Park Hotels & Resorts (NYSE:PK) Issues Quarterly Earnings Results

Park Hotels & Resorts (NYSE:PK – Get Free Report) announced its earnings results on Wednesday. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.37, Zacks reports. The firm had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $601.95 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS.

Park Hotels & Resorts Stock Up 1.5%

Shares of PK traded up $0.25 during trading hours on Wednesday, hitting $16.97. The company had a trading volume of 5,014,472 shares, compared to its average volume of 4,388,964. The firm has a fifty day moving average price of $15.69 and a 200-day moving average price of $13.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 8.32 and a beta of 1.41. Park Hotels & Resorts has a 52-week low of $9.84 and a 52-week high of $17.14.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PK shares. Morgan Stanley lifted their price target on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. UBS Group upgraded shares of Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a report on Monday, September 28th. Weiss Ratings raised shares of Park Hotels & Resorts from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Cantor Fitzgerald lifted their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets upgraded shares of Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $14.00 to $18.00 in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.64.

Check Out Our Latest Report on PK

About Park Hotels & Resorts

(Get Free Report)

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.

Further Reading

Earnings History for Park Hotels & Resorts (NYSE:PK)

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