Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Recommendation of “Hold” by Brokerages

Park Hotels & Resorts Inc. (NYSE:PKGet Free Report) has received an average rating of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.0833.

PK has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $18.00 price target on shares of Park Hotels & Resorts in a report on Friday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Park Hotels & Resorts from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, August 10th. Morgan Stanley boosted their price objective on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Finally, Wells Fargo & Company raised Park Hotels & Resorts to a “hold” rating in a research report on Thursday, July 23rd.

Read Our Latest Report on Park Hotels & Resorts

Park Hotels & Resorts Stock Up 0.1%

Park Hotels & Resorts stock opened at $15.84 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -19.08, a PEG ratio of 2.06 and a beta of 1.34. Park Hotels & Resorts has a 1-year low of $9.84 and a 1-year high of $16.20. The business has a fifty day moving average price of $14.86 and a 200-day moving average price of $12.74.

Park Hotels & Resorts (NYSE:PKGet Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The company had revenue of $680.00 million for the quarter, compared to analyst estimates of $659.68 million. During the same period in the prior year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Park Hotels & Resorts will post 1.83 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.3%. The ex-dividend date is Wednesday, September 30th. Park Hotels & Resorts’s payout ratio is presently -120.48%.

Institutional Investors Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth $25,000. Danske Bank A S acquired a new position in Park Hotels & Resorts during the third quarter valued at $25,000. Fifth Third Bancorp lifted its position in Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,061 shares during the period. Advisory Services Network LLC acquired a new position in Park Hotels & Resorts during the third quarter valued at $34,000. Finally, Nykredit A S purchased a new stake in Park Hotels & Resorts in the second quarter valued at $67,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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