JPMorgan Chase & Co. Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price objective increased by JPMorgan Chase & Co. from $11.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Barclays boosted their price target on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. Morgan Stanley boosted their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. BMO Capital Markets reissued a “market perform” rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a research report on Friday, June 12th. Finally, Weiss Ratings upgraded shares of Park Hotels & Resorts from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Reduce” and a consensus price target of $13.18.

Park Hotels & Resorts Trading Up 1.4%

Shares of PK stock opened at $15.04 on Tuesday. Park Hotels & Resorts has a 12-month low of $9.84 and a 12-month high of $15.09. The company has a market capitalization of $3.03 billion, a PE ratio of -13.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.33. The firm has a 50 day moving average price of $13.57 and a two-hundred day moving average price of $11.94. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.33). The firm had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. Park Hotels & Resorts’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, analysts predict that Park Hotels & Resorts will post 1.76 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 6.6%. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in Park Hotels & Resorts by 223.9% during the 4th quarter. SG Americas Securities LLC now owns 762,261 shares of the financial services provider’s stock worth $7,973,000 after acquiring an additional 526,901 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Park Hotels & Resorts by 106.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,712 shares of the financial services provider’s stock worth $2,005,000 after purchasing an additional 99,051 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Park Hotels & Resorts by 14.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after purchasing an additional 1,813,338 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in Park Hotels & Resorts in the third quarter valued at about $950,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Park Hotels & Resorts during the second quarter valued at about $230,000. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.