Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Park Hotels & Resorts (NYSE:PK – Get Free Report) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $12.00 price target on the financial services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 8.05% from the stock’s previous close.
Several other analysts have also issued reports on PK. Morgan Stanley reissued an “outperform” rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. Wells Fargo & Company increased their target price on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. JPMorgan Chase & Co. began coverage on Park Hotels & Resorts in a research report on Monday, June 23rd. They set an “underweight” rating and a $10.00 price objective for the company. Finally, Wall Street Zen downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.18.
Check Out Our Latest Analysis on Park Hotels & Resorts
Park Hotels & Resorts Stock Performance
Park Hotels & Resorts (NYSE:PK – Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $672.37 million. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.Park Hotels & Resorts’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. Sell-side analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.
Hedge Funds Weigh In On Park Hotels & Resorts
Several large investors have recently bought and sold shares of PK. Two Sigma Advisers LP raised its position in Park Hotels & Resorts by 59.1% in the fourth quarter. Two Sigma Advisers LP now owns 28,000 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 10,400 shares during the last quarter. Versant Capital Management Inc raised its position in Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 2,539 shares during the last quarter. GAMMA Investing LLC raised its position in Park Hotels & Resorts by 5,253.1% in the first quarter. GAMMA Investing LLC now owns 56,422 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 55,368 shares during the last quarter. Merit Financial Group LLC raised its position in Park Hotels & Resorts by 315.0% in the first quarter. Merit Financial Group LLC now owns 42,922 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 32,580 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC raised its position in shares of Park Hotels & Resorts by 10.9% during the first quarter. Blue Zone Wealth Advisors LLC now owns 296,928 shares of the financial services provider’s stock worth $3,171,000 after acquiring an additional 29,118 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.
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.
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