Park Hotels & Resorts (NYSE:PK) Earns Hold Rating from Analysts at StockNews.com

Posted by Brian Himes on Mar 19th, 2023

StockNews.com started coverage on shares of Park Hotels & Resorts (NYSE:PK – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the financial services provider’s stock.

PK has been the subject of a number of other reports. Truist Financial reduced their price target on shares of Park Hotels & Resorts to $20.00 in a research report on Wednesday, November 16th. Wells Fargo & Company lifted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an overweight rating in a research report on Thursday, February 2nd. TheStreet raised shares of Park Hotels & Resorts from a d+ rating to a c rating in a research note on Wednesday, February 22nd. Morgan Stanley raised their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock an equal weight rating in a research note on Tuesday, February 7th. Finally, Barclays dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $15.00 and set an equal weight rating for the company in a research note on Tuesday, January 10th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Park Hotels & Resorts has an average rating of Hold and a consensus price target of $18.21.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $11.54 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 1.08. The company has a market cap of $2.56 billion, a P/E ratio of 16.03, a PEG ratio of 0.71 and a beta of 1.96. Park Hotels & Resorts has a 52 week low of $10.92 and a 52 week high of $20.58. The company has a 50-day moving average price of $13.55 and a 200 day moving average price of $12.82.

Park Hotels & Resorts (NYSE:PK – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.24). Park Hotels & Resorts had a net margin of 6.48% and a return on equity of 3.77%. The company had revenue of $665.00 million for the quarter, compared to analyst estimates of $652.61 million. Research analysts predict that Park Hotels & Resorts will post 1.77 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be paid a $0.15 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.60 annualized dividend and a yield of 5.20%. Park Hotels & Resorts’s payout ratio is currently 138.89%.

Institutional Trading of Park Hotels & Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of PK. PGGM Investments purchased a new stake in Park Hotels & Resorts in the 3rd quarter worth approximately $85,537,000. Rush Island Management LP grew its stake in shares of Park Hotels & Resorts by 340.4% during the 2nd quarter. Rush Island Management LP now owns 4,935,042 shares of the financial services provider’s stock valued at $66,969,000 after buying an additional 3,814,459 shares during the period. Long Pond Capital LP purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $27,696,000. Norges Bank purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter valued at $22,324,000. Finally, Millennium Management LLC purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $24,904,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

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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.