$0.05 Earnings Per Share Expected for Park Hotels & Resorts Inc. (NYSE:PK) This Quarter

Brokerages expect Park Hotels & Resorts Inc. (NYSE:PK) to post $0.05 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Park Hotels & Resorts’ earnings. The lowest EPS estimate is ($0.01) and the highest is $0.14. Park Hotels & Resorts reported earnings of ($0.53) per share in the same quarter last year, which would suggest a positive year over year growth rate of 109.4%. The business is scheduled to announce its next earnings results after the market closes on Thursday, February 17th.

On average, analysts expect that Park Hotels & Resorts will report full-year earnings of ($0.57) per share for the current fiscal year, with EPS estimates ranging from ($0.63) to ($0.48). For the next fiscal year, analysts expect that the company will report earnings of $1.32 per share, with EPS estimates ranging from $0.93 to $1.74. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, November 3rd. The financial services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.37). Park Hotels & Resorts had a negative return on equity of 13.16% and a negative net margin of 59.47%. The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $416.88 million. During the same quarter in the previous year, the firm earned ($0.63) EPS.

A number of analysts have issued reports on PK shares. Bank of America downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $23.00 in a research note on Monday. Truist increased their price objective on shares of Park Hotels & Resorts from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, December 3rd. Zacks Investment Research cut shares of Park Hotels & Resorts from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company cut shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating in a research report on Monday, October 18th. Finally, Citigroup reduced their price objective on Park Hotels & Resorts from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.13.

Shares of NYSE:PK traded up $0.08 during mid-day trading on Friday, reaching $19.44. The stock had a trading volume of 4,533,253 shares, compared to its average volume of 3,284,071. The business’s 50 day moving average price is $18.75 and its 200 day moving average price is $18.92. Park Hotels & Resorts has a 1 year low of $15.77 and a 1 year high of $24.67. The company has a market cap of $4.60 billion, a P/E ratio of -7.53 and a beta of 2.10. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.05.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its stake in shares of Park Hotels & Resorts by 46.8% during the 2nd quarter. Advisor Group Holdings Inc. now owns 80,253 shares of the financial services provider’s stock worth $1,653,000 after acquiring an additional 25,580 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Park Hotels & Resorts by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 23,075 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 1,873 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Park Hotels & Resorts by 17.4% during the second quarter. Teacher Retirement System of Texas now owns 31,195 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 4,615 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Park Hotels & Resorts by 13.0% during the second quarter. Fifth Third Bancorp now owns 9,424 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 1,085 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Park Hotels & Resorts by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 19,438 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.

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.

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

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