Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report released on Thursday morning.

A number of other brokerages also recently issued reports on PK. Truist Financial decreased their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Jefferies Financial Group cut Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $19.00 to $10.00 in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.39.

Park Hotels & Resorts Stock Up 0.9 %

Shares of NYSE:PK opened at $9.52 on Thursday. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $17.40. The firm’s 50 day moving average price is $11.58 and its 200 day moving average price is $13.43. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, equities research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.51%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Walleye Capital LLC purchased a new position in shares of Park Hotels & Resorts during the third quarter worth about $151,000. Quantinno Capital Management LP lifted its position in Park Hotels & Resorts by 74.2% during the 3rd quarter. Quantinno Capital Management LP now owns 48,392 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 20,605 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $224,000. MML Investors Services LLC increased its holdings in shares of Park Hotels & Resorts by 55.1% in the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 8,749 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Park Hotels & Resorts by 81.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 18,892 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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.