Park Hotels & Resorts (NYSE:PK) Price Target Cut to $11.00 by Analysts at Wells Fargo & Company

Park Hotels & Resorts (NYSE:PK) had its price objective trimmed by Wells Fargo & Company from $12.00 to $11.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

PK has been the subject of several other reports. Evercore ISI decreased their price objective on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Tuesday, November 25th. Cantor Fitzgerald began coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 price objective on the stock. UBS Group lifted their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, Citigroup lowered Park Hotels & Resorts from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $11.00.

Park Hotels & Resorts Stock Down 2.1%

Shares of NYSE PK opened at $10.60 on Monday. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -151.36 and a beta of 1.45. The stock has a 50 day moving average price of $10.79 and a 200 day moving average price of $10.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04.

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

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Park Hotels & Resorts in the third quarter valued at about $25,000. Parvin Asset Management LLC acquired a new position in Park Hotels & Resorts in the 2nd quarter worth approximately $26,000. Advisory Services Network LLC acquired a new position in Park Hotels & Resorts in the 3rd quarter worth approximately $34,000. Bessemer Group Inc. raised its position in Park Hotels & Resorts by 359.3% during the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after buying an additional 2,411 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Park Hotels & Resorts by 326.4% during the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 2,448 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.