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

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been assigned an average rating of “Reduce” from the eleven brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.10.

PK has been the subject of a number of recent research reports. Evercore ISI reduced their target price on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, November 20th. Cantor Fitzgerald started coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price objective for the company. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Tuesday. Finally, Citigroup downgraded shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and dropped their price target for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $10.82 on Friday. The firm has a market cap of $2.16 billion, a P/E ratio of -154.57 and a beta of 1.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 1-year low of $8.27 and a 1-year high of $16.23. The business’s 50 day moving average is $10.81 and its 200-day moving average is $10.88.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $610.00 million during the quarter, compared to the consensus estimate of $617.05 million. Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Equities research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PK. Cetera Investment Advisers grew its stake in Park Hotels & Resorts by 10.7% during the first quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,455 shares in the last quarter. LPL Financial LLC raised its position in shares of Park Hotels & Resorts by 34.5% in the 1st quarter. LPL Financial LLC now owns 508,004 shares of the financial services provider’s stock valued at $5,425,000 after buying an additional 130,399 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Park Hotels & Resorts by 10.6% during the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 1,239 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter worth approximately $682,000. Finally, CM Management LLC boosted its position in shares of Park Hotels & Resorts by 33.3% during the 1st quarter. CM Management LLC now owns 200,000 shares of the financial services provider’s stock worth $2,136,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

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.