Park Hotels & Resorts Inc (NYSE:PK) announced a quarterly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.45 per share by the financial services provider on Monday, July 15th. This represents a $1.80 annualized dividend and a yield of 6.54%. The ex-dividend date is Thursday, June 27th.
Park Hotels & Resorts has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Park Hotels & Resorts to earn $2.99 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 60.2%.
NYSE:PK opened at $27.52 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 2.37 and a beta of 1.38. The company’s 50 day moving average price is $28.89. Park Hotels & Resorts has a 1-year low of $25.30 and a 1-year high of $34.27.
Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Park Hotels & Resorts had a net margin of 15.32% and a return on equity of 7.38%. The company had revenue of $659.00 million during the quarter, compared to analyst estimates of $655.79 million. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Park Hotels & Resorts will post 2.96 EPS for the current year.
Several brokerages have recently weighed in on PK. TheStreet cut shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a research report on Wednesday, June 5th. Barclays reaffirmed a “buy” rating and issued a $35.00 target price on shares of Park Hotels & Resorts in a research report on Sunday, March 3rd. Zacks Investment Research raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, March 6th. Deutsche Bank set a $34.00 price target on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Nomura boosted their price target on shares of Park Hotels & Resorts from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 28th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.11.
Park Hotels & Resorts Company Profile
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.
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