Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) Price Target at $14.60

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.60.

PK has been the subject of several research reports. Jefferies Financial Group downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price objective for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Truist Financial dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Evercore ISI downgraded shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price objective for the company. in a report on Friday. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th.

Park Hotels & Resorts Trading Down 0.7%

Shares of Park Hotels & Resorts stock opened at $10.80 on Tuesday. The company has a fifty day moving average of $10.37 and a 200 day moving average of $12.71. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $16.42. The company has a market capitalization of $2.16 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.51 and a beta of 1.75. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $630.00 million during the quarter, compared to the consensus estimate of $620.17 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.26%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts’s payout ratio is 169.49%.

Institutional Trading of Park Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,395 shares during the period. Quarry LP purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth approximately $35,000. Versant Capital Management Inc increased its position in shares of Park Hotels & Resorts by 11,039.1% during the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 2,539 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth approximately $53,000. Finally, Quadrant Capital Group LLC increased its position in shares of Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 1,335 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.