objective for the company. in a report on Wednesday, April 30th. Finally, Citigroup reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd.

Park Hotels & Resorts Stock Down 0.1%

Shares of NYSE:PK opened at $11.1360 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $2.23 billion, a PE ratio of 41.25 and a beta of 1.80. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23. The firm has a 50 day simple moving average of $10.70 and a 200 day simple moving average of $10.90.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. Park Hotels & Resorts had a net margin of 2.25% and a return on equity of 0.76%. The firm had revenue of $672.00 million for the quarter, compared to analyst estimates of $672.37 million. During the same quarter in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. As a group, research analysts expect that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Park Hotels & Resorts’s dividend payout ratio is 370.37%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Park Hotels & Resorts by 34.6% in the second quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after acquiring an additional 3,309,275 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Park Hotels & Resorts by 4.0% during the second quarter. Donald Smith & CO. Inc. now owns 12,044,177 shares of the financial services provider’s stock worth $123,212,000 after buying an additional 466,857 shares in the last quarter. AQR Capital Management LLC grew its stake in Park Hotels & Resorts by 76.7% during the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after buying an additional 3,361,382 shares in the last quarter. Sculptor Capital LP grew its stake in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after buying an additional 3,962,304 shares in the last quarter. Finally, H 2 Credit Manager LP grew its stake in Park Hotels & Resorts by 13.9% during the first quarter. H 2 Credit Manager LP now owns 3,903,750 shares of the financial services provider’s stock worth $41,692,000 after buying an additional 475,000 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

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.