Park Hotels & Resorts Inc Announces Quarterly Dividend of $0.45 (NYSE:PK)

Share on StockTwits

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.

Featured Story: What is Forex?

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

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Vanguard Total Bond Market ETF  Shares Purchased by Trellis Advisors LLC
Vanguard Total Bond Market ETF Shares Purchased by Trellis Advisors LLC
Washington Capital Management Inc. Takes Position in Ciena Co.
Washington Capital Management Inc. Takes Position in Ciena Co.
Washington Capital Management Inc. Invests $644,000 in UnitedHealth Group Inc
Washington Capital Management Inc. Invests $644,000 in UnitedHealth Group Inc
Washington Capital Management Inc. Makes New $420,000 Investment in TAKE-TWO INTERACTIVE SOFTWARE, INC
Washington Capital Management Inc. Makes New $420,000 Investment in TAKE-TWO INTERACTIVE SOFTWARE, INC
The Coca-Cola Co  Shares Sold by Wheatland Advisors Inc.
The Coca-Cola Co Shares Sold by Wheatland Advisors Inc.
Takeda Pharmaceutical Co Ltd  Shares Sold by Wheatland Advisors Inc.
Takeda Pharmaceutical Co Ltd Shares Sold by Wheatland Advisors Inc.


 
© 2006-2019 Zolmax.